Probate lawyer Michael Colton is now accepting new clients to work with. Schedule your free consultation today. Many people call and ask ” what documents do I need to bring to my first Probate law meeting?” In order to be properly prepared for your free consultation with a Michigan Probate lawyer, you will need the following copies:
Are you looking for a starter guide on how to put together a collection of all of your personal information to help your love ones in the event of your demise? This Peace of Mind booklet was put together by the Michigan Legislature to help the citizens of Troy, Royal Oak, Southfield, Detroit, and Farmington Hills gather their information that they need to learn more about what type of will they may need, organ donation, and information on the Patient Advocate Law.
It’s always the holidays that brings families together. This is also the time that people think about protecting the ones they love from the unexpected. This is what Michael Colton at Colton Probate Law is here for.
Colton Probate Law in Michigan offers a variety services to put your mind at ease during the holiday season such as:
A “Poor Man’s Will” can have many unintended consequences that your family may not be equipped to handle. A poor man’s estate plan is when you simply just add all of your adult children to all of your accounts and property (joint tenancy) instead of getting a will drawn up. It is called a “Poor Man’s Will” because it doesn’t require hiring a lawyer for your estate planning needs. While it may seem like a good idea at the time, there have been many cases in which this plan has backfired. Without a will , your property is subject to distribution by Michigan’s Intestacy Laws, which means that your property could possibly be passed on to the state of Michigan.
Four incidents where the Poor Man’s Will can been challenged.
If the person who shares joint tendency dies within 120 hours of the original owner of the property, the inheritance would be distributed according to Michigan’s Intestacy Laws.
Once you add a person on your name and accounts, their creditors now can try to lay a claim to their assets if they carry a lot debt.
When the person in joint tenancy is in the middle of a divorce, the spouse can try to claim the joint assets as apart of their joint estate.
All of the inheritance will go to the person that shares joint tenancy and this person may not honor your wishes on how to distribute the inheritance among descendants.