Wendy S. Alton, Attorney

 Fausone Bohn, LLP

 41700 West Six Mile Rd, Ste 101

 Northville, MI 48168

 Call us:  (248) 380-9976

 www.fb-firm.com

 www.fb-firmblog.com

 Email me:  walton@fb-firm.com

 

Wendy S. Alton, Attorney
Fausone Bohn LLP
41700 W Six Mile Rd, Ste 101
Northville, MI 48168
ph: (248) 380-9976
fax: (248) 380-3434

Estate Planning Questions

Why do I need a Will? 

 

It is very important to have a Will.  If you have children, you must have a Will to designate who their guardians will be if something happens to you.  If you have any type of property (land, valuables, money, cars, etc...) it is important to have a Will to decide now how you want that property to be distributed if you pass away.  You shouldn't let the law or courts decide what happens to your loved ones or your property.  

A Will allows you to control those decisions and have your matters taken care of your way.

 

Why would I need a Trust if I don't have millions of dollars?

 

A Trust is a document that manages your assets while you are alive and after you pass away. Typically people think a Trust is only necessary if you have a large amount of money and need a Trust for tax planning.  While it is true that a Trust can be a good estate planning tool for that particular situation, a Trust is also a good estate planning tool in other situations, and can be used in a variety of different situations.  It can be used for parents or individuals who have young children, for people who have grown children who are spread out around the country, for people who own multiple pieces of property, or for people who would like to plan their estate to avoid probate altogether (just to name a few).  While a Trust in an estate plan is usually more expensive than just drafting a Will, if properly drafted and implemented, it can eliminate the costs of a probate estate later on down the road.  However, even if you have a Trust, you will still need a Will, Patient Advocate Designation and Durable Power of Attorney.
 
 What is a Patient Advocate Designation? 

 

A Patient Advocate is someone you designate to make medical decisions for you if you are unable to do so.  This is an important document that we recommend in all of our estate planning packages.  It allows an individual to decide now who they want to make their medical decisions if something happens.
 

Why do I need a Durable Power of Attorney

 

Most people are familiar with the term "Power of Attorney" and understand how it works.  Sometimes parents need Powers of Attorney for their children when someone else will be caring them for an extended period of time.  However, the Durable Power of Attorney that we recommend for estate planning is a document that designates an individual to handle your financial matters if you are unable to do so.  it is similar to the Patient Advocate Designation, but encompasses financial matters instead of medical.

 

Our estate planning packages are thoughtful and tailored to each individual.  They are affordable and are priced at a flat rate.   We like to meet potential estate planning clients in person and discuss their needs.  After that first meeting we can determine what estate planning package is right for that individual and what the fee will be fpr the entire estate planning package. 

If you would like to discuss your estate planning needs, please contact us by phone, fax or email. 

 

Please visit Fausone Bohn's website:

 
Contact  us today: 

Phone:  (248) 380-9976

Email us:  walton@fb-firm.com

 

Legal Disclaimer:  This site is for informational purposes only and does not constitute legal advice.  We would be happy to assist you with your legal needs, however, please do not submit us information and documents regarding your matter until we have entered into a Retainer Agreement and we have agreed to represent you.  This site and any correspondence does not result in an attorney-client relationship unless we have a written agreement in place. 

 

Copyright 2008 Wendy S. Alton.  All Rights Reserved.

Wendy S. Alton, Attorney
Fausone Bohn LLP
41700 W Six Mile Rd, Ste 101
Northville, MI 48168
ph: (248) 380-9976
fax: (248) 380-3434