Wills and Testamentary Documents
Every estate plan should include a will even if other estate planning documents and strategies are implemented to distribute or manage property. For some, a will may be a more complicated document that works with other estate planning documents like a living trust or power of attorney to accomplish the client's goals of distributing property.
At a minimum, a will can be used to effectively accomplish a client's goals if another document or property disposition is invalid. In some cases, clients may not effectively transfer property to a living trust, which then cannot distribute property upon the settlor's death. This may occur because the maker of the trust does not get around to funding a do-it-yourself trust or the maker of the trust acquires additional property later on and does not transfer that to the trust. In other cases, a client may receive property from an inheritance or other source that is not accounted for.
Clients should consider a comprehensive plan using a will and other documents as needed to distribute property to family and loved ones in a way that protects those assets and the loved ones who receive them. If you have questions or need assistance with developing or reviewing a comprehensive estate plan, call attorney Andrew M. Steiger at Steiger Tax Law.
Contact Michigan Estate Planning Attorney Andrew Steiger for free consultation for your estate planning needs. Free consultation does not establish attorney-client relationship. Information is confidential and protected by attorney-client privilege.