Estate Planning

Competent and well thought-out estate planning isn’t just for the wealthy.  You don’t need to own a massive estate to benefit from creating a sound financial plan or to realize some of the advantages that were once reserved for the richest Americans.

Whether or not you realize it, you already have an “estate,” which is merely a way of describing your total assets.  The wealth you have accumulated so far, and that which will be added in the future, can be subject to a wide array of forces and laws.  While careful investing and money management can help you attain wealth, changes in the tax laws can expose your assets to many vulnerabilities that a qualified estate planning attorney can anticipate and help you avoid.

Michigan estate planning attorney Dan Goeman will expertly guide you through the maze of available plans and options that are available, no matter what your wealth level.  Securing your family’s future by protecting your assts now should be a high priority.

A sound estate plan will take into consideration both your desire to protect your assets and your plans for their inheritance.  You don’t need to be listed in Fortune Magazine to be concerned about making sure that your assets are protected and distributed according to your wishes.

The perfect estate plan, above all else, is personal.  An experienced estate planning attoney like Dan Goeman can do more than list your options. Knowing which plans and methods will best help you achieve your personal objectives and knowing how to implement those plans and methods separates excellent plans from merely functional ones.  You may already be familiar with Living Trusts, Wills and the Federal Gift Tax laws, but knitting them all together in a comprehensive plan that meets your needs is best handled by competent and experienced legal counsel.

An increasing number of people each year in West Michgan are subject to Federal Estate Taxes and there is ever-increasing family contention and litigation following a death.  To make sure that your assets are secured and that they will go to those you chose to receive them, requires a sound estate plan.  No plan of this type can come about by accident, through non-attorney “trust services” or through internet forms and self-help books or software.  As a qualified Michigan estate planning attorney, Dan Goeman can help you achieve your goals and provide you with a solid and comprehensive plan to retain your assets.

Trusts

Establishing a living trust may be the single, wisest step that can be taken to protect assets and insure their future. The degree of control that a trust can provide makes them an excellent instrument, even for single people, no matter the size of your estate.

Living Trust Creation

An experienced and qualified Michigan estate planning professional can assist you in creating a living trust that is designed with your particular plans and conditions in mind. Every person, every family, has a unique profile and specific plans for the future, and there is a wide assortment of provisions that need to be considered when a trust is established.

Even the most common type of trust, where the family’s assets pass to a surviving spouse upon the death of the first and then to children or grandchildren upon the death of the second, involves more than simply signing a sheet of paper. With the assistance of someone familiar with tax law, the process can be less intimidating and a trust can be constructed properly to fit your needs.

Trust Administration Attorney

While all living trusts of any particular type have common elements and legal standings, the provisions that form the framework of the trust make each one unique. The individual aspects of each estate, as well as the plans for its survival, require that a great deal of care is taken when a living trust is first established. Maintaining the trust, too, means attention needs to be taken since a living trust is not a “file and forget” way of handling asset retention.

Whether a traditional A-B Trust best fits your particular financial needs or a more involved ILIT trust or one including pour-over provisions will best make your plans a solid reality, can be discussed with a competent Michigan estate planning and tax professional. Living trusts solve a number of concerns, not the least of which is the exposure of assets to the Federal Estate Tax, but care and solid advice are needed to create and sustain them.

For additional information, please contact the GOEMAN LAW FIRM PLLC
at (616) 796-9400.