Experienced Estate Planning Attorneys in Northville, Michigan
At Steslicki & Ghannam, our Northville estate planning lawyers focus on providing this western suburb of Detroit’s 6,000 residents by answering all their questions and tailoring estate plans that work for their unique needs—no matter the size or value of their estates.
Our Wayne County and Oakland County estate planning attorneys recognize that no two Michigan clients are the same, and take the time to understand your specific situation and, most importantly, your particular goals. We will ensure that you have the information you need to make informed decisions so that we can develop the best estate plan to handle your legal and financial matters.
We partner with individuals and families to assess their assets, liabilities, family dynamics, and future needs to develop comprehensive plans that address their wishes for asset distribution, healthcare decisions, and legacy preservation.
Contact our skilled estate planning lawyers in Northville today to learn more about your options.
Steslicki & Ghannam Northville, Michigan Estate Planning Attorney Practice Areas
Our Northville estate planning lawyers work tirelessly to understand each of our client’s goals so we can tailor their estate plans to their unique circumstances. Whether you want to provide for minor children, ensure a smooth business succession, or support charitable causes, a customized plan is crucial.
Our firm offers a broad range of estate planning solutions, including:
- Asset Protection.
- Guardianships.
- Powers of Attorney.
- Wills and Trusts.
We ensure that each client’s current and long-range plans are addressed, whether simple or highly complex. Our attention to detail and broad legal experience make us one of southeastern Michigan’s premiere estate planning firms.
Contact our estate planning attorneys in Northville today to learn how we can help provide peace of mind and security for you and your family.
What Are the Essential Components of An Estate Plan?
A comprehensive estate plan includes essential components to address various aspects of asset management, healthcare decisions, and family protection. Creating a well-rounded estate plan ensures that your wishes are respected, your loved ones are provided for, and your assets are managed efficiently.
That may include:
- Wills: Executor appointment, asset distribution instructions, guardian designation for minors.
- Trusts: These manage and distribute assets according to specific terms, can help avoid probate, and provide for minors or special needs beneficiaries.
- Durable Power of Attorney: Appoint someone to manage your financial affairs if incapacitated.
- Healthcare Power of Attorney: Appoint someone to make medical decisions on your behalf if you cannot do so.
- Living Will (Advance Healthcare Directive): Specify your medical treatment and end-of-life care wishes.
- Beneficiary Designations: This section names beneficiaries for certain assets, such as life insurance policies, retirement accounts, and payable-on-death bank accounts.
- Letter of Intent: This document provides additional instructions and information to executors and beneficiaries, including funeral arrangements, personal messages, and the location of important documents.
- Guardianship Designations: Names individuals to care for minor children or dependents.
- Estate Tax Planning Documents: These documents minimize estate taxes and maximize the wealth passed on to beneficiaries, including gifting strategies, generation-skipping trusts, and charitable contributions.
- Digital Assets Plan: Manages and transfers digital assets like online accounts, social media, and digital currencies.
- Funeral and Burial Instructions: Specify your wishes for funeral arrangements and disposition of your remains, including preferences for burial or cremation, funeral service details, and instructions for any pre-paid arrangements.
- Business Succession Plan: This plan ensures a smooth transition of business ownership and management, including successor designation, buy-sell agreements, and instructions for management continuity.
By addressing these individual factors, our Northville estate planning attorneys can create a tailored plan that meets each client’s specific needs and desires, ensuring their wishes are honored and their loved ones are protected.
Who Needs a Michigan Estate Plan?
Everyone can benefit from an estate plan, regardless of age, health, or financial status.
That includes:
- Adults of All Ages: Once you turn 18, you are legally an adult, and having an estate plan ensures that your wishes are known and can be followed in case of death or incapacitation.
- Parents with Minor Children: Ensuring children’s care and financial security is critical to estate planning. Naming guardians and setting up trusts can protect their future.
- Married Couples: Estate planning helps protect and provide for a surviving spouse. It ensures that assets are distributed according to the couple’s wishes.
- Individuals with Significant Assets: Managing and distributing significant assets requires careful planning to minimize taxes and avoid probate.
- Business Owners: Business succession planning is essential to ensure the continuity and stability of the business after the owner’s death or retirement.
- Individuals with Special Needs Dependents: Providing for a special needs dependent requires specific planning to ensure they receive the necessary care without jeopardizing government benefits.
- Unmarried Individuals: Without an estate plan, state laws will dictate the distribution of assets, which may not align with the individual’s wishes.
- Blended Families: Ensuring that biological and stepchildren are provided for according to the individual’s wishes can be complex and requires detailed planning.
- Individuals Approaching Retirement: As retirement approaches, preparing for the distribution of assets and planning for potential healthcare needs becomes increasingly crucial.
- People with Specific Charitable Goals: Those who wish to leave part of their estate to charity need to plan accordingly to maximize the impact and tax benefits of their charitable giving.
- People with Complex Family Dynamics: Complex family relationships, such as estrangements or second marriages, require clear and legally binding plans to prevent disputes and ensure wishes are followed.
Contact Our Estate Planning Lawyers in Northville, MI Today
Each person’s estate plan is unique due to various personal, financial, and familial factors that influence the specific needs and goals of their estate planning. Our client’s estate plans are individualized based on their circumstances, family dynamics, financial situation, and goals. Contact our skilled estate planning lawyers in Northville today to learn more and get peace of mind knowing that your affairs are in order and will unfold according to your wishes.
