Do You Have Questions That Need Answers?
Addressing issues like estate planning, long-term care planning and probate is not easy. With so many options available and all of them involving complex legal terms, where do you even begin?
Attorney Travis Dafoe can help you. At his law firm, Dafoe Law, PLLC, he assists clients throughout the Frankenmuth metro area to create estate plans, plan for their golden years, administer estates and more. He believes in building relationships, not just estate plans.
Frequently Asked Legal Questions
Here are answers to a few of the common questions Mr. Dafoe hears in his law office.
What is an estate plan and how is it different from a will?
A will is a document that names a personal representative to manage your affairs after you die. It also allows you to name your beneficiaries and how you would like to distribute your assets. An estate plan is a broader plan for what to do if you are incapacitated or cannot manage your affairs. It often includes a will as well as a power of attorney, a health care proxy and trusts.
What is a trust?
A trust is a financial tool that allows you to pass certain assets to someone else. A third party called a trustee manages the assets on behalf of the beneficiary. Through a trust, you can provide for a loved one for years after your death or incapacitation.
Why should I avoid probate?
Probate does not have to be the scary, avoid-it-at-all costs process that some people make it out to be. However, it can be long, expensive, stressful and complicated. If you have the opportunity to work with an attorney who can help you avoid probate, it can save your loved ones a headache once you pass away.
What is life care planning?
Life care planning is a holistic method of preparing for the care needs of your elderly relative or yourself when you are a senior citizen. With strategic care planning, you can maximize the quality of life and independence while also preserving assets from the high cost of care. You do this by proactively addressing the legal, financial and medical issues that elders may face.
Who qualifies for Medicaid?
To qualify for Medicaid, you must demonstrate that you have medical needs requiring service. For long-term care services, you must show that you have difficulty performing normal activities of everyday life. To qualify financially, you must have $2,000, a car and a house.
Is an attorney necessary for a real estate transaction?
Many people attempt to purchase or sell real estate on their own. Unfortunately, it is common to run into red tape, administrative procedures, complex paperwork and other challenges that can end up costing you much more time and money than if you had hired an attorney in the first place. When you have an experienced real estate lawyer on your side, you will have an advocate who can proactively manage any difficulties and make your transaction as smooth as possible.
What are my options if a buyer/seller isn’t holding up their end of the deal?
The first method of resolving a dispute is negotiation. This is when you and your attorney go back and forth with the other party to figure out the issue and find a resolution. If this does not work, you might proceed to mediation or arbitration. In mediation, a neutral mediator sits down with both sides to find a compromise. Arbitration involves a neutral arbitrator issuing a binding decision about the solution. Finally, you might need to proceed to litigation if neither party can agree on what to do.
Ask A Lawyer More Of Your Questions
These few answers probably only cover a fraction of the questions you have. You can reach out to Mr. Dafoe to discuss any and all things relating to estate law, long-term care planning, real estate and more. To reach him for an initial consultation, please call 989-341-4966 or send him an email.