In Need of an Estate Planning Lawyer?
Our skilled Lathrup Village estate planning lawyer, Douglas Kuthy, is a seasoned professional with over thirty-five years of experience in Michigan estate planning and probate law.
Officially known as the City of Lathrup Village, the city had a population of 4,408 at the last U.S. Census count. This small city, measuring just 1.5 square miles, is comprised of 1,610 households, of which 30% had children under the age of 18 living with them, 55% were married couples living together, 28% were non-families, 22% of all households comprised individuals, and 8% had someone who was 65 or older living alone.
With nearly a third of all Lathrup Village households containing children under 18, our Oakland County estate planning attorneys cannot overstate the importance of outlining your future physical and financial needs so the children in this close-knit community are protected from unforeseen challenges that could change their lives. The reality is, no matter the size of their estates, people with children need an estate plan to ensure their children’s financial security and guardianship arrangements are clearly defined and honored in the event of the parents’ incapacitation or death. We can help.
Contact Douglas Kuthy today to schedule a meeting to discuss your unique estate planning needs.
Douglas Kuthy: Lathrup Village, MI Estate Planning Attorney Practice Areas
Our estate planning lawyer in Lathrup Village knows parents owe their children a duty of care that extends beyond daily nurturing and education, encompassing the responsibility to secure their children’s future through comprehensive estate planning.
Parents should not delay estate planning to ensure their children’s financial security, establish precise guardianship arrangements, and avoid potential legal complications and family disputes that could arise without a well-defined plan.
Our skilled Lathrup Village estate planning attorney provides customized legal strategies for each of our client’s needs using a flat rate fee system that makes our services accessible to individuals, couples, and families throughout Michigan, including:
- Financial Powers of Attorney
- Health Care Powers of Attorney
- Trusts
- Wills
- Probate
Our skilled estate planning attorney in Lathrup Village is dedicated to providing our fellow Michigan residents with peace of mind at a reasonable price. With us, you can confidently plan your future, knowing that no decision or detail is left to chance. Contact Douglas Kuthy today to learn how he can help you establish and maintain your legacy while you are here to enjoy it and long after you are gone.
Why Parents in Lathrup Village, Michigan Need Estate Plans to Protect Their Children
The median age of Lathrup Village residents is 45.8 years, and most of the adults in this small and vibrant city are parents.
By creating a well-structured estate plan, they can ensure that their children are financially protected, that guardians are designated, and that their assets are managed according to their wishes in the event of incapacity or death. This foresight provides peace of mind and prevents potential legal complications and family disputes, demonstrating a deep, enduring commitment to their children’s well-being and stability.
Our Lathrup Village estate planning attorney can help by outlining your customized needs to include:
Guardianship Designation
- Ensure children are cared for by trusted individuals in case of parents’ incapacitation or death.
- It prevents courts from deciding guardianship, which might not align with parents’ wishes.
Financial Security
- Protect children’s inheritance through trusts and other financial instruments.
- Ensures funds are managed responsibly and used for the children’s benefit.
Avoiding Probate
- Helps avoid lengthy and costly probate processes, ensuring quicker access to funds for children’s needs.
- Keeps family matters private, as probate is a public process.
Healthcare Directives
- Establishes medical power of attorney to ensure trusted individuals make children’s healthcare decisions if parents are unable.
- Provides clear instructions for medical emergencies.
Special Needs Planning
- Set up special needs trusts to ensure children with disabilities receive proper care without jeopardizing their eligibility for government benefits.
- Provides for lifetime care and support for special needs children.
Education Planning
- Allocates funds specifically for children’s educational needs, from primary schooling to college.
- Ensures that education costs are covered even if parents are not there to provide.
Tax Benefits
- Utilizes estate planning strategies to minimize estate taxes, preserving more wealth for the children.
- Takes advantage of state and federal tax exemptions and credits.
Customizing Inheritance
- Establishes conditions and milestones for inheritance to ensure children receive funds when they are mature enough to handle them responsibly.
- Prevents potential misuse of inheritance at a young age.
Creating a customized estate plan assures children’s futures are secure, regardless of unforeseen circumstances. It allows parents to focus on the present, knowing their children’s futures are well-protected.
Contact Our Dedicated Lathrup Village Estate Planning Attorney Today
When it comes to estate planning, you deserve an attorney who explains things to you and solves your problems with dedication and care. This is precisely why we are here. Contact our dedicated Lathrup Village estate planning attorney today to get the peace of mind you deserve, starting with a free consultation.
