You may already know the importance of funding a trust as a part of preparing for your death. It’s also important to know other things you should be preparing for before you die.
Find out everything you need to know about estate planning before you die here.
If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
Beneficiary designation assets or accounts, like other estate planning tools, should be used in conjunction with other aspects of your estate plan. When estate plans are properly drafted and prepared by a lawyer, there’s less room for mistakes. However, there are occasions where simple mistakes or oversights can result in your estate plan being disrupted.
A few common mistakes include:
Learn more about protecting your finances with estate planning tools here.
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If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
A beneficiary designation is an agreement between your estate and a financial institution to pay specific assets upon your death to a named trust or individual. For example, your life insurance policy may have your spouse or child named to receive the payout when you pass away. Coordinating your beneficiary designations with your estate planning documents is essential to protect your beneficiaries from unnecessary risk. At Pear Sperling Eggan & Daniels, P.C., we can help you to make initial beneficiary designations or review and change past designations.
Learn more about protecting your finances with estate planning tools here.
If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
The appointment of a guardian for minor children in a will or in another document requires careful consideration. When you die, the guardian’s appointment may be effective more quickly if the appointment is made in a separate writing outside the will, since the appointment can be effective prior to probating the will. While some courts require a guardian appointment in separate writing go through a probate-like verification process, there’s no statutory or case law requirement to do so. Given that situations can change, and timing of death is uncertain, some parents may prefer the probate-like verification process even when the appointed person filing an acceptance may be sufficient.
Learn more about appointing a guardian for a child outside a will here.
If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
It’s important to have a plan in case when you have a growing family.
Pear Sperling Eggan & Daniels, P.C. estate planning attorneys are here to help you plan for the unexpected.
When someone dies, a will is the most common document friends and family will search for when there is a death and may include a guardianship appointment. Learn more about appointing a guardian for a child outside a will here.
If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
According to Kiplinger, “Before it becomes necessary for a guardian to be appointed to handle your physical or financial decisions, think about whom you would trust to act in that capacity and put it in writing. Let others know that if a guardian is needed, this is the person you want to serve in that capacity. A one-page directive will make your wishes clear and remove this important decision from a judge, who knows nothing about you or your priorities.”
Learn more about why guardianships should be a last resort here.
If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
It depends on your situation. Guardianships remove you from being able to take control over your own life and puts the control into the hands of someone you trust. However, you should consider less extreme options first!
Learn more about why guardianships should be a last resort here.
If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.
