Having an estate plan in Michigan is crucial for ensuring your final wishes are respected and your loved ones are protected after your passing.
It allows you to clearly outline how you want your assets to be distributed, which can minimize the potential for conflict and confusion among your heirs.
It can also help to designate guardians for minor children and provide instructions for end-of-life care, giving you peace of mind knowing your affairs are in order.
At The Law Office of Julie A. Paquette, our legal team offers estate planning services to individuals across Michigan. Our team is committed to guiding clients through the process of creating personalized wills, trusts, powers of attorney, and other essential documents.
We’ll ensure your estate plan reflects your wishes, which can provide peace of mind for you and your loved ones.
What Happens If You Don’t Have an Updated Estate Plan in Michigan?
Estate plans should be updated regularly to ensure that all of your most recent assets and wishes are included in your document. These plans can not only include the division of possessions, but also how you would like to be cared for at the end of your life.
Failure to do so could result in a drawn-out legal process, creating stress and possible chaos for your loved ones.
The last thing your loved ones want to do while they are mourning is become involved in a contentious legal process of dividing your assets or arguing over your final wishes in a probate proceeding.
Having an up-to-date estate plan can help ensure that your family has the time to grieve and not worry about a complex legal situation.
What Changes Should I Make to My Estate Plan?
Your estate plan should be updated routinely to account for all of the new transitions and chapters in your life.
Take some time to think about the changes that this year has brought.
What about changes since you have drafted your estate planning documents? Have you thought about those changes?
Have you been reviewing your estate plan every so often to make sure the documents still reflect your wishes?
If you have not thought about these things since you first had your documents prepared long ago, now is the time.
There are several changes in everyday life that could and should lead to you updating your estate plan. Some of the most important changes to review when updating your estate plan:
- Marriage, divorce, or separation
- Birth or adoption of a child
- Death of a beneficiary or fiduciary
- Changes in beneficiaries
- Significant increase or decrease in assets
- Acquisition or sale of major assets
- Relocation to a different state
- Health or medical changes
- New laws or tax regulations
How Our Estate Planning Team at The Law Office of Julie A. Paquette Can Help
Do not hesitate to contact us at any time of significant change to see if it is the type of change that would impact your documents – we will tell you whether you must make changes or if there is no action needed.
We create the documents with flexibility to anticipate many of the common changes that occur in life, but some changes are so significant that the documents should be updated to make sure they serve you well. Address these developments right away so you can be sure your affairs are in order.
Our goal is to ensure your estate plan always reflects your current wishes and circumstances. Some life changes necessitate adjustments to ensure they continue to serve you effectively.
We are here to help no matter what life changes may come your way. Contact us and we’ll provide guidance on the best course of action for your estate plan.
Contact The Law Office of Julie A. Paquette
You don’t have to take on the burden of planning your estate alone. If your plan is outdated or you have not prepared a plan, contact The Law Office of Julie A. Paquette today to schedule a free consultation with our office.
We have years of experience in helping people in Michigan create and update their estate plans so that they can rest easy that their final wishes will be respected at the end of their lives.
