Thomas Legal, PLLC

LAW UPDATE: Michigan’s new Power of Attorney Act Effective July 1, 2024.

Will-Based Estate Plan

Secure Your Legacy with Thomas Legal, PLLC

Your will-based estate plan brings together several tools to help you manage your finances, healthcare, and final wishes effectively.

Your financial power of attorney allows someone you trust to manage your finances if you can’t, ensuring your bills, investments, and expenses are handled without court involvement.
Your patient advocate designation empowers someone to make medical decisions for you, making sure your healthcare choices are respected.
Your simple will acts as a guide for the probate court, allowing you to appoint a personal representative to manage your administrative affairs, name guardians for your minor children, and outline how your remaining assets should be distributed. When a minor child is set to inherit under your will, the probate court may establish a conservatorship to manage and protect those funds until your child reaches adulthood, ensuring the money is used for their needs like education and care.

Your funeral representative designation makes sure your chosen representative carries out your funeral and burial or cremation wishes.

Together, these tools provide you with a coordinated plan to protect your finances and healthcare decisions during your lifetime and to ensure your wishes are honored and your loved ones are cared for after your death.

Learn More

Take the next step to protect yourself and your loved ones. Click the button below to contact us and schedule your consultation. We’ll help you create or update your will-based estate plan so your assets, healthcare decisions, and final wishes are managed exactly the way you intend—now and in the future.

Secure your estate before it’s too late!

Advantages and Disadvantages of a Will-Based Estate Plan

Advantages of a Simple Will:

Disadvantages of a Simple Will:

The advantages of your Simple Will include its simplicity, as it’s easy for you to create and requires less time and effort than setting up a trust. No funding is required, meaning you don’t need to transfer your assets into it, saving you time and hassle. For smaller estates, your Simple Will—especially when paired with a Lady Bird Deed—can provide an effective and efficient way to distribute your assets.

Disadvantages of a Simple Will:

The disadvantages of your Simple Will include the probate requirement, which means your will must go through the court process that can be time-consuming and costly—unlike a revocable living trust, which avoids probate entirely. Because your will becomes public record, anyone can access details about your estate and beneficiaries, while a trust keeps that information private. Your Simple Will also offers less protection for your minor children, since it doesn’t create a structured plan for managing their inheritance as a trust would. Finally, probate increases the potential for disputes, as it makes it easier for others to challenge your estate decisions.

Will-Based Estate Plan

Secure Your Legacy with Thomas Legal, PLLC

Learn More

Advantages and Disadvantages of a Will-Based Estate Plan

Advantages of a Simple Will:

Disadvantages of a Simple Will:

Disadvantages of a Simple Will:

Disadvantages of a Simple Will:

Disadvantages of a Simple Will:

Disadvantages of a Simple Will:

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