Birmingham, MI, Estate Planning
Whether you’re a young professional in your early twenties, a well-settled mid-life worker, or someone who is approaching retirement, you need an estate plan. Regardless of the extent of your assets, you should have a plan in place that directs those you leave behind in the distribution of the possessions and money you own. In addition, a complete estate plan includes tools that will make your wishes known for your medical care and your money if you should become incapacitated.
Bingham Legal Group, PC, is an estate planning law firm serving Birmingham, Michigan, and other communities in the Detroit area. We can help you create a comprehensive estate plan to protect your assets, pass down your wealth to the next generation, and meet your long-term care needs. Our attorneys have the experience and legal knowledge to resolve any estate planning issues that may arise.
We’re especially proud of our experience with the estate planning issues facing nontraditional families, whose legal needs sometimes differ depending on their circumstances. Whether your family is traditional or nontraditional, we know how to build your perfect estate plan.
If you need help with estate planning in Birmingham, Michigan, contact Bingham Legal Group, PC, today.
Estate Planning Services
The future is unpredictable. That’s why it’s always best to have a plan. A well-crafted estate plan includes contingencies for anything the future can bring, including medical emergencies and unexpected expenses.
We can provide any estate planning services you need, including:
- Drafting wills and creating trusts to protect your assets and achieve your goals
- Using power of attorney and designation of patient advocate forms to prepare for your future medical needs
- Helping you plan for long-term care, including nursing home expenses
- Estate planning for nontraditional families and individuals
Estate planning is not something to put off for the future. You never know what’s going to happen or when, and if you pass away or become incapacitated unexpectedly, having an estate plan in place will make things much easier for your loved ones.
Writing a Will in Birmingham, Michigan
It doesn’t make sense to spend a lifetime building wealth and gathering property, only for the state to determine who will inherit your assets in probate court after your death. That’s why the foundation of any estate plan is a will. You can use a will to designate your beneficiaries, name a guardian for your minor children, and choose a trusted friend or family member to serve as the personal representative of your estate.
Your personal representative, also known as an executor, has several duties to perform before closing your estate. These include:
- Filing your will with the probate court
- Gathering and valuing all your assets
- Informing your creditors of your passing
- Paying off all your debts, including taxes
- Keeping accurate accounts for the probate court
- Distributing your assets to your heirs
Choosing your personal representative carefully is vital, as putting your trust in the wrong person can cause many complications and delays. Ask our estate planning attorneys how to select the right person for this important role.
Disputes over a will can cause serious conflicts or even litigation between family members. Nobody wants that to happen after they die, so creating a will that is clearly written and of unquestionable validity is important. An estate planning law firm can help you write your will or review your existing will to check for potential problems.
What Trusts Can Do for You in Birmingham, Michigan
Trusts are nearly as important to a good estate plan as a will. You can use a trust to keep your assets out of probate, saving your family time and hassle while protecting their privacy. You can also use trusts to protect assets from creditors or ensure that a family member with special needs is cared for. Talk to our estate planning lawyers about everything you can do with a trust in Michigan.
Power of Attorney
When an accident or a terminal illness leaves a person unable to make financial or medical decisions for themselves, it puts a lot of pressure on the other family members. How can they know what to do when their loved one can no longer communicate with them?
In that situation, their only choice may be to petition a court to appoint a guardian or conservator, who will simply have to guess what the incapacitated person would have wanted them to do. Bingham Legal Group, PC, can help your family if this happens, but you can prevent it from happening by planning ahead.
You can avoid this situation by filling out a designation of patient advocate form and a financial power of attorney form. These forms designate a person who will represent you and make decisions on your behalf if you become incapacitated. You can choose your spouse, another family member, or a trusted friend as your agent. You can also use these forms to communicate what your agent should do for you, sparing your family a lot of worry and stress.
Nursing Home and Long-Term Care Planning
Everyone knows that nursing homes are expensive, and that the best nursing homes are especially costly. You may have sufficient wealth to cover the expense, but you don’t want to use up your heirs’ inheritance paying for long-term care.
Many of our clients are surprised to discover that Medicare does not cover long-term care, and they may need to qualify for Medicaid to get any help with this expense. Medicaid’s asset limits can be a challenge. However, an experienced estate planning lawyer can show you how to qualify while benefiting from the assets you’ve spent a lifetime building. Due to Medicaid’s five-year lookback policy, it’s best to get started on this as soon as possible. Talk to our estate planning lawyers about nursing home and long-term care planning.
Planning for Nontraditional Families and Individuals
Probate law is based on one type of family. If you are anything other than a straight, married couple with kids, the law won’t fit your circumstances perfectly, and your estate plan needs to account for this. There are many different types of nontraditional families, including:
- Same-sex couples with adopted children
- Grandparents taking care of grandchildren
- Families with adult adoptees
- Unmarried couples, with or without children
- Uncles and aunts raising nephews and nieces
Whatever the details of your situation, you want to know that your estate plan will help you take care of the people who depend on you. Not every estate planning lawyer is familiar with nontraditional families and their unique legal needs. Choose a law firm that knows how to meet the needs of nontraditional families and individuals.
Contact an Estate Planning Lawyer Serving Birmingham, Michigan, Today
Estate planning is all about preparing for what comes next. That can mean many different things, from protecting your assets so you can pass them down to ensuring that you can pay for your medical treatment as you grow older. A skilled estate planning law firm can help you create an estate plan that will cover every contingency that may arise.
Bingham Legal Group, PC, serves Birmingham, Michigan, and other communities in the area. Our attorneys have over 60 years of combined experience in this field. Whatever your issue, you can be confident that we will know what to do. If you need help with any aspect of estate planning in Birmingham, Michigan, contact Bingham Legal Group, PC, today.