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Stuart Collis, Ypsilanti Attorney, Talks About Estate Planning

February 22, 2010 by Collis & Griffor PC

Estate Planning is the process by which you arrange for the disposal of an estate in an attempt to lessen the uncertainties over the administration and to maximize the value of the estate. It usually includes wills, trusts, powers of attorney as well as living wills. Learn a bit about estate planning with Stuart Collis, an Ypsilanti Attorney.

Living Wills and Medical Powers of Attorneys

A living will is a document that provides direction to those around you in the event that you are unable to speak for yourself. Though Michigan does not recognize the living will specifically, it does provide a statute for authorization of Medical Powers of Attorney and gives a person appointed by you the power to make health care decisions for you. This person is called a Patient Advocate. They are only able to act while you are unable to do so, and unless in writing are unable to direct any treatment that is likely to cause death, such as ending medical treatment.

Trusts

A Trust may be established in a variety of cases as decided by you. It is provided as a way for the Grantor, otherwise known as Trustor, Donor or Settler, to benefit one or more than one individual known as a beneficiary. Those in charge of the trust are known as trustees and are responsible for managing the trust for the benefit of the beneficiaries solely. Generally, if your estate is worth less than $600,000 in assets, a trust is not needed in states such as Michigan, as there is no inheritance tax. However, if you are concerned with those receiving your estate due to other reasons, you are always the final decision in whether or not a trust is needed. If you are planning on establishing a trust, it is always advised that you consult an attorney such as an attorney in Ypsilanti.

Wills

A will is different than a trust in that it is a legal tool which specifically states what goes to whom and in what way, but only becomes legal after it is probated after death. Wills are essential for planning how your assets will be distributed after death. If a person fails to create a will, than their estate and assets will have to pass through intestacy, or by the rules of the state. It is always recommended that you create a will and name an executor of your estate even if you have also created a trust, as it will serve as a backup for any assets not mentioned in the trust. There are many legalities involved with the creation and validation of a will, therefore it is always recommended that you consult an attorney when you decide to write a will.

If you live in Michigan and are looking for legal representation in planning your estate, an attorney in Ypsilanti may provide you with key services necessary to assist you in your planning. Contact Collis & Griffor, PC if you have questions on Estate Planning including Medical Powers of Attorneys, Trusts or Wills.

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1851 Washtenaw Rd.
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Collis & Griffor, PC
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Michael Bowerman
17:09 13 Apr 17
I have used Stewart Collis on three separate occasions over the past 10+ years, two concerning animals and once for family law. In all three cases, Stewart has been prompt, courteous and understanding of my concerns. I would recommend him to anyone looking for advice or representation.
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I am a business owner and Collis and Griffor PC was extremely helpful in setting up my LLC and other business documents. They worked very closely with me to make sure I understood exactly what I needed. I have consulted with them at every turn, and I appreciate the personal touches. I would highly recommend this firm to everyone with legal needs. Collis and Griffor PC is the best firm out there!
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Terribly unprofessional and rude. He asked for us to talk to him like he is dumb. Saying "I'm not a dumb person, I just like to ask dumb questions." When we expressed how we felt he was condescending in his approach we were promptly asked to leave. Like the other reviewer says take your business elsewhere.
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Went through this firm to attempt to help a friend. Basically charged me thousands of dollars to tell me in the end that they couldnt help me with my legal problem. Roughly four thousand dollars and did absolutley nothing. Got taken to the cleaners. Take my advice and your business else where.
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Josh Duncan
17:10 16 Jan 17
Highly recommend! Friendly staff and knowledgeable attorneys.
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