Living Trust Attorney Midland MI
The most common Trust is a “living trust”. The Trust protects assets in a family or other kind of trust and avoids probate by passing assets directly to beneficiaries. Trusts can be irrevocable or changeable depending upon individual needs. The Family Trust is an example of a living trust. This trust is designed for you to fund or place assets in the trust at any time. The Trust is for the family’s present use and benefit and holds assets after your death for the benefit of your heirs. For instance, the Trust can own or have title to your real estate, cars, bank accounts, investments and be named as a beneficiary of insurance policies and investments. Funding a Trust now with your home and other valuable assets avoids the cost and delay associated with a transfer of this property via the Probate Court if your only estate planning tool is a will. In accord with most client’s desires, children are often the ultimate beneficiaries of a Family Trust once both parents pass on. The Trust would fund their support and education and would ultimately be distributed to them according to your directions. A Trust is an ideal tool to leave special needs funds to a disabled child who receives government benefits.
Clients have continuously been impressed with Mike’s experience and expertise in estate planning. 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.
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