Estate Planning

Myers & Myers gained experience in estate planning because our business clients kept asking us if we could help with their business succession and personal estate plans. Our attorneys are experienced in all types of estate plan and business succession strategies, from the most “simple” to high value estates with complex needs. We stride to provide custom estate plans, efficiently. Below is a brief description of common topics addressed in estate planning and business successoin. Give us a call or submit a request for an appointment today to find out how we can help you. 

Wills and Trusts

Without a will and/or a properly funded trust, the laws of the State of Michigan will decide what happens with a person’s assets when they pass. A will is the document that communicates your desires to the probate court and any administrator of your estate. A trust is the document that communicates your desires to a trustee who is charged with following the rules you have set forth in the trust. 

Powers of Attorney

There are two main kinds of powers of attorney in Michigan; a financial power of attorney and a healthcare power of attorney. They both have been called many different names over time, so you may also recognize the term “Durable Power of Attorney” and “Healthcare Directive”, among others. In these documents, clients designate agents to make certain financial transactions and/or healthcare decisions on the client’s behalf during the client’s lifetime.

Asset Planning

Whether clients have specific ideas about how certain assets will be handled, or want a more one-size-fits-all-assets approach, we will help clients understand how certain assets will be treated upon their death. Then, we provide recommendations and/or prepare documents to ensure the assets are treated in accordance with the client’s plan. Most often, questions about real estate arise. With our firm’s background in real estate law, we are uniquely positioned to guide clients as they decide what to do with these valuable assets. 

Business Succession

A person’s membership interest or stock in a business is a personal asset. When a person passes, if there is no contract or governing document that dictates otherwise (and sometimes if there is), then their membership interest or stock may have to go through probate. There, a personal representative will be appointed with the authority to transfer the interest to the decedent’s heirs, sell the interest, or otherwise dispose of it. Every entity, regardless of how it is formed and how many owners are involved, needs to thoughtfully consider what will happen when one or more of the owners dies or is incapacitated. Our firm’s experience in all aspects of business law, along with our experience in estate planning and administration, provides the perfect compliment to assist our business clients in their succession plans. 

At Myers & Myers, we can help you with a wide variety of estate planning concerns, including:

• Asset planning 
• Business Succession 
• Buy and Sell Agreement
• By-laws
• Financial Power of Attorney
• Medical Power of Attorney
• Operating Agreement
• Shareholder Agreement
• Special Needs Trusts
• Trusts 
• Wills

To speak to an attorney at Myers & Myers, PLLC, about estate planning: fill out the contact form on this site, or book a consultation directly using this link.