Many people believe estate planning is only necessary for families with substantial wealth, and that they don’t have enough assets to really need an estate plan. Unfortunately, this often means you overlook essential legal safeguards for your family and yourself. Don’t put off creating a will or naming a guardian for your minor children until circumstances force the issue. Talk to our Lake Orion, MI estate planning lawyer about how wills, trusts, and other estate planning tools protect everything you have worked hard to build. At Gudeman & Associates, P.C., we design estate plans tailored specifically to your needs, so you’re prepared for whatever the future may bring. Contact us today for a consultation.
Estate Planning Lawyer Lake Orion, MI
An estate plan dictates how your property and assets will be managed and distributed after your death, but that’s not all. Our custom estate plans provide important protections during your lifetime. Your will and any trusts you establish ensure that your chosen beneficiaries receive the assets you intend them to have, or that charitable organizations you support receive gifts through your estate. You can also appoint a guardian for your minor children in your will; otherwise, the courts decide who will raise your child. With a will, you can designate someone you trust to raise your children according to your wishes.
There are more protections your estate plan can provide while you’re still alive. Small business owners can create a business succession plan and assign financial powers of attorney, allowing a trusted individual to manage business operations and financial decisions if you become incapacitated due to illness or injury. You may also designate a medical power of attorney to make healthcare decisions on your behalf when you are unable to do so.
Our Lake Orion estate planning lawyer advises you on how trusts may benefit you and your family. If your goal is to fund a child’s education, we can establish a trust to assist with future college expenses. If you have children from a prior marriage and wish to ensure they are provided for now that you’ve remarried, we can prepare documents to protect certain assets or place them in a trust that transfers to them upon your passing. Our personalized estate plans address a wide range of possibilities, and they’re each based on your specific circumstances and goals for building generational wealth.
Why Our Experience Matters for Estate Planning
For an estate plan to function as intended and fully protect your assets, it must be properly drafted and comply with the Michigan Estates Code. Our experienced Lake Orion estate planning lawyer has a thorough understanding of these statutes, and the estate plan we create meets all legal requirements. We can also update or revise your existing plan as your relationships and financial goals evolve.
- Founder and managing partner Edward J. Gudeman delivers consistent, hands-on involvement for every client
- Mr. Gudeman’s experience within Arthur Andersen’s tax department provides sophisticated insight into complex tax matters
- Over 100 years of combined legal experience managing sophisticated business and financial issues
- Boutique full-service firm delivering counsel in estate planning, business law, taxation, real estate, and bankruptcy
- Mr. Gudeman’s experience building and managing successful businesses offers meaningful insight into client challenges
Are you worried about what will happen to your loved ones after you pass away? Contact Gudeman & Associates, P.C. today for estate planning advice.
