Probate and Estate Planning Lawyer in Royal Oak, MI

The Probate Process

During probate, your loved one’s estate will be wrapped up. “Estate” refers to all your relative’s assets and property along with any outstanding debts. Ultimately, the debts will be resolved, and their assets will be distributed according to their wishes, as outlined in their will. If they had no will, Michigan’s inheritance laws will determine how the estate is distributed to their heirs.

If your relative had a will, they likely named an executor to handle the administration of their estate, which involves navigating the probate process. The more complex the estate, the more challenging and lengthier the probate process is likely to be, and in Royal Oak, probate cases are handled at the Oakland County Probate Court in Pontiac.

Estate Planning

There are important steps you can take regarding your own estate. These are designed to ensure that your financial legacy – as defined by your estate – will pass as smoothly as possible to your loved ones. Your will can address all those assets not included in beneficiary-based financial tools. And it should outline your wishes regarding their distribution, which may vary considerably from Michigan’s inheritance laws.

Putting time and effort into your estate planning now allows you to help structure and streamline the probate process when the time comes. Getting your affairs in order through estate planning provides a clear roadmap for your family. As a result, you help make a difficult legal matter less so, and in the process, you honor your loved ones in their time of need. Working closely with a knowledgeable estate planning attorney can afford you the peace of mind you’re looking for.

Important Points to Keep in Mind

There are several important points to keep in mind as you move forward with estate planning.

Estates of Every Size Benefit from Estate Planning

The fact that you may not have amassed immense wealth doesn’t mean that you don’t need an estate plan. The bottom line is that you want to continue providing for your family when you’re no longer here to do so, and estate planning tools allow you to accomplish this. Ultimately, your estate plans will evolve with your evolving estate, which means there is no future date that is better suited for your estate planning efforts.

Putting Off Your Estate Planning Isn’t a Plan

The right time to get started is not some point in the distant future. Addressing your estate planning needs now ensures that you’ll have well-considered estate planning tools in place – whenever they’re needed.

Estate Litigation Is on the Rise

Nothing makes the already difficult probate process more difficult than litigation, and it’s on the rise. By implementing careful estate plans, you greatly reduce the risk that your loved ones will face this obstacle.