Estate Planning

Looking to the future and taking steps to protect yourself and your loved ones in the event that you can no longer communicate your wishes is a process that can be uncomfortable and intimidating. However, it is essential that you create a comprehensive estate plan that can detail your wishes for medical care and the distribution of your assets upon your death.

Failure to plan for your estate, regardless of your wealth, can have serious consequences on your loved ones. Monaghan P.C. is a law firm that has more than a century of experience representing individuals in all of their estate planning needs, including the transfer of family assets from generation to generation.

Our estate planning attorneys are experienced in handling pre- and post-death estate planning, including drafting documents and making designations such as:

• Wills
• Living wills (advanced health care directives)
• Trusts
• Living trusts
• Irrevocable and revocable trusts
• Special needs trusts
• Charitable trusts
• Powers of attorney (for medical or financial)
• Medical assistance planning (Medicaid planning and asset protection)

​We also handle the probate administration of decedents’ estates and the utilization of probate avoidance alternatives, such as revocable and irrevocable trusts and family partnerships. We are frequently brought in as counsel by major corporate fiduciaries in litigation and special asset problem estates and trusts.

​Tax Planning

Tax planning is an important aspect of organizing your finances and estate for the future. However, it can be difficult to complete on your own, as tax matters can be complex and overwhelming. An experienced lawyer can review your options and assist you in determining your current and future needs.

The tax planning attorneys at Monaghan P.C. provide accomplished legal counsel and advising to clients throughout Michigan’s tri-county area in tax planning strategy. Founded over 100 years ago, our firm has always maintained the highest levels of professionalism and client service in order to meet our clients’ needs.

A significant portion of Monaghan P.C.’s tax planning practice involves advising and representing our clients in matters regarding federal gift and estate taxes, and state inheritance taxes.

Our lawyers advise clients on matters regarding tax implications for:

• Estates
• Revocable and Irrevocable Trusts
• Beneficiaries
• Private foundations
• Charitable Trusts

We advise owners of family or other closely held businesses on the tax and financial planning issues related to keeping the business within the family, including buy-sell agreements, succession planning and recapitalizations.

Protecting your assets by comprehensively planning for tax matters can be an essential step in preparing your estate. Let us help you understand what taxes may apply in which situations and how it may directly affect you and your assets.