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Private Client law in Farmington Hills, Michigan, focuses on legal services for individuals and families regarding their personal assets, estates, and wealth preservation. It encompasses trust and estate planning, probate and estate administration, guardianships, tax strategies, and related matters. With Farmington Hills being part of Oakland County and influenced by both Michigan state law and federal regulations, Private Client law here ensures that individuals can manage, protect, and transfer their wealth according to their wishes and the requirements of the law.
People in Farmington Hills may require a Private Client lawyer for a variety of reasons, including:
A Private Client attorney ensures compliance with local and federal laws, avoids costly errors, and offers peace of mind for both the present and future.
In Farmington Hills, Private Client matters are primarily governed by Michigan state law, with some federal law considerations such as estate and gift taxation. Key aspects include:
Hiring a local attorney ensures that your documents are valid under Michigan law and appropriately address any federal law considerations.
Estate planning involves creating legal strategies and documents to manage your assets and health decisions in case of incapacity or death. It is important for ensuring your wishes are honored, your family is provided for, and taxes are minimized.
Yes, a will is still important even if you have a trust. A “pour-over will” can ensure any assets not titled in the trust are transferred there upon your death.
If someone dies without a will, Michigan's intestate succession laws determine how their assets are distributed, usually prioritizing spouses, children, and close relatives.
Select a person you trust who is organized and capable of managing financial matters. Some people choose professionals or a trust company for this role.
Yes, you can and should update your estate plan when your life circumstances change, such as after marriage, divorce, a new child, or significant changes in assets.
Probate is the court-supervised process of distributing a deceased person’s assets. It can sometimes be avoided with proper planning, such as through living trusts or joint ownership.
A power of attorney should be set up while you are still mentally competent so someone you trust can handle your finances or medical decisions if you become unable to do so.
Michigan recognizes holographic (handwritten) wills if they meet certain legal requirements, but they are more likely to be contested in court.
Probate generally takes several months to over a year, depending on the size of the estate and whether there are disputes or complications.
While you are not required to have a lawyer, settling an estate can be complex. A lawyer helps avoid mistakes, ensures compliance with the law, and can speed up the process.
If you need more information or assistance with Private Client matters in Farmington Hills, you may consider reaching out to these resources:
If you need legal assistance with Private Client matters in Farmington Hills, begin by organizing your personal and financial documents and making a list of your assets and goals. Consider what you want for your health care, end-of-life wishes, and estate distribution. Then, contact a local attorney who specializes in Private Client law to discuss your situation. A qualified lawyer will guide you through the appropriate steps, help you avoid costly errors, and provide peace of mind that your wishes will be respected and your loved ones protected.
