WHY DOES EVERYONE NEED AN ESTATE PLAN?
The objectives can be boiled down to this:
- I want to control my property while I’m alive and well.
- I want to plan for my loved ones and myself if I become disabled.
- When I die, I want to give what I have to whom I want, when I want and the way that I want.
- And I’d like to do all of that knowing what it’s going to cost me now and later.
Effective estate planning looks at all of the issues, from death and disability to Medicaid and nursing home care.
Alles Law provides comprehensive options for ensuring the financial security of your loved ones through:
- Proper asset ownership — protecting your assets through the use of trusts and other legal instruments.
- Control of process — creating your own legal “rulebook” that permits your family to carry out your wishes and promote your values when you are no longer able to, without unnecessary legal process or courts.
Have questions about estate planning? Read some of our frequently asked questions about estate planning here.
Do you need a trust? The answer is not as simple as “yes” or “no.” How much money you have is not necessarily the way to determine if a trust is needed either. The truth is, there are numerous reasons to have (or not have) a trust. It depends on what is important to you and what you want to accomplish.
Trusts can be used for numerous reasons:
- Protect from high cost of nursing home expenses
- Avoid probate
- Reduce or eliminate estate taxes
- Provide and protect money for young beneficiaries (children or grandchildren)
- Use a trust to pass a business on to the next generation
- Assure that the family cottage is handled with care
Please contact an attorney at Alles Law for a free goals consultation regarding your any legal issue having to do with estate planning or any other legal service we offer. You can contact us by email or calling us at (616) 365-5055. Our estate planning attorneys are here to help!
What is a Will?
A Will is a legal document that outlines an individual’s wishes to be carried out upon his or her death. A Will can address a variety of topics including:
- Where and to whom an individual wants their “stuff” to end up with
- Naming guardians and conservators for minor children and a personal representative to administer the estate
After an individual’s death, the process of administering his or her Will is known as probate. We can help you prepare your Will as well as probate the estate after the client dies.
Contact us to see if a will is the right planning tool for you and your family. Also, learn more about the probate and estate administration process.
CONSULT WITH AN ATTORNEY
5070 Cascade Road SE Suite 100
Grand Rapids, MI 49546
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