Wills and Trusts

A Failproof Way to Ensure Your Heirs Receive All Of Your Estate, Avoiding the Courts and the Probate System

Attorney Linda G. Anderson can help you prepare a Living Trust that will allow your heirs to receive the maximum benefit of your estate without the probate system, which will effectively save thousands of dollars for your heirs.

Do you want the estate to determine where your assets
will go???

Do you want the state to determine who will be the guardian of your minor children???

Attorney Linda G. Anderson provides information regarding your estate.

A will can assist you to avoid costs and many complications for your heirs upon your death. It allows your final instructions to be carried out: protecting your property, automobiles, cash, accounts, investments, jewelry and furs. You can also provide guidance to your heirs in paying your debts and you can select the person best suited as personal representative of your estate as well as providing the selection of a guardian for your children.

If you should die intestate (without a will) your property will be distributed according to State of Michigan laws, the estate will select your personal representative, and the state will select a guardian for your children under the age of 18.

Linda G. Anderson, Attorney at Law, can help you prepare a valid will that can minimize your taxes and reduce the time and expense of probate.

•	You give up your right to decide who inherits all of your property; cash, accounts, investments, homes, cars, furs and jewelry.
•	Your property will be distributed according to State Laws.
•	You cannot disinherit heirs.
•	You will lose the opportunity to select a guardian for your children.
•	Dying without a will may delay transfer of your property to your heirs.

You will need to appoint a personal representative for your will. The Personal Representative is the administrator of your estate and ensures that all heirs are located, property distributed and all debts paid according to your instructions.

Personal Representatives can be relatives or friends. However, if your estate is large and complicated, you may want to choose a professional management company, bank or trust company to administer your estate.

Your Chosen Personal Representative is not required to furnish a bond, thus saving your estate that expense. A court-appointed administrator generally takes from 3% to 5% of your estate in fees per year, an arrangement that gives him little incentive to settle your estate quickly or to minimize your estate for tax purposes. All of these costs, including court costs and attorney fees, come out of your estate.

Linda G. Anderson, Attorney at Law, can assist you in the recommendation and selection of a Personal Representative for your estate.

If you have children under the age of 18, you should appoint a guardian in your will. Without an appointed guardian, the state could select a guardian and manage their inheritance until they reach the age of maturity.

Your will can create a trust upon death that will control all property and inheritances given to your children.

A trust is also helpful for controlling inheritances at age 18, should you decide that your children may not be mature enough to handle the inheritances at so young an age.

Linda G. Anderson, Attorney at Law, can help you to select a guardian and create the trust that will support your children, and carry out your wishes.

•	Your will can include instructions on your choice of burial arrangements.
•	It may be advisable to also have these instructions written in a separate letter and held by two or three family members, as well as your Personal Representative.
•	You can also include instructions about gifting your body or body parts for research.

Federal and State taxes may be deducted from your property before transferring it to your heirs. If the value of your property is $1,200,000.00 or more, Federal estate taxes apply. Many states also impose an inheritance tax.

Linda G. Anderson, Attorney at Law, can suggest ways to reduce taxes by preparing an estate plan that may suggest several methods designed to reduce, eliminate or shift the tax responsibility among heirs, should you want them to receive their shares at a reduced tax rate.

•	Probate costs include court fees, bond premiums and the fees of professional administrators who assist your Personal Representative.
•	Linda G. Anderson, Attorney at Law, can help you reduce probate costs by suggesting estate planning methods such as: joint ownership, living trusts, lifetime gifts, and business recapitalization.
•	Some estate planning tools reduce probate costs, but may not reduce taxes significantly.

Health care Power of Attorney's are instruments used to instruct medical personnel about your wishes concerning the withholding of life support equipment and treatment while you are still alive, and to appoint someone to be your health care advocate.

A Health Care Power of Attorney will become especially important should you become comatose with no hope of survival.

This document is separate from your regular will distributing your property. Once prepared, this document should be updated and re-signed every two or three years to meet state laws and reaffirm your choices.

A copy of your Health Care Power of Attorney should be given to your medical provider as well as to your health care advocate and close family members.

Linda G. Anderson, Attorney at Law, can prepare a document for you that will allow your chosen representatives to exercise your choices at a time when only you should make the decision.

Linda G. Anderson, Attorney at Law, can comply with the many detailed requirements and prepare a valid will and explain the tax consequences to you. Your property will be distributed as you wish. This should reduce estate taxes and probate costs.

The cost of legal fees are well spent and often less than the added taxes and probate costs of dying without a will.

To obtain a private consultation, concerning the preparation of Wills or other Estate Planning Documents, with Attorney Linda G. Anderson, please call (734) 425-0379, during normal business hours Monday - Friday, 9:00 a.m. to 5:00 p.m. Evening appointments can be arranged.