In Michigan Estate Planning 2009 Tip #1, I talked about whether you have updated your financial power of attorney. Michigan Estate Planning 2009 Tip #2 covers reviewing your revocable living trust.
Most of our estate planning clients have executed a Michigan revocable living trust for the usual probate avoidance and greater control benefits versus just executing a Michigan will. One of the important keys when you execute a Michigan revocable living trust is to make sure the living trust is properly funded.
Any assets that are not funded into the trust will not avoid Michigan probate, which is one of the main reasons for setting up a revocable living trust.
With our clients, we offer an annual program called Foundations, where we meet with clients on an annual basis to ensure that all of their accounts and assets are properly funded into their trusts. This process makes sure that our clients achieve their goal of avoiding probate.
So, in 2009, have you met with your Michigan estate planning lawyer to review your estate plan and make sure all of your assets that should be funded into the trust have been funded?
-Christopher J. Berry, Esq.
Detroit Estate Planning Lawyer
Most of our estate planning clients have executed a Michigan revocable living trust for the usual probate avoidance and greater control benefits versus just executing a Michigan will. One of the important keys when you execute a Michigan revocable living trust is to make sure the living trust is properly funded.
Any assets that are not funded into the trust will not avoid Michigan probate, which is one of the main reasons for setting up a revocable living trust.
With our clients, we offer an annual program called Foundations, where we meet with clients on an annual basis to ensure that all of their accounts and assets are properly funded into their trusts. This process makes sure that our clients achieve their goal of avoiding probate.
So, in 2009, have you met with your Michigan estate planning lawyer to review your estate plan and make sure all of your assets that should be funded into the trust have been funded?
-Christopher J. Berry, Esq.
Detroit Estate Planning Lawyer
