Wills, trusts, and estates refer to different legal concepts relating to the ownership of property. A will is a legal document by which a person names another to manage his or her estate and provide for the distribution of property at death. A trust is a legal relationship whereby property is held by one party for the benefit of another. Finally, an estate refers to the entirety of a person’s property at a given point.
Michigan Estate Planning Law
An expert Michigan estate planning attorney at Goldman & Associates law firm can help you deal with matters that you may have been neglecting for quite some time. It’s very common for our clients to not be aware of everything that they need to get in order to prepare for their future. When you come to our law offices for your initial consultation, we’ll be able to help you learn more about your options pertaining to the following:
- Wills & Simple Wills
- Michigan Probate Law
- Durable Power of Attorney
- Estate Planning With Living Trusts
- Financial Concerns
Michigan provides that property not accounted for in a will is subject to the laws of intestate succession at the time of a person’s death. This means that property not covered by a will automatically goes to a deceased person’s closest relatives. Similarly, Michigan also enables the creation of ‘living trusts,’ which enable a person to hold title to property for the benefit of another person during both of their lifetimes. This is different from a will in that the property is held in the present, rather than promised in the future.
Goldman and Associates Law Firm is here to provide you with information about Probate in The State of Michigan. Goldman and Associates has years of experience and knowledge on High Assets Divorces in Michigan. Contact us today if you have any questions regarding Probate in the State of Michigan.