Who Needs Estate Planning?
Some people think that estate planning is only for the wealthiest of families, or that it deals solely with the distribution of assets after a person passes away. The truth is that everyone can benefit from having an estate plan, and that proper planning addresses important issues during one’s lifetime.
For example, an estate plan can ensure that a person of your choosing, someone you know and trust, can make financial and medical decisions on your behalf if you become incapacitated. Without a plan, someone may petition the court to take control of your assets and medical care. This could be a person you would not want to make important decisions for you. The court processes involved, guardianship and conservatorship, are time-consuming, expensive, and put a great deal of stress on loved ones.
This is just one example of what an estate plan can help you accomplish. At Biddinger, Schrot & Rolando, PC, we have the experience and mastery of the law necessary to design a plan capable of helping you accomplish a great deal more. Depending on your unique needs and goals, your plan can:
- Give you complete control over your assets while you are alive and after you pass away
- Ensure your minor children are raised according to your wishes if something happens to you and your spouse
- Leave what you want to whom you want in the manner you want
- Protect your assets against divorce, lawsuits, creditors, and other threats
- Pass your work ethic, sense of responsibility, and values on to heirs
- Reduce income, gift, estate, and other taxes
- Avoid probate, thereby keeping your financial affairs and family information private
- Protect your loved ones’ inheritances
- Leave a lasting legacy
We take a personal approach to helping our clients achieve goals like these. We will devote the time to gain a thorough understanding of your needs, goals, and family dynamics. Then, we will design and implement a customized estate plan to achieve all of your goals.
We believe that the best plans are the result of collaboration, not just with you and your family but also with your accountant, insurance representative, financial planner, and other key advisors.
To learn more about how we can protect you, your loved ones, and your hard-earned assets, we invite you to attend one of our free workshops. Better yet, why not schedule a consultation with one of our Northern Michigan estate planning attorneys. We welcome the opportunity to meet you in person.