Frequently Asked Questions About Estate Planning and Exit Planning

Five Questions We Frequently Hear

How can we avoid probate?

The only way to completely avoid the probate court is to use a “trust-based” Empowered Estate Plan.  Most people, if they have a plan at all, use a “will” based plan, which is simply a compass pointing to the Court House.

Is there a way to eliminate or prevent any family hassles and messes?

The best way to avoid any future hassles or messes is creating a concise, articulate list of goals which usually requires a lot probing on our part.  Most often the answer to these questions are also tangled in an individual’s perception of how things currently are.

Is there a FREE assessment you recommend for Exit Planning?

The transfer of your business may be the biggest financial transaction of your life. At the Moore & Kerbawy Counselors at Law, PLLC, we utilize The ExitMap® to help clients understand their current level of preparedness so that they can begin the succession planning process.

  • It consists of 22 questions, produces a 12-page report, and only takes 15 minutes.
  • It’s easy to decide which multiple-choice responses best fit your company.
  • It requires no financial or other confidential information.
  • It takes a broader view of your business than just the numbers.

How can I control things when I’m alive and well and also my loved ones if I become disabled?

Most people are shocked to learn that if they were to become mentally or physically incompetent; i.e. “disabled”, that the Probate Court will more than likely be involved due to the requirement of having to petition the Court for a guardianship or conservatorship hearing even between spouses or domestic partners.  Only a well designed Empowered Estate Plan can avoid this.

How can I give what I have, to whom I want, when I want, and in the way I want?

This is our favorite question.  The bottom line is that it’s not about the documents it’s all about the results. To accomplish this we follow Three Step Strategy.

Peace of mind–not just a piece of paper.

Answers to the Questions You Don’t Know to Ask

What happens if I don’t have a plan at all?

Don’t worry, the State of Michigan has one for you.  As Rudy Giulilani, Mayor of New York said; “Hope is not a strategy”.  Many people simply do not invest the time, energy, and money to create any kind of plan at all. They die without leaving even a simple will always saying; ”I’ll get around to it sometime”. We aren’t exactly sure what a “Round TUIT” is but it can’t be good nor will the “no plan plan” accomplish what  you want.

Is there really a way to protect my wealth from both creditors and predators?

The purpose of an Empowered Estate Plan for wealth or asset protection is to title or structure your assets and wealth in such a manner so as to discourage lawsuits that are unreasonable in their scope, as well as avoid the horrendous monetary demands of disgruntled plaintiffs.

Is there a process or strategy I can follow to ensure that I will actually have a plan that works when I need it most?

Absolutely!!!  In our experience, most, if not all, people have individualized lives, facts, circumstances, estates, and families which of course then require individual counseling, design, and planning techniques. Our Three-Step Strategy is designed to do exactly that in order to deal with life as it actually occurs and not as we ‘hope” it will occur. You need a strategy to deal with life as it actually occurs.