|What is a Will?
A. Will is a document that allows one to plan for the distribution of their
property once they are deceased. A properly executed Will allows you
to decide how your property will be distributed once you pass.
What is a Trust?
A. A Trust is a mechanism for allowing you to distribute your property
while your alive and once you pass. One benefit to your heirs is that a
properly created Trust will operate outside of Probate Court
Proceedings when distributing your property saving both time and money
to the Estate once it is time to distribute the property.
What does Intestate Mean?
A. Intestate means that you pass without a Will or a Trust and the Laws
of Michigan decide how your property will pass. One benefit to an
Estate Plan is that you decide the who, what, when,where, and how of
distributing your property once your deceased.
What is a Power of Attorney?
A. A Power of Attorney is a document that when properly executed
gives another individual other than yourself the power to take care of
your financial well being when certain conditions in the document are
present such as incapacitation. Most Power's of Attorney are "springing"
in that they are executed with the idea that once you are deemed to be
incapacitated by your Doctor they "spring" into being allowing for the
person designated to work under the powers granted in the document.
What is a Patient Advocate?
A. A Patient Advocate is a rather new Phenomena in Michigan. Some
people may refer to it "Living Will" but it is a document that states your
wishes when it comes down to live or death situations and your wishes
when you can't communicate and are stuck on life sustaining machines. It
allows another person to communicate to your Doctors your wishes
when you become in a vegetative state or clearly terminal position.