Practice Areas

Estate Planning with Trusts and Wills

The Law Offices of Kevin Adams & Associates, PLLC located in Livonia, Michigan, will help you and your family make sure that your lifetime of hard work will benefit you during your lifetime and your family and loved ones after your death. We prepare wills, trusts, powers of attorney and other documentation to meet the sophisticated estate planning needs of our clients. We assist in federal estate tax planning. We can create estate plans to handle the special needs for a disabled person’s estate, asset protection and business succession planning. After a loved one passes, we can provide compassionate trust and estate administration.

Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death. A major concern for drafters of estate plans is federal and state tax law. Lack of proper planning can cause costly expenses, unnecessary problems, court supervision of your estate, unnecessary taxes, delays, higher probability that your wishes will not be adhered to, and so forth. While proper estate planning on the other hand, produces your desired results which has a much more positive outcome upon a death or disability.

Some of the documents you may need to prepare in your estate plan are Wills, Trusts, Powers of Attorneys, Advanced Health Care Directives, Durable Powers of Attorney, Special Needs Trusts, and funding documents.

Below please find some of the issues that you should think about prior to a proper estate planning consultation with your lawyer that would assist an estate planning attorney in advising you regarding your estate planning concerns:

  • Who do intend will receive your assets upon your death?
  • Will you give your assets to your beneficiaries in a lump-sum or will you prefer that it be distributed over time?
  • Whom do you want to manage your assets and personal affairs if you become disabled or pass away?
  • Whom do you want to give the power to make healthcare decisions for you if you become disabled?
  • What types of medical care do you want if you are incapacitated or terminally ill?
  • Who will be the legal guardian of your minor children in the event something happens to you? What types of medical care (or lack thereof) do you want if you are incapacitated and can’t make the decisions concerning your healthcare?
  • How can you minimize taxes, expenses, court supervision, problems or delays for your family if you become disabled or die? Should you have any further questions, or if you would like to schedule an appointment with Kevin Adams, Attorney at Law and Certified Public Accountant I would be happy to help you and your family with your estate planning needs.

Corporate and Business Law

We handle all types of business transactions:  the organization of corporations, partnerships and limited liability companies (LLCs), managing the purchase or sale of a business, and tax planning and compliance, just to name a few.   We can create, merge, sell or dissolve your business interests and prepare your corporate records. We prepare and review loan documents for commercial transactions, prepare operating and shareholder agreements for LLCs and corporations, and draft and review commercial contracts for the sale or purchase of goods and services.

Commercial and Personal Real Estate Law

In commercial real estate transactions, we handle both simple and complex transactions. We manage the purchase, sale or leasing of commercial, industrial, rental and personal property and we can help a client develop asset protect plans and streamline those into your family succession plan.

Elder Law

Medicare’s nursing home benefit is limited and covers only skilled care but only after hospitalization. Medicare does not cover custodial or residential care. Medicaid, on the other hand, is a welfare program for health care expenses that does cover nursing home custodial and/or residential care. To be eligible for Medicaid benefits a patient must satisfy three discrete conditions: 1) wealth or resources; 2) income, and 3) need for assistance. The value of the patient’s countable assets cannot exceed $2,000. If the patient and their spouse need Medicaid benefits, the value of their combined or total countable assets cannot exceed $3,000. However, if the spouse does not require Medicaid assistance (the community spouse) may own countable assets worth $109,560. The patient’s monthly income must not exceed $1,750 to be eligible for at-home help. The income of the community spouse, however, is not a limiting factor and is not taken into account in the patient’s eligibility determination.

Until a crisis strikes, many people are unaware that Medicare and most private health insurance policies do not cover much of the costs of care defined as “custodial.” This comes as a major shock to people who then realize that they can only qualify for Medicaid benefits after they have “spent down” most of their estate. If you, your spouse, or your aging parents are considering the need for assisted living or nursing home care, you should consult an elder law attorney to help formulate a financial plan to ensure that long-term care expenses can be paid, while still preserving the assets that you or your parents worked so long to accrue. Our firm provides highly competent and experienced elderly estate planning, estate tax planning, and disability planning services; as well as probate and guardianship services to clients throughout southeastern Michigan. If you or someone you care about is facing probate or estate planning issues, an Elder Law attorney at our firm will take the time to get to know you before determining your needs. We have experience in assisting your family with decisions regarding the following:

Assisted Living

Elder Care

Hospice

Medicaid

Medicare

Nursing Homes

Guardianship and Conservatorship

The decision to request the court appoint a Guardian for your aging parent or another loved one is difficult. Our attorneys are sensitive to the issues involved. Contact  Kevin Adams & Associates, PLLC  to speak with an experienced attorney about Guardianship or Conservatorship  for a loved one.  In many situations our attorney, working with your family, will be able to resolve the situation with an economical, dignified alternative such as a an Advance Health Care Directive and a Durable Power of Attorney or Trust. If it is necessary to apply to the court to appoint a Guardian for an adult, you need an attorney with experience in Guardianship and Conservatorship issues.  We have experience preparing the requisite documents to get Court authorization for our clients, but we also function as Guardians and Conservators in certain circumstances so that we can minimize the strain on family relations.

For over twelve years our firm, has been helping families protect their loved ones through guardianships and conservatorships. When older relatives begin making bad decisions because of the influence of someone who wishes to exploit their fragile condition, you may have to contest the executed Will or the estate. Our probate lawyers will provide aggressive representation to ensure the true intentions of your loved one are carried out.

Probate Law

Probate is the legal process by which a decedent’s assets are distributed to heirs according to the terms of the decedent’s Last Will, and Michigan Statutes. If a decedent had a will, it must be filed with the Probate Court. According to Michigan law, only assets titled in the decedent’s name are probated. Assets titled in the name of a trust, jointly held assets, or accounts naming a beneficiary, are not probated.

In Michigan, probate can be particularly time-consuming and expensive. Probate avoidance is an estate planning priority for many Michigan residents. Michigan has several types of probate proceedings depending on the nature of the estate. Our Probate law attorneys can guide you through the probate process during the difficult time following the death of a loved one.

Property Tax Disputes

Our clients benefit from our firm’s extensive experience in handling property tax disputes.  Our attorneys have handled valuation appeals, Principle Residence Exemption denials, and protests to local boards of review.  If you believe that you are being treated unfairly by you local taxing authority, we will make sure that your rights are protected.

Tax Law

Kevin Adams has been a CPA and tax compliance specialist in the State of Michigan since 1988.  Our tax practice staff has over forty years of tax practice in the tax areas listed below.

Tax Practice Areas:

  • Failure to File Problems and Strategies
    •    Delinquent Employment (Payroll) Tax Issues
    •    Representation Before the IRS in Audit and Collection Matters
    •    Offers in Compromise
    •    IRS Liens, Levies and Seizures
    •    Business and Individual Tax Return Preparation
    •    Stock Option Planning
    •    Alternative Minimum Tax Issues
    •    Estate and Gift Tax Return Preparation (Forms 706 and 709)
    •    Estate and Trust Income Tax Returns (Form 1041)