Despite its numerous and significant benefits, many people fail to make an estate plan until it is too late. An estate plan is not simply for the extraordinarily wealthy. In fact, there are many different aspects of an estate plan that are very important for nearly every individual, regardless of wealth. One of these elements is power of attorney. Designating a power of attorney can be useful in many different situations, but many people still fail to take advantage of this important legal tool.
Guidance for the estate administration process
Because many people fail to plan for the end of their lives, many people are also surprised by the chaos and confusion that can follow one's death with regard to estate administration. There are several different reasons that one's estate may end up in probate court, but Prince Law Firm has the experience necessary to resolve whatever issues exist or arise.
Ways to pay for long-term care
It is a fact that everyone will eventually age and suffer physical decline. While everyone ages in different ways and some people will suffer health problems or physical infirmities that others do not, no one knows for sure what will happen in the future. It is for this reason that long-term planning is so important. Long-term care can refer to many different things-residence in a nursing home, assistive support and other supports-but what is certain is that long-term care will come with certain and often significant costs.
What are the legal grounds for a will contest?
Wills are important legal documents that enable people to give effect to their wishes after they are deceased and no longer able to make those wishes known. Wills can be used to give personal property to relatives or other beneficiaries--one of the most common uses of wills--or to make charitable donations, establish guardians for minors, and other purposes. Unfortunately, there are situations when relatives believe that a will does not accurately reflect what the deceased would have wanted. In these cases, a person may choose to initiate a will contest.
Understanding important points about Michigan power of attorney
While residents of Michigan might have a baseline understanding of what a power of attorney is, there still can be a degree of confusion. It can be helpful to have a clear understanding of power of attorney in order to make informed decisions should a situation call for it and to avoid any abuse of power that can unfortunately occur.
