Our attorneys develop estate plans for both individuals and small businesses.
We appreciate that considering your mortality may be uncomfortable. However, we believe that creating your estate plan is a necessary and important decision. We provide an easy affordable process to work with an attorney in order to protect and preserve the wealth you have earned and provide for its distribution after your death. Each person has different financial, family, and philanthropic goals that need to be considered in the process. Our attorneys will work with you to create an estate plan that lets you protect your loved ones, control the distribution of your assets, and direct your end of life care. Our advice for business owners reflects especially their concern for the protection of business assets. To learn about the range of our estate planning services, contact contact a trusts and estates lawyer at Adkison, Need, Allen, & Rentrop in Bloomfield Hills.
Most of our estate planning clients are interested in learning how to protect assets, avoid estate tax liability, and when possible, sidestep the later need for probate of a substantial estate. The use of a simple last will and testament backed up by a revocable living trust to assume title over personal and real property assets alone can achieve most of these goals when done correctly. However, our estate plans provide more for our clients. We address such needs as disability planning through the use of powers of attorney and patient advocate designations, business management succession issues within a family, ongoing care of vulnerable or disabled family members through special needs trusts, and the effective use of trusts and gift transfers to protect Medicaid eligibility. These instruments not only can streamline a later business transfer and make the rights of heirs and beneficiaries explicit; they can also help avoid the need for formal guardianship proceedings in the event of your own later incapacity.
Estate planning for liquor license holders must consider state transfer rules
With a substantial liquor license practice, we make it a point to advise bar and restaurant owners that even the creation of a trust to hold a Michigan liquor license will be regarded as a transfer that must be reported to the state Liquor Control Commission.
Whatever your family's estate planning needs might involve, we offer highly personalized service and advice that is tailored in every case to our client's particular needs. Most of the estate plans can be prepared with minimal in person visits. We also offer free initial consultations and flat-rate fees for some services. For further information, contact a trusts and estates lawyer at Adkison, Need, Allen, & Rentrop in Bloomfield Hills.