Wills & Trusts
WILLS AND TRUSTS
Estate planning involves the use of wills, trusts and ancillary documents to achieve the desired distribution of the testator’s assets upon their death, as well as to minimize taxes to be paid from the estate. Basic estate planning packages are appropriate for individuals and couples that do not anticipate a taxable estate upon their death. In fact, the majority of estate plan cases fall under the Basic estate planning practices.
A carefully drafted will or trust will ensure that your estate passes to your chosen beneficiaries as desired. Advanced directives and incapacity planning documents including the Durable Power of Attorney, and a Medical Power of Attorney known legally as a Designation of Patient Advocate. In elder care, finding attorneys for wills and trusts is a common need we can fulfill.
Larger estates (over 1.5 million) require more intricate planning strategies and may include the use of testamentary trusts such as Bypass Trusts or Irrevocable Life Insurance Trusts (ILIT) to minimize the impact of estate taxes.
If you are concerned with how your property will be distributed after your death, contact The Woods Law Office to discuss your estate planning options.
We are Woods Law Office and specialize in all types of Michigan elder law and veteran law. Contact us today to learn how we can help. Our office is located in Shelby Township, Macomb County Michigan.