Kalamazoo Wills, Trusts & Directives Attorney Protecting You Now and in the Future
Delivering trustworthy advice and guidance
Creating a comprehensive estate plan can be a complicated process, but it is my goal to simplify it for you. The McIntyre Law Office, PC legal team consists of hard workers who are determined to find solutions to your problems. I am here to make sure your interests are protected now and in the future. I understand the complexities of estate administration and asset protection, and I use every resource available to safeguard your interests. I can help you understand the estate planning process and how it can benefit you and your family.
What is the difference between a will and a living will?
A will is a legal document setting forth how you want your estate distributed. Your will can be as specific as you want to make it, including outlining specific assets you want to pass on to certain relatives. A will can also appoint a guardian for your children if you die or become incapacitated.
A living will or advance directive describes your preferences regarding medical treatment if you're faced with a serious accident or illness. This legal document speaks for you when you're not able to speak for yourself — for instance, if you're in a coma or otherwise incapacitated.
Types of trusts
Trust agreements come in a variety of forms. Each type of trust has specific uses and advantages, so it is important to confer with a qualified estate planning attorney to determine what type of trust you need. Examples of trusts include:
- Revocable trusts. A revocable trust allows you to transfer property and assets during your lifetime. The trust holds the property for the benefit of your beneficiaries, but you reserve the right to alter the terms of the trust at any time. You can also be the trustee, which means you control the trust and the assets it holds. By placing property into a trust, you remove the property from the expensive and time-consuming probate process.
- Irrevocable trusts. Once you transfer an asset into an irrevocable trust, the asset belongs to the trust and it is no longer owned by you. You can still be the named trustee in control of the trust, but the irrevocability is what makes these trusts useful for tax planning and asset protection.
- Charitable trust. With a charitable trust, at least one of the beneficiaries is a charity or nonprofit. Charitable planning provides significant tax benefits and provides a means for recognizing worthy causes.
- Special needs trust. This type of trust is created for the benefit of a person receiving government benefits resulting from a physical or mental handicap. The purpose of the trust is to allow outside sources to provide the beneficiary with supplemental funds without endangering the person’s right to receive government benefits.
Seek sound direction from a proficient estate planning lawyer
If you are looking for an attorney who is accessible, can relate to your circumstances and cares about you and your family, contact McIntyre Law Office, PC at 269-459-1400. My office is conveniently located near the courthouse and public transportation. You can also contact the firm online.
