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Funding a Trust in Michigan

What Does it Mean to Fund a Trust and Why Should I Do It?

A Quick Overview of Trusts

Trusts are essentially estate planning vehicles that allow the trust maker, or “grantor,” to seamlessly transfer control of assets to beneficiaries should the grantor pass away or become otherwise incapacitated. Once a trust is created the grantor can transfer the ownership of their assets from themselves to the trust.

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estate planning packet on blue background

Do I Need an Estate Plan?

If you’re asking yourself that question, the answer is likely “yes.” Will the world end if you don’t have one? No, it won’t, but an estate plan is a valuable tool that can actually improve your quality of life. Most people, especially those with families, worry about what the future may hold.

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Estate Planning in Michigan | Planning for your parents | The Law Office of David L Carrier

Helping Your Parents Establish an Estate Plan

Depending on your parents, discussions regarding estate plans can be either easy or hard. Some people are lucky in that their parents may be at a stage of their life where they’re willing to accept some help and guidance from their adult children. Others may be resistant, which will likely make everything from gaining power of attorney to helping them find in-home assistance or a care facility difficult.

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