Michigan Estate Planning Lawyer Blog

There are quite a few acronyms in estate planning and special needs planning. Long Island Special Needs Planning Lawyer Ellen A. Victor has a great post on the differences between Social Secuirty Disability Income (SSDI) and Supplemental Security Income. You can read her post here: The Difference Between SSI and SSDI is More than Just a Letter.

Last night I presented to a small group of parents with special needs children at a Canton, MI middle school.  In addition to my presentation with a colleague, there was a representative of ARC of Wayne County.  We advised the parents on the legal and financial ramifications of planning for children with special needs.  My portion dealt with the estate planning issues parents with special needs children must consider.

We covered the different types of special needs trusts and how Michigan special needs trusts work.  For example, through proper planning we can

1. Protect eligibility for governmental benefits
2. Provide a higher quality of life
3. Provide a framework for care and management of assets
4. Allow parents to express their desires for care and development of their special needs child
5. Protection from creditors and predators
   
6. Extend the life of the asset

Also we covered common mistakes parents make when planning for their special needs child, including:

1. Disinheriting their special needs child
2. Relying on other children to care for their special needs child
3. Failing to provide privacy for their child with special needs
4. Choosing the wrong Trustee for their Michigan special needs trust
5. Choosing the wrong professionals to advise them

For a copy of the presentation notes, send me an email in the contact form and I'd be happy to provide it to you.

-Christopher J. Berry, Esq.
Michigan Estate Planning Lawyer

As a Michigan estate planning lawyer, I am not worried about the effect of the Legalzoom, Suze Orman Trust-in-a-box, or Quicken Willmakers of the world.  What I do worry about is the effect of those products on the general public.  Our Michigan estate planning office has seen far too many people using these cheap products, trying to substitute cheap forms for experienced legal estate planning advice of attorneys, with often times, poor consequences.

Those consequences include, assets going through a Michigan probate, that shouldn't, disqualifying special needs children from governmental benefits, unintended distributions of assets to individuals not planned for and on and on and on.  Why leave it up to chance that your heirs may have to clean up your mess because you decided to save a few bucks?

There are times where having no plan at all and relying on the Michigan laws of intestacy are better than relying on these cheap forms.

The blog by the Los Angeles Estate Planning Lawyers of the Proviso Law firm had an interesting post on this topic.  You can read it here : Los Angeles Estate Planning Lawyer.

-Christopher J. Berry, Esq.
Bloomfield Hills Estate Planning Lawyer

I was reviewing my materials for an upcoming presentation.  One of the topics that I will touch on is why people seek out Michigan estate planning lawyers in the first place.  What are the thoughts, concerns and considerations that most people have in terms of their estate planning?  Some questions to ask are:

1) Do you have a plan in place to manage your care if you were incapacitated?
2) If you have minor children, what would happen to them if you died?
3) Whom do you want to take care of their needs?
4) Should your children receive their full inheritances at age 18?
5) Will some heirs need help managing large sums of money?
6) Are there any family members with special needs?

-Christopher J. Berry, Esq.
Metro Detroit Wills, Trusts, and Estate Planning Lawyer

In Michigan, how a special needs trust is funded determines what type of special needs trust needs to be created.  A special needs trust is created to ensure that loved ones receive needed governmental benefits while protecting assets that can be used to improve quality of life.

If a special needs trust is going to be funded by a family member, friend either through gifting or an estate plan, a third party special needs trust can be created.

The second type of special needs trust, called a first person special needs trust, is created by the person who wishes to receive governmental benefits.

Special needs trusts have specific rules depending on which type of special needs trust is used, that is why it is important to speak with a Michigan special needs trust lawyer who is familiar with the area of law.

-Christopher J. Berry, Esq.
Michigan Wills and Trusts Attorney

When preparing a Michigan special needs trust or Michigan supplemental needs trust for an individual who is receiving governmental benefits, it is important to keep in mind how assets are titled.  A key is to review the beneficiary designations so that the assets that are supposed to be funded into the Michigan special needs trust are properly designated. 

It is important to have a Michigan special needs trust lawyer review those designations with you on a regular basis.

Jacksonville estate planning lawyer, David M. Goldman, has prepared a list of common assets that should be reviewed when you have a special needs child.  You can read his post Common Asset to Review With a Florida Special Needs Trust.  While David M. Goldman is an Florida estate planning lawyer, his points remain true in Michigan as well.

-Christopher J. Berry, Esq.
Michigan Special Needs Trust Lawyer