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Elder Law Estate Planning
At Accettura Hurwitz, we consider an estate plan to be an essential element of individual and family planning; an owner #39;s manual of sorts. Estate planning is the process of ordering one #39;s affairs in contemplation of death or disability. A typical Michigan estate plan includes a revocable trust (sometimes called a "revocable living trust"), health care power of attorney, general power of attorney, and a last will and testament. A revocable trust has a number of advantages over a simple will. Trusts avoid probate, and provide structure during the disability of the grantor -- thus avoiding a conservatorship - and after death. By avoiding probate, trusts are not a matter of public record and therefore preserve the privacy of the grantor. Trustees must follow the terms of the trust that grants them authority. This "fiduciary" responsibility is mandated by the trust document and supported by Michigan law. Failure to comply with the terms of the trust may subject the trustee to liability. The high standard applied to trustees ensures that the grantor #39;s wishes are honored. It is this very feature that makes trusts ideal for administration of one #39;s assets before and after death.From:Elder LawViews:0 0ratingsTime:04:22More inPeople Blogs

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Elder Law Estate Planning - Video