Estate planning in Michigan is important. However, some people have a set of problems with estate planning that they do not want to handle. With that, this article aims to provide information on your estate planning and why it is important.
Setting Your Estate Planning Goals
You must know why you should set your estate planning goals. What are these goals?
- You want to ensure that your family receives financial support.
- You can protect your family in case you become incapacitated
- You can maintain control of your finances after you pass away
- You want to make sure that you pass your money properly.
- You will be able to avoid a long and expensive probate court process
- Your finances and transfer of your assets will be kept private
- Your wealth will be preserved and your heirs will not be required to pay inheritance tax
- You can document all of your preferences in case of a medical emergency
- You can protect the benefits of your family members who have special needs
- You can specifically name someone you can trust to distribute your assets after you pass away
- You can leave assets to a charity
- You can request specific funeral arrangements
- You can demand specific healthcare preferences
- You can establish guardianship of your minor children
- You can have control, even after you pass away.
With these estate planning goals, you should be able to set your estate planning goals properly and your life in Michigan should get better.
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Disclaimer
The article that you have read is based on general applications of the law. It is not legal advice and it is not to be construed as any legal consultation with the firm. No client-attorney relationship is created when you read the articles we have provided.
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