Your life insurance agent, financial planner, trust officer and accountant can also be helpful. Together, this team of experts can help you create the best plan for your family. It is just as important to select the proper Trustee as it is to select the proper estate planning attorney. While a well planned Living Trust document can be just a few pages long, well chosen words and instructions can insure that your intentions and planning objectives are met. Durable Powers of Attorney for financial matters.
Many people fail to plan adequately for a lifetime disability.
You should be concerned about the possibility of your disability, that is, your inability to legally handle your affairs. In such cases, Michigan law provides for a Probate Court proceeding to have an individual or a bank appointed to act for you. Guardianship and Conservatorship proceedings involve time, expense, and perhaps even the embarrassment of trying to prove that you are mentally incompetent. Furthermore, you have no assurance as to whom the court will appoint. Everyone should consider having a Durable Power of Attorney, it can save you and your family time, money, and the inconvenience of Probate Court proceedings.