Michigan Tri-County Estate Planning Lawyers
Oakland County, Wayne County, and Macomb County.
At The Prince Law Firm in Farmington Hills, just outside of Detroit, Michigan, our attorneys will craft an estate plan that takes into account your unique situation. Most people find it difficult to discuss the possibility of death or incapacity, yet by doing so in the context of estate planning you provide those you care about with necessary direction and protection. If you would like to discuss creating or updating your estate plan, contact our Farmington Hills office and make arrangements for a free initial consultation.
Estate Planning for Parents of Minor Children
If you are a parent, you almost certainly have a first-aid kit in the cabinet and require your children to use seatbelts in the car. You never hope to use either, but if the unexpected happens, you want to help protect your child as much as possible. For the same reason, it is essential, even if you have more debt than assets, that you prepare a will that designates a guardian and conservator if you cannot be there for your children, even if you have more debt than assets. A will is a multi-purpose document that allows you to nominate a guardian and conservator for your minor children, in the event you cannot be there for them. If your assets, including life insurance and retirement accounts, are even somewhat substantial or there are special circumstances in your family, then it might be more appropriate to consider a trust.
Asset Preservation through Estate and Tax Planning
Even if your income has been modest throughout your working years, your family may benefit from provisions in Michigan and federal estate and tax laws. A vast majority of people fail to consider the value of their life insurance and retirement accounts when thinking about the value of their estates. If you would like to discuss trusts and other strategies for asset preservation and tax planning with one of our attorneys, call or e-mail our Detroit area office.
Planning for Health Care
Every adult should have a durable power of attorney, as well as a health care power of attorney to designate a representative to make decisions in the event of an accident or illness.
For more information regarding our practice, contact our office or review one of the pages listed below.
