Southfield Estate Lawyer

Too many American adults shrug off the importance of estate planning. Or they simply put it off, neglecting to consider the possibility of premature death and the aggravation that their loved ones may have to work through to ensure their estate is appropriately distributed.

If you want to make sure that your assets pass to your loved ones with little difficulty, don’t delay drawing up a will or an estate plan. A knowledgeable and experienced Southfield estate lawyer at Bingham Legal Group can assist with your needs.

Whether your estate is substantial — with assets spanning real estate, vacation property, businesses, and multiple financial accounts — or modest, such as a home, vehicle, and cash in a bank account that you want to pass on to your family, our lawyers can advise you on what services are appropriate and legally sufficient for your situation.

The Legal Services We Provide in Southfield

Our estate planning lawyers have more than 60 years of experience providing legal assistance to clients in Southfield and throughout Oakland County, the Detroit metro area, and other regions in Michigan. 

We handle every step in the estate-planning process, including drawing up the legal will, creating a trust, appointing beneficiaries, designating an administrator or trustee, asset protection, and will and estate plan updates.

Death often comes with no warning and does not discriminate based on age. Yet far few Americans have an estate plan or even a will. Statistics show that only 46% of adult Americans have a will. Even worse, just 26% of U.S. adults have an estate plan.

The implications of passing on often include unnecessary stress on loved ones left behind and potential disputes among beneficiaries over the allotment of the estate.

While do-it-yourself wills and estate planning websites abound on the internet, they can’t offer the same personalized one-on-one legal guidance that a knowledgeable and experienced lawyer can provide. That legal counsel will help ensure that your final wishes are executed as efficiently as possible.

The Will in Michigan

A will, or last will and testament, is a legal document that preserves your final wishes in the event that you pass. 

In addition to giving instructions on how your assets — home, vehicles, bank accounts, stock account, and other solely-owned property — are to be distributed, a will sets forth how your other affairs should be settled after death. In a will, for example, you may designate a guardian for minor children and a personal representative (estate executor).

There are three types of wills in Michigan: 

• Handwritten Will: Requires a date and signature at the end of the document 
• Formal Will: Usually typewritten, must be dated and signed before at least two witnesses and include the signature of each witness 
• Statutory Will: Easy-to-complete form provided by the state 

While some states require a will to be notarized, Michigan does not.

Passing Without a Will

“Intestate” is the term used to describe a person who dies without a will. When someone passes without a will in Southfield, Michigan, dividing the estate becomes the responsibility of the Oakland County Probate Court in Pontiac. To determine a fair distribution of the assets, the court is guided by state law, not by the deceased person’s wishes.

The court also appoints an administrator, who is charged with conducting an asset inventory, distributing the estate to the beneficiaries, and paying the deceased person’s debts.

People have various reasons for not having a will, such as they don’t own many assets, they’re uncertain of how to draft a legal will, they think they’re too young, or they expect that their loved ones will automatically receive their property after death. Regardless of the reason, those who forgo drafting a will fail to consider the impact this will have on family members.

The Consequences of Forgoing a Will

Undoubtedly, not having a will adds an extra burden to grieving family members. Here are some specific ways it can affect you and your loved ones:

• The probate court will decide how to divide your estate
• The court will decide who gets custody of minor children
• The probate process can take five to seven months
• The court appoints an administrator (a person you may not have chosen to execute your estate)
• Your loved ones will have to claim their rights to your estate
• Your children will have to prove they are your children
• Children from another marriage may not receive what you want them to inherit
• The court will freeze assets until the process concludes
• There’s uncertainty over how the court will divide the estate
• Your heirs may need to retain a lawyer

There’s only one way to make certain your estate is divided as you desire: having a will or an estate plan. The lawyers at Bingham Legal Group can help you draft a legal will so your heirs can avoid going through the hassle of the probate process. 

What Is Estate Planning?

Estate planning is not just about having a legal will, though the will is the most important document in an estate plan. In addition to the will, a comprehensive plan encompasses settling estate taxes and debts, establishing trusts, and designating a family member or friend as a patient advocate should a condition make you unable to make medical decisions for yourself.

As your legal partner, Bingham Legal Group will explain the estate planning process. We’ll thoroughly assess your family situation and your financial state. We’ll also help you set estate-planning goals customized to your situation, such as avoiding probate, protecting assets, or minimizing taxes.

We’ll work as a team to draft your core estate planning documents. Our lawyers can prepare:

• Wills
• Trusts
• Patient advocate designations
• Beneficiary designations
• Powers of attorney, including a durable power of attorney for health care

The attorneys at Bingham Legal Group have extensive experience in transactional matters and litigation. This is critical for an estate with vast and complex assets. We also provide our clients with counsel and representation on various elder law concerns, estate planning support for nontraditional families, and estate plans that relate to complex business succession.

Because life changes, estate planning documents should be regularly reviewed and updated. A review should be done every three to five years unless you experience a significant life event. Any one of these major life events should prompt a review.

• The death of a family member
• An addition to the family
• A divorce
• Remarriage
• Major health issues
• A major medical event, such as surgery or an illness
• The selling of a home
• Changes in tax and inheritance laws

Bingham Legal Group will assist with the document review and handle any updates.

Our Other Estate Planning Legal Services

Bingham Legal Group provides legal guidance and representation with any type of trust.

• Living trusts
• Revocable trusts
• Irrevocable trusts
• Charitable trusts
• Discretionary trusts
• Special needs trusts
• AB trusts
• Life insurance trusts

We also offer assistance with probate matters, including:

• Estate administration
• Fiduciary obligations
• Guardianship and conservatorship
• Probate and trust administration
• Will contests

Don’t hesitate to turn to us for help with your estate planning needs. We have the experience and knowledge to give you true peace of mind.

Do You Need Legal Guidance With Estate Planning?

If you require estate planning counsel and representation, contact Bingham Legal Group for a consultation. We can assist you in creating a will and estate plan to ensure your final wishes will be carried out to the last detail.