Estate planning isn’t just for the wealthy. In fact, having limited assets may create a greater need for a solid estate plan. This will ensure that if the unthinkable happens, your assets are released to your family members as quickly as possible so that they can use them for any necessary expenses. It also helps avoid legal fees and other costs associated with a lengthy probate process.
The simplest way to create an estate plan is by using a will. A will is a document that says who you want to receive your belongings. Although wills are relatively easy to create, you want to make sure they comply with the required formalities so that your family doesn’t have to deal with a lengthy probate process. This is why you may want an attorney to either prepare or review your will.
A trust may be even a better option for you if you have assets you want to secure and want to avoid probate court as much as possible. Trusts are a great tool for estate planning that can be very complex to draft and create. If you do have assets you want to protect for your heirs a trust may be the right choice for you.
If you need an estate planning lawyer in Taylor, Michigan or the surrounding areas, call us today to help you come up with a plan for your family’s future – (734) 285-5625.