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Why Start Now
A new year is a natural time to get organized and protect the people you love. A complete estate plan puts your wishes in writing, reduces stress for family members, and helps avoid confusion or court delays if you become ill or pass away. Procrastination invites problems—outdated beneficiary forms, missing signatures, or documents that do not meet Michigan’s requirements can cause avoidable costs, conflict, and delays.
What a Strong Estate Plan Should Include
Most adults need a coordinated set of core documents.
A Last Will and Testament names a personal representative (executor), directs who receives your property, and nominates guardians for minor children; note that a will alone typically requires probate in Michigan.
A Durable Financial Power of Attorney authorizes a trusted agent to handle banking, bills, taxes, real estate, and business matters if you cannot; “durable” means it remains effective during incapacity.
A Patient Advocate Designation (Michigan’s health care power of attorney) appoints a patient advocate to make medical decisions if you are unable to communicate, and a Living Will provides guidance about end‑of‑life treatment to reduce guesswork and conflict.
A HIPAA Authorization allows your chosen people to access protected health information so care is not delayed.
Many families also benefit from a Revocable Living Trust.
A trust can avoid or streamline Michigan probate, improve privacy, and provide immediate management of assets during incapacity through a successor trustee. Trusts can include instructions for young beneficiaries, blended families, and remarriage protections.
To make a trust work, “funding” is essential—retitle selected assets (such as real estate) into the trust and coordinate beneficiary designations. Account titling and beneficiary forms must match your plan: review retirement accounts, life insurance, and TOD/POD designations, and update them after life events like marriage, divorce, births, or deaths.
Consider adding a personal property memorandum (referenced in your will or trust) for specific items like jewelry or heirlooms, and include language for digital assets so fiduciaries can access online accounts when necessary.
Benefits of Planning—and Risks of Delay
A proper plan gives control, clarity, efficiency, and privacy. It reduces family conflict, helps avoid unnecessary court involvement, and ensures your chosen decision‑makers can act without delay if you become incapacitated.
Trust‑based planning can shorten timelines and reduce costs by avoiding full probate.
Guardianship nominations protect minor children, and supplemental needs trusts can support loved ones with disabilities without jeopardizing public benefits.
By contrast, incomplete or do‑it‑yourself plans often fail in practice. Common pitfalls include unfunded trusts that still require probate, generic powers of attorney that financial institutions reject, missing HIPAA releases that stall medical decisions, and documents signed without Michigan‑compliant witnessing or notarization. These mistakes can undo the very protections you intend to create.
How to Move Forward This Month
- List your assets, how each is titled, and current beneficiaries.
- Choose your fiduciaries: personal representative, financial agent, patient advocate, and (if using a trust) trustee—plus backups.
- Decide who receives your property and when; consider staged ages for young beneficiaries and any special‑needs planning.
- Gather prior estate documents, deeds, and account statements for easy review.
- Schedule document execution with proper Michigan witnessing and notarization, then complete funding and beneficiary updates.
Make This Your Most Important Resolution
Finishing your estate plan delivers immediate peace of mind and lasting protection for those you care about. If you would like professional assistance with Michigan‑compliant documents, trust funding, and beneficiary coordination, Estate Planning and Elder Law Services P.C. can guide the process from start to finish so your plan works when it matters.
