In Grand Blanc, "estate planning" refers to all of the decisions affecting how a person's property is going to be disposed of after their death, as well as the process of implementing those decisions when the time comes.
If you want to start the process of planning your estate, you've made a good choice, especially if you care about what happens to your survivors after you're gone. You should be careful, however, and make sure you have the help of a legal and financial expert every step of the way. This will likely prove very helpful in the long run, avoiding a lot of problems in the future.
In addition to post-death decisions, estate planning also concerns matters that might affect you during your life, such as granting power of attorney to a family member or trusted friend in case you become unable to make your own decisions regarding your finances or medical care. Furthermore, effective estate planning can minimize the impact that estate taxes and court fees will have on your final disposition to your loved ones.
A competent estate planner in Grand Blanc can make the process of planning your estate go much more smoothly, and maximize the chances of your wishes actually being carried out with legal force.
Common Features of Grand Blanc Estates
Will: Wills are a very important part of almost all estate plans. In simplest terms, it answers the question "who gets what after I die?" Generally, you can leave your property to anyone you wish. If you die without a will, your property will usually be given to your closest living relative (usually a spouse or child).
Living Will: Living wills are also very important for most people. Basically, a living will tells everyone concerned (your next of kin, and your doctor) what type of medical care you want if you become incapacitated. It typically includes the circumstances under which a person wishes to be kept on life support, when they want to be taken off of life support, and, sometimes, instructions on when medical staff should and should not attempt resuscitation.
Power of Attorney: This is an arrangement in which you give someone else, usually a trusted family member, the right to make financial and medical decisions on your behalf, in case you become unable to make or express your own decisions.
Funeral Arrangements: What do you want done with your body after you die? Do you want to be cremated? How about buried? Or maybe you want to be cremated, and have your remains shot into space? Whatever your preference, you won't exactly be able to tell anyone when the time comes. Therefore, you should make your desires on this matter known well in advance. You also shouldn't make your will the only place where these instructions are contained, since it might not be read for weeks after your death, when it will probably be too late.
Do I Need a Grand Blanc Estates Lawyer?
A poorly drafted or executed Grand Blanc estate plan can have major negative consequences. For example, it might be confusing to the people who are most directly affected by it. This confusion can often lead to costly litigation. For that reason, the assistance of an experienced estate planning attorney can be invaluable.