Thinking about the future is scary for many people, as there is so much uncertainty. However, there is one thing you can do to help provide peace of mind – sorting out your properties, assets, and funds. By planning your estate, you can rest assured knowing that your loved ones will be cared for. Unfortunately, this is not always easy, and if there is an issue, your plan can be ruled invalid. If you’re worried about the validity of your estate plan, understanding your options is essential. Keep reading to learn how a Washtenaw County estate planning attorney can help ensure your plan is legally binding.
What Are My Estate Planning Options?
When planning your estate, you may be overwhelmed by the options you have to get your assets in order. However, the best place to start is by setting up a last will and testament. This is one of the most essential documents for anyone, as it allows you to provide clear and specific instructions about how you want your assets to be distributed to the beneficiaries, who you would like to assume guardianship of minor children, and what your wishes for burial are.
However, you can also set up a trust fund. Unfortunately, many people are unfamiliar with trusts because they assume only wealthy families can set up trusts. This is not the case, as anyone who wishes to hold assets for a beneficiary can set up a trust fund.
Finally, another important step you can take is to provide power of attorney to an agent. This grants the authorization to sign documents and make decisions on your behalf. Whether you want your business partner to make investments on your behalf or want your medical professional son to make medical decisions for you if you become incapacitated, granting someone power of attorney can help provide peace of mind.
What Can I Do to Ensure My Plan Is Legally Binding?
Unfortunately, many assume that simply printing and signing these documents is enough to ensure they are legally binding. However, this is not the case. These documents are extremely nuances, so contacting an attorney to help you through this process is vital to guarantee your wishes will be honored after you pass.
Unfortunately, there are many small mistakes you can make that impact the validity of your documents. This includes language that contradicts Michigan law, forgetting to sign the papers, or failing to update your will.
Working with Collis, Griffor & Hendra can help provide you with the peace of mind you need. Our dedicated legal team can walk you through setting up the correct documents for your circumstances. Contact us today to learn more about how we can help you through the process of planning your estate.
