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Law Offices of Steve Schneider & Associates,PLC
Law Offices of Steve Schneider & Associates,PLC
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    • About Us
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      • Child Custody Forms
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  • Home
  • Practice Areas
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    • Divorce
    • Spousal Support
    • Estate Planning
    • Will vs Trust
    • Estate Administration
    • Estate & Trust Litigation
  • About the Attorney
  • Testimonials
  • About Us
  • Forms
    • Child Custody Forms
    • PARENTING TIME HANDBOOKS

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Estate Planning

What do we include in our Estate Plan Portfolio?

  

As you dive into estate planning, you’ll find a few different terms pop up such as will, last will and testament, trust, revocable living trust, and living trust.
 

Read on to learn the definitions of each:


Will


This document is used to help you carry out how you want your assets and properties to be distributed and is one of the most well known terms in estate planning. Everyone should have a will in order to avoid their assets going into probate.
 

The will is a document that declares the intentions of the deceased to bequeath money and property to specific persons after death. Possessing a will does not avoid probate, as some may believe, but a well-designed will can ensure a smooth and efficient probate process that doesn't draw on the resources of the estate while it is executed in probate. Enlisting the help of an experienced probate attorney can help to guarantee that a will is executed as intended in probate.


Living Will


The living will speaks to healthcare – it’s the document in which you note how you want your medical care handled in the event you are no longer able to declare it for yourself.


Last Will and Testament


This is a legal document that notes your assets, properties, and where and how they will be distributed when you die. The last will and testament has also been called a will.


Trust


A trust is a legal instrument designed to shield assets from passing through probate court and coming under the control of estate law. Proper trust administration can ensure that assets are not subject to the estate tax, nor are they held in probate for months after one's passing. This is possible because the assets in question are legally transferred in life from their original owner to the trust, though this can easily be written so that the owner can revoke it at any time. Trusts are an excellent way to smooth the estate administration process and avoid the majority of probate litigation, and have helped many provide a safety net for their loved ones.
 

As opposed to wills, trusts can be used to divide up your belongings while you are still alive. You write the rules of it. Your trust can have multiple beneficiaries, but our clients in Michigan typically site two.


Revocable Living Trust


This legal document is used to avoid court supervised process of wrapping your estate – also known as ‘probate.’


Living Trust


Like the name suggests, a living trust is a type of trust. It’s used to avoid probate and guarantee that in the event you become ill or for any other reason are unable manage your own assets, they will be used in a way that best benefits you.


General Durable Power of Attorney


A financial power of attorney is a document that is used to name someone to take financial and legal action on your behalf. Absent granting this authority through a power of attorney, your loved ones will likely need to petition the court to be appointed your conservator…costing both time and money. These documents can grant this power immediately, or only after your disability or incapacity when you need someone to act on your behalf.


Health Care Power of Attorney/Patient Advocate


A power of attorney for healthcare can nominate a patient advocate to make healthcare decisions on your behalf. Without the authority granted in this document, your loved ones may need to petition the court to be appointed your guardian…again costing time and money.


Appointment of Funeral Representative


Public Act 57 of 2016 allows the appointment of a funeral representative for things such as the right and power to make decisions about funeral arrangements and the handling, disposition or disinterment of my body, after my death, including decisions about cremation and the right to retrieve from the funeral establishment and possess cremated remains immediately after cremation

Estate Planning Document Fees

Individual Estate Planning Instruments

Estate planning instruments that are not bundled together into a package.

Simple Last Will and Testament

$295.00

This legal instrument is used when the Grantor does not have a trust.

Pour Over Last Will and Testament

$305.00

This legal instrument is used when the Grantor has a trust and "pours" their assets over into the trust.

Revocable Living Trust Agreement

$750.00

This legal instrument distributes your estate in place of a will, thereby avoiding probate court

Living Will

$215.00

This estate planning legal instrument dictates how you want your medical care handled. 

General Durable Power of Attorney

$300.00

This estate planning legal instrument is used for financial purposes.

Health Care Power of Attorney

$300.00

This estate planning legal instrument is used for health care purposes. 

Personal Property Assignment

$165.00

This legal instrument  is used to assign your personal property assets to your trust.

Deeds

$175.00

Quit Claim Deeds in various formats, including Lady Bird Deeds, which are an essential estate planning tool.

Appointment of Funeral Representative

$225.00

This new estate planning Legal instrument is for appointing someone to make funeral arrangements.


Estate Planning Packages

Bundled estate planning instruments.

Single Package

$2,000.00

Full estate planning bundle for one person which includes all of the above individual instruments.

Couple Package

$3,500.00

Full estate planning bundle for a married couple which includes all of the above individual instruments, for each person.

Estate Planning Portfolio

$50.00

This portfolio is used to organize and store your estate planning documents, and includes tabs and synopsis sheets for each instrument. 

all estate planning prices set forth above are estimated costs and are subject to change pursuant to the actual circumstances of each of individual.

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Law Offices of Steve Schneider & Associates,PLC

209 S. Main Street, P.O. Box 487, Almont, MI 48003, US

(810) 798-2545

Hours

Mon

09:00 am – 05:00 pm

Tue

09:00 am – 05:00 pm

Wed

09:00 am – 05:00 pm

Thu

09:00 am – 05:00 pm

Fri

09:00 am – 05:00 pm

Sat

Closed

Sun

Closed

  

Law Offices of Steve Schneider & Associates, PLC publishes this website to convey general information and not for the purpose of providing legal advice. Nothing on this site should be taken as legal advice for any individual case or situation. This Web site and its contents do not create an attorney-client or any other relationship between Law Offices of Steve Schneider & Associates, PLC and any visitor to the Web site. Electronic mail (“e-mail”) sent to Law Offices of Steve Schneider & Associates, PLC or any of its lawyers will not create an attorney-client relationship.


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