Galloway and Collens, PLLC
248-397-5507
248-397-5507

An estate plan for Michigan families is about more than dollars

People may naturally think that creating estate plans is about how to distribute funds to family members. While the distribution of family fortunes is most certainly part of an estate plan, Michigan families may want to think about how they can incorporate their faith and values into that plan. There are numerous ways a person may carry on religious values, traditions or expectations that reach beyond the scope of a dollar amount.

One way to incorporate or continue a means of support for religious values or organizations is to create a charitable trust for a church or charity that matters. It may be a one-time payout of a trust, or this can be in the form of distributions to go on for years to come. These can be very personal decisions for benefactors and beneficiaries.

Another way to personalize giving and ensure that certain values are handed down is through personalizing how funds can be used. This may be through designating money for religious education purposes. Another way to instill certain beliefs is through the act of not giving or limiting funds as a way to enforce hard work and other values held dear.

There are limitless ways to personalize an estate plan, such as through letters left behind and explicit religious requests or requests that reinforce a legacy of giving or charity work. Each estate plan must be a personal journey for an individual and family. Once a Michigan family decides specifics of how best to personalize an estate plan and how best to hand down intangible assets, such as religious beliefs and dedication to certain causes, seeking experienced and compassionate legal help should be the next step, as this will ensure an estate plan results in the outcome desired by a benefactor.

Source: postcrescent.com, "Ways to incorporate faith and values into your estate plan", Carissa Giebel, Jan. 1, 2015

No Comments

Leave a comment
Comment Information
  • dbusiness - 2016 Top Lawyers
  • dbusiness - Top Lawyers
  • Lead Counsel Rated Attorney
  • Senior & Caregiver
  • American Appartment Owners Association - Member since 2015
  • Same Address
  • ICLE Contributor
Email Us For A Response

Contact Our Metro Detroit Attorneys

Our law firm is ready to help. Contact the real estate and estate planning attorneys at Galloway and Collens, PLLC, by calling 248-397-5507.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

26075 Woodward Avenue Suite 200 Huntington Woods, MI 48070-1341 Toll Free: 888-349-0309 Phone: 248-397-5507 Fax: 248-545-2520 Huntington Woods Law Office Map