Wills & Trusts
Protect your assets and ensure your wishes are honored with comprehensive will and trust planning
What Are Wills and Trusts?
A will is a legal document that specifies how your assets should be distributed after your death, names guardians for minor children, and designates an executor to manage your estate. In Michigan, wills must meet specific requirements including proper witnesses and signatures.
A trust is a legal arrangement where you transfer assets to a trustee who manages them according to your instructions, either during your lifetime or after your death. Trusts can help you avoid probate, maintain privacy, and provide ongoing management of assets for beneficiaries.
Understanding the difference between revocable and irrevocable trusts is crucial:
- Revocable Trusts: You maintain control and can modify or dissolve the trust at any time. Provides flexibility and probate avoidance.
- Irrevocable Trusts: Cannot be easily changed once established. Provides asset protection and potential tax benefits.
What's Included in Our Will & Trust Services
Last Will and Testament
- • Asset distribution instructions
- • Guardian designation for minor children
- • Executor appointment
- • Specific bequests and gifts
- • Properly witnessed and notarized
Revocable Living Trusts
- • Trust document creation
- • Trustee designation
- • Beneficiary instructions
- • Asset transfer guidance
- • Probate avoidance strategy
Pour-Over Wills
- • Companion to your trust
- • Catches assets not in trust
- • Ensures complete planning
Ongoing Support
- • Document updates as needed
- • Asset transfer assistance
- • Beneficiary change guidance
Who Needs a Will or Trust?
You should consider a will or trust if you:
- ✓ Own real estate, investments, or significant personal property
- ✓ Have minor children who need guardianship provisions
- ✓ Want to avoid the probate process (trust recommended)
- ✓ Have specific wishes about asset distribution
- ✓ Own a business that needs succession planning
- ✓ Want to maintain privacy about your estate (trust recommended)
- ✓ Have a blended family with complex distribution needs
- ✓ Want to minimize estate taxes (for larger estates)
Frequently Asked Questions
Do I need a will or a trust?
Most people benefit from at least a basic will. A trust becomes valuable if you want to avoid probate, maintain privacy, have complex assets, or need ongoing management for beneficiaries. During your consultation, we'll discuss which option best suits your situation.
What happens if I die without a will in Michigan?
Michigan's intestacy laws will determine how your assets are distributed, which may not align with your wishes. Your estate will go through probate, and the court will appoint an administrator. Having a will ensures your wishes are followed and you choose who manages your estate.
Can I create my own will online?
While online forms exist, they often don't account for Michigan-specific requirements or your unique situation. A will that doesn't meet legal standards or fails to address important issues can create problems for your family. Professional guidance ensures your will is valid and complete.
How often should I update my will or trust?
Review your estate plan every 3-5 years or after major life events like marriage, divorce, birth of children, significant asset changes, or relocation. Michigan law changes may also require updates.
Does a trust help avoid estate taxes?
Certain types of trusts can reduce estate tax liability for larger estates. Michigan doesn't have a state estate tax, but federal estate tax may apply to estates over $13.61 million (2024). We'll discuss tax strategies relevant to your situation.
Ready to Protect Your Legacy?
Schedule a consultation to discuss your will and trust options.
Schedule Consultation