Over half of all adults in the U.S. do not have a will or any other type of estate planning. In essence, they have decided to let state bureaucrats decide who should care for their children and how to dispose of their belongings. Most people would agree that they were better qualified to make those decisions than a stranger. Estate planning is simply a way to protect the best interests of the people you love, with the assistance of an Estate Planning Attorney in Ann Arbor MI.
No one likes to think about the grim “what ifs,” but it’s better than not making any provisions in advance. Ask anyone who has gone through the lengthy hassles and expenses when someone dies without a will. Family members can find themselves struggling financially while they are dealing with grief.
Providing for the Children’s Guardianship
Most parents have very strong feelings as to who would be best suited to care for their children if they couldn’t. The person that the state would be most likely to approve might not be the parents’ first choice. If there would be insurance proceeds, would the guardian be the best person to manage the funds on the children’s behalf? Discuss your wishes with an estate planning attorney in Ann Arbor MI.
Living Wills and Healthcare Proxies
A living will tells family and medical personnel what you would wish done in certain circumstances. Most people think these are only useful in end-of-life situations when “machines” could be used to sustain life indefinitely, but they can be beneficial in many situations. For example, if someone normally has breathing difficulties, such as COPD, clauses in a preprinted form could prohibit the use of breathing apparatus that the patient normally uses. A person’s personal and religious convictions are also a very important consideration.
A healthcare proxy or durable medical power of attorney grants the person you appoint the authority to make medical decisions if you are not able to. This can be critically important when treatment decisions need to be made immediately for someone who is unconscious or cannot communicate.
There are a wide variety of options that might be recommended for your unique circumstances by an Estate Planning Attorney in Ann Arbor MI. Hermanowski Law has been providing estate planning and other legal services to MI residents since 1993. Visit the website at https://hermanowskilaw.com/ to learn more and contact the firm for an appointment.
