Estate planning is not just for those with extensive assets. Estate planning is essential for parents with minor children, business owners, and anyone who wants to have input into decisions about their health care and finances. In short, all Michigan adults should have an estate plan designed for their needs.
The unfortunate reality is that most Americans die without creating an estate plan, even though most people readily acknowledge they want to save their heirs the expense, wasted time, taxes and grief that occur when someone dies without a proper estate plan in place. If you have a blended family, children who don't get along, or intended heirs who are not close relatives, the risk increases that your assets will not end up with whom you want them to be. Taking time to implement a few simple measures can prevent this from happening.
At Plachta, Murphy & Associates we are dedicated to helping our clients create an estate plan designed to meet their specific goals and those of their loved ones. When you create a proper estate plan, you protect much more than just your assets; you protect your family and other loved ones through a combination of:
Of course, for most people, a principal reason for estate planning is to preserve family harmony and relationships. By making your wishes clear through your estate plan you greatly reduce the risk that your loved ones will argue over what you wanted, dissipate your estate through legal battles, and create permanent rifts that could have been prevented. The cost of preparing a customized estate plan is less than you might think, and certainly less than the cost of unnecessary probate litigation.
No one plans to fall victim to a sudden, severe illness or accident, but everyone knows someone who has. Don't put your planning off until it's too late. You hold in your hands the power to protect your loved ones from worry about their future. We hold in ours the ability to help you create an estate plan designed for your situation and your family's needs.
Plachta, Murphy & Associates is a full-service law firm offering comprehensive estate planning services and probate estate and trust administration. We take pride in listening to your needs and concerns and helping achieve peace of mind for your loved ones' future with a customized estate plan. As your life circumstances change, we are here to re-evaluate and update your plan in accordance with your needs.
We invite you to download our Estate Planning Questionnaire - Married or Estate Planning Questionnaire - Single to get started, and contact Plachta, Murphy & Associates to schedule a consultation with a member of our Estate Planning team.