Maintaining Control Over Your Legacy Using Wills And Trusts
At Kravis & Associates, PLLC, we provide the rigorous, business-minded legal counsel required to protect your assets and diligently structure your estate to reflect your final wishes. Whether you are a business owner in Farmington Hills, a real estate investor in New York or a high-income family in New Jersey, our approach is straightforward: we build ironclad legal frameworks that leave nothing to chance.
Direct Accountability From A Tri-State Practitioner
Since founding this firm in 2013, Andrew R. Kravis has remained committed to a high-access, personalized model. We do not use junior associates to draft your most sensitive documents. When you work with us, you are partnering with an attorney who has over 15 years of experience navigating the specific probate and tax laws of Michigan, New York and New Jersey.
We operate with a level of responsiveness that the modern world demands, remaining available 20 hours a day to address urgent estate or business succession needs. Our focus is on competence and efficiency – we provide the legal tools necessary for estate administration without the unnecessary overhead of a large-scale firm.
Strategic Estate Planning Tools
A comprehensive estate plan often requires a combination of instruments tailored to your specific financial landscape. We specialize in:
- Last will and testament: The foundational document used to name executors, designate guardians for minors and distribute personal property.
- Revocable living trusts: A versatile tool designed to avoid the public probate process and provide a more efficient, private transfer of assets to beneficiaries.
- Irrevocable trusts: Used to provide asset protection from certain creditors, provided they are structured to meet specific statutory requirements and notice periods.
- Power of attorney and health care directives: Essential for designating a trusted agent to manage your business and medical decisions should you become incapacitated.
For our clients in Michigan and throughout New York and New Jersey, we ensure that these documents are not just legally valid but strategically aligned with your broader real estate and business goals.
Frequently Asked Questions
The legal complexities of estate planning in Michigan, New York and New Jersey require clear answers to fundamental structural questions. The following frequently asked questions address the primary concerns we encounter when helping clients secure their legacies.
What are some differences between wills and trusts, and which should you choose?
A will takes effect only upon death and must pass through the public probate court process. In contrast, while a funded trust typically bypasses probate for the assets it holds, a comprehensive plan still includes a pour-over will for any assets remaining in the individual’s name. While a will is essential for naming guardians, most business owners and individuals with commercial real estate holdings prefer the control and continuity provided by a trust.
What are some different forms of trusts to consider?
Common options include revocable living trusts for flexibility, Irrevocable Trusts for tax planning, and special needs trusts to provide for disabled heirs without jeopardizing government benefits. For business owners, we also explore buy-sell agreements funded through trusts to ensure smooth ownership transitions.
How can an estate planning attorney help with the process?
An experienced New Jersey estate lawyer or Michigan wills and trusts practitioner ensures your plan complies with three distinct sets of state laws. We identify potential tax liabilities and loophole risks that DIY forms often miss, providing you with a customized strategy that safeguards your business and family for generations.
Take The First Step Toward Securing Your Legacy
We offer free consultations to discuss your estate planning needs across Michigan, New York and New Jersey. Contact us today to work directly with a veteran attorney who prioritizes your business interests. Call 248-929-5065 or fill out our contact form to schedule your free consultation.