DETROIT Estate Planning LAWYER & ATTORNEY-
MICHIGAN PROBATES & Estate Planning

Christopher Tomaszycki, P.C. is a small general-practice law firm located in Troy, Michigan, which is just north of Detroit. Although this firm has practiced in many different areas of the law, one of its most precise specialties is Estate Planning. From wills, trusts and powers of attorney, to probate litigation (including guardianships and conservatorships) and gift and estate tax planning, Christopher Tomaszycki, P.C. is a great choice for all aspects of Estate Planning.

Wills and trusts are both documents which, when correctly executed, allow a person to specify exactly to whom certain assets will pass upon death. Through the use of these documents, a person can either expand or decrease the range of heirs and/or beneficiaries who would otherwise be entitled to a portion of a decedent’s assets in their absence. Wills tend to be more commonly known than trusts. When a decedent passes away testate (with a will), an estate is opened on behalf of the decedent in the local Probate Court and the assets will be distributed, with the Probate Court’s permission, in accordance with the decedent’s will. Trusts however, keep ones property out of the Probate Court completely. Property held in trust will pass according to the specific terms of said trust, irrespective of the will. Property is commonly held in trust for minor beneficiaries until reaching a certain age.

Probate proceedings include all matters which are under the jurisdiction of the Probate Courts. The most common probate proceeding is that of administering a decedent’s estate, whether testate (with a will) or intestate (without a will). Notice of the death is given to all of the estate’s interested parties, who are given the opportunity to object to the terms of the decedent’s will, among other things. However, guardianships and conservatorships are also within the Probate Courts’ jurisdiction.

Powers of Attorney are documents which allow a person to specifically decide who will be in charge of his or her financial affairs and/or medical decisions, thereby avoiding the need to later involve the Probate Court in said decisions. A General Durable Power of Attorney allows an individual to designate an attorney-in-fact, who will act on his or her behalf when managing financial affairs. Said document can either be effective immediately upon execution, or springing, (becomes effective upon its executor being found incompetent by a physician). A Durable Power of Attorney for Health Care allows an individual to designate a patient advocate, who will act on his or her behalf if he or she is not able to make decisions regarding medical care.

Guardianships and Conservatorships are similar appointments, with the difference being that the petitioner is a third party and the Probate Court, not the affected individual makes the decision to grant such powers.

Proper Gift and Estate Tax Planning can help to avoid many unnecessary taxes. For example, the Estates of decedents who left extraordinarily large estates often face high-rate estate taxes. Furthermore, the giver of a gift worth more than $11,000.00 will also face a high-rate gift tax. With proper tax planning, many of these taxes can be avoided.