Estate Planning Lawyers in Traverse City, Michigan
The estate planning lawyers at the Neumann Law Group in Traverse City, Michigan can assist you with your estate planning needs. It is never too soon or too late to begin estate planning. In short, estate planning involves putting together a financial and legal plan regarding what will happen to your assets, money, and plan for how your financial responsibilities will be managed should you pass away or become incapacitated. An estate plan may involve a will, or a trust that outlines your assets and specifies to whom they will go. While many people will be able to complete their estate planning with a will, a trust may be able to assist your family in avoiding probate and may be able to help you when it comes to certain taxes.
An estate planning lawyer in Traverse City, Michigan can look at your plan as a whole and help you reduce estate taxes, gift taxes, income taxes, and other taxes that your loved ones and heirs may face during probate or after you pass away. One way to reduce these obligations is to use a trust to pass on assets. A trust might not be right for everyone, though. The Neumann Law Group is an estate planning law firm in Traverse City, Michigan that may be able to help you navigate the estate planning process.When Do I Need an Estate Planning Lawyer?
Many families and individuals may try to write their will themselves or use online software. While these solutions may work if you have very few assets, have a simple situation where your estate isn’t likely to encounter disputes or issues, or if you are very clear about what you want for your estate after you pass away, you may be able to write your will yourself or even use online software. But, if you have questions about the estate planning process, want to learn more about how you might be able to reduce your estate tax obligations, have questions about whether a trust is right for you, or have a complex estate, you may want to speak to an estate planning lawyer like the attorneys at the Neumann Law Group in Traverse City, Michigan.
How can the Neumann Law Group help you? Our estate planning lawyers may be able to assist you if you have a large estate, have a business and have questions about how you can pass on your legacy through estate planning, or if you plan to distribute your estate to a charity or to heirs that aren’t family. When it comes to passing on your estate to individuals who wouldn’t normally receive your estate under intestate laws, it can be helpful to have an estate planning law firm on your side. If you have minor children and want to specify childcare issues in your estate plan, an estate planning law firm may also be able to help.
When it comes to estate planning, especially if your concerns are complex, it is important to get your plan right. Failing to do so could create issues in probate, could lead to unresolved disputes that may need to be taken to court, or your family paying more than they need to after you pass away. A strong estate plan may also include advanced medical directives and powers of attorney. If you have an illness that could lead to your disability or inability to make decisions for yourself, having these documents in place could allow your loved ones and family members to make decisions for you and for your financial health before you pass away.
The estate planning lawyers at the Neumann Law Group in Traverse City, Michigan may be able to assist you if you have questions about your estate, your will, a trust, or your legacy. We can help you find the right estate plan for your needs, and can also assist your family through probate. Contact us today to learn more.Probate Lawyers in Traverse City, Michigan
The probate lawyers at the Neumann Law Group in Traverse City, Michigan can help your family if you are going through probate after a loved one has passed away. Probate is the process by which a will must be proven valid in court. During the probate process, the property must be accounted for, appraised, taxes and debts paid, disputes resolved, and property distributed to proper heirs. In the case of a small estate, the process may involve filing paperwork with the court, performing proper accounting and making proper notices, and distributing property accordingly. But with a more complex will, or larger estate, the probate process can sometimes get complicated. The Neumann Law Group is a probate law firm in Traverse City, Michigan that may be able to assist you and your family. If you are grieving the loss of a loved one, the last thing you want to deal with are court dates and legal processes. The Neumann Law Group is a probate law firm in Traverse City, Michigan that may be able to help you.