Estate Planning Attorney Midland MI
Estate planning can be quite a process and include many legal strategies such as wills, trusts, durable powers of attorney, health care powers of attorney, and more. Having a properly drafted estate plan is important to ensure your estate is distributed exactly as you wish after death. Mike can help you make important decisions and provide you with answers and information that will help you draft your estate plan exactly as you wish.
Clients have continuously been impressed with Mike’s experience and expertise in estate planning. He is patient, understanding, and truly cares about his clients. If you have any questions or are unsure what type of assistance you might need, contact us today.
Mike has been proudly serving clients since 1986. If you are looking for a reliable, knowledgeable, and experienced attorney, contact Mike Mishic’s office today at 989.631.2800. Our office is open Monday – Friday from 8:00 – 5:00. Contact us today to schedule an appointment with Mike Mishic.
Mike can create an estate plan that will bring you peace of mind. Here is information on some estate planning services:
Simple Will. A will names a personal representative who will oversee your estate, names beneficiaries who will receive the assets in your estate and appoints a guardian and conservator for minor children. Without a will, the law of the state you reside in when you die – not you – will determine who receives your estate.
Living trust. A living trust accomplishes what a will does, but allows you to avoid probate as the trust is administered. A living trust provides for privacy, since the assets in your estate won’t be listed in a public Probate Court file or website. Avoiding probate also means avoiding the court costs, attorney fees and fiduciary fees that come with the probate administration. Lastly, trust administration can be done much more quickly than probate, which has built-in delays to allow unhappy next-of-kin to contest the will and for creditors to file claims against the estate.
Joint Survivorship Deed. This is a tool used to keep real estate out of probate. This is especially useful for married couples who own their home. Sometimes we find that married couples received title to their home jointly, but without a right of survivorship. The solution is to prepare a new deed, by which the couple transfers the property to themselves, with a right of survivorship. Then, upon the death of one of them, the survivor automatically becomes the owner of the home. This fact is documented with the recording with the Register of Deeds a Death Certificate, without going through probate.
Enhanced Life Estate Deed or “Lady Bird” Deed. This is another tool used to keep real estate out of probate. This deed allows you to retain a life estate in your real estate coupled with the power to sell the real estate during your lifetime. Upon the current owner’s passing, the real estate is transferred to your children or any individual you desire to own it. After the original owner’s death, a Death Certificate is recorded, so the property transfers without going through probate.
Financial Durable Power of Attorney. This document is a very useful tool that allows a person to name somebody they trust who will be authorized to handle all aspects of the person’s finances. It is most useful to avoid the necessity of a conservatorship, which is a process by which the Probate Court names a person who will control the finances of a person who is unable to handle his own finances.
Health Care Power of Attorney. These documents allow you to appoint a Patient Advocate who can decide what medical measures will be taken at the end of your life. The health care power of attorney also allows you to choose a Patient Advocate who will be able to make medical decisions on your behalf if you can’t communicate with your doctor. The health care power of attorney authorizes your Patient Advocate stop medical procedures which will merely prolong the dying process, while assuring that you receive appropriate pain management.
Estate Administration. This is the process by which a person’s debts are paid, and assets are transferred to their heirs. The process is administered through Probate Court and involves the filing of many forms, and the following of procedures set out in Michigan law. It is important to have the assistance of an experienced attorney who knows probate law. Mike has administered estates in Midland, Gladwin, Bay and Saginaw counties.
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