A Legacy Plan is the name for our custom tailored Estate Plans created for you by LADIES IN LAW®.

It depends on your unique situation. Generally, everyone needs a Will, Medical Power of Attorney, and Financial Power of Attorney.

Yes, we draft many joint Trusts for spouses.

In your personalized Legacy Plan, you can be as specific or generalized as you’d like.

A Power of Attorney is a legal document where you give someone you trust authority to make critical decisions about your medical care or finances if you are unable to. For example, if you fall seriously ill and lose consciousness, your Medical Power of Attorney will decide what treatment you receive, including life-sustaining procedures. On the other hand, if you are bed bound and cannot make it to the bank, your Financial Power of Attorney can act for you.

With a Trust you:

• Ensure your assets avoid probate court
• Maintain privacy over your affairs
• Keep full control over your property during your lifetime and after​
• Choose who will be in charge of your estate
• Provide your disabled child an inheritance while they also receive government benefits
• Shelter your assets from long-term care expenses
• Prevent real property transfer tax assessments
• Set specific conditions and parameters for receiving your assets

You should store your original Legacy Planning documents in a safe place, such as a safe deposit box. You should also make hard and digital copies to provide to your loved ones.

Yes, you can. With our packages, we offer you an opportunity to sign up for our Maintenance Plan to keep your documents updated for a nominal fee.

Your Legacy Planning documents need to be updated whenever major life changes occur, such as marriage, divorce, retirement, birth of a new child, or receiving a large inheritance. It is good to occasionally review your documents to make sure they reflect your current wishes and circumstances.

Probate is the legal process that your loved ones will go through after you pass in order to inherit your assets. If you have a Will, the probate process is much easier. If you do not have a Will, the judge, under Michigan law, decides where your assets go. The average length of a probate case is 9 months to 2 years, with the average cost totaling from 5 to 10% of the value of your estate. However, it can drag out much longer and deplete your estate if you do not have proper Legacy Planning in place.

A Trust is the single best way for your family to avoid Court and all the headache associated with it.

A Living Trust is a legal entity that you transfer property into while you’re alive and give instructions on how it is to be distributed after you pass. With a Living Trust, you own, manage, and receive all of its benefits during your lifetime. After you pass away, your loved ones will inherit your assets according to your wishes listed out in the Living Trust. Importantly, your property avoids probate court and prevents your loved ones from fighting over it.

Your Legacy Plan includes all of your personal belongings, furniture, jewelry, homes, cars, businesses, bank accounts, retirement accounts, stocks, bonds, and life insurance policies.

Legacy Planning, also known as Estate Planning, provides asset protection for your property. It also enables you to build generational wealth, care for your loved ones, and ensure your wishes are carried out after you pass. With a Legacy Plan, you set your children up for their future and may be able to protect your assets from future lawsuits.

With a Living Trust, we suggest having a specialty Will that is connected to your Living Trust, called a “Pour-Over Will”. This ensures that if any assets don’t make it into your Trust, they will still be distributed according to your wishes set forth in your Trust. Also, in a Will but not a Trust, you nominate guardians and conservators for your minor children and dependents.

In your Legacy Plan, you choose who you want to be the guardian and conservator of your child if something happens to you. You also determine how their inheritance will be used for their benefit and security. In sum, a Legacy Plan ensures your children will be cared for properly, both emotionally and financially.