PFCU - MI Credit Union

Join us for this valuable member-exclusive session where we’ll walk you through the key steps of estate planning and how it can help protect your loved ones and provide peace of mind for the future.

In this webinar, you’ll discover:

• Why estate planning matters—no matter your stage of life or the size of your estate
• How to safeguard your assets and care for your family through a solid estate plan
• The tools and support available to you as a member

Webinar Details:
Date: April 23, 2026
Time: 12:00 pm

Reserve Your Spot Now

Estate planning is the process of organizing your assets, healthcare decisions, and final wishes so they're handled according to your preferences — both during your lifetime and after your passing. It helps protect your loved ones and avoid unnecessary legal complications.

An estate plan ensures your assets are distributed according to your wishes and that someone you trust can make financial and healthcare decisions on your behalf if you become incapacitated. It can also provide for your loved ones, name guardians for minor children, and help avoid probate court. Without a plan, state laws will determine how your assets are handled.

A will is a legal document that outlines how your assets should be distributed after your death and names guardians for minor children. It goes through probate court. A trust is a legal arrangement where a trustee holds assets for beneficiaries. Trusts can offer more control, privacy, and help avoid probate, but are generally more complex to set up.

Yes, documents created through reputable online estate planning services like Legal Karma are legally reliable, provided they are properly signed, witnessed, and notarized according to your state's laws. Legal Karma provides clear instructions and guidance to help you complete your documents. For specific legal advice, please schedule an appointment with a qualified attorney.

Yes. The state-specific, reliable document templates are created by attorneys. After you have entered your responses and submitted the questionnaire, your documents will be emailed to you to print, sign, and notarize.

Our templates are designed for those with straightforward estate planning goals. If you have complex financial situations, family structures, or unique needs it’s always best to confer with a licensed professional to determine the type of estate plan that best meets your particular circumstances.

Yes, you can still create a will or trust even if you already have healthcare documents like a living will or healthcare power of attorney. Those healthcare documents cover only medical decisions, not what happens to your property. A will directs who receives your assets after you pass and names guardians or executors, while a trust can help your assets avoid probate and provide more control over how and when they're distributed. Having both sets of documents ensures your healthcare wishes and your financial and estate matters are fully covered.

Probate is the legal process of administering your estate after you pass. This court process involves identifying and valuing your assets, paying any outstanding debts, and distributing the remaining assets to the heirs. Probate primarily applies to individuals who only have Wills in place (or nothing at all).

No. A will must go through probate be approved as valid by a court and carry out the terms of the will. With a will, the probate process is required to administer the will, pay debts and taxes, and transfer ownership of property.

There are certain estate planning strategies that may help you avoid probate, such as creating a revocable living trust, designating beneficiaries for your assets, and establishing joint ownership of property.

There are no requirements in any state to keep a will or trust on file before death. However, some states (such as Michigan or Wisconsin) allow you to deposit a will with the probate court for safekeeping before death. This is optional and not a requirement. Please check with your local county clerk for more information.

Funding a revocable trust involves transferring ownership or title of your assets from your name to the trust's name. Common assets that should be funded into your trust include real estate, bank accounts, investment accounts, and other titled property. To do this, contact the respective financial institutions, title companies, etc., and complete the necessary paperwork provided by the entity. They may ask for a copy of your signed trust certificate. Funding your trust is a very important step — if you do not change the title/ownership of your assets to your revocable trust, you will not avoid probate.

If you have an outdated estate plan that was created outside of Legal Karma, you can easily create a new one with our affordable plans offered as a credit union member.

It's generally recommended to review your estate plan after any major life event or at least every 3–5 years.

Please Note: 

• Your new estate plan will supersede your outdated estate plan.
• We currently do not offer Trust amendments, but they are coming soon!

The available estate plan document tools include a Last Will and Testament or Revocable Trust, General Durable (Financial) Power of Attorney, Medical Power of Attorney, Advance Directive/Living Will, HIPAA Authorization, Declaration of Appointment of Guardian, and Appointment of Agent to Control Disposition of Remains.

• Last Will and Testament - This document defines how your estate will be distributed (who inherits what) and appoints the person who will handle your final affairs as your Executor (sometimes referred to as your “Personal Representative”).
• General Durable (Financial) Power of Attorney - This document allows your named agent(s) the authority to make financial, property, and investment decisions in the event you become incapacitated.
• Medical Power of Attorney - This document gives your named agent(s) the authority to make health care decisions in accordance with your wishes in the event you are unable to make decisions for yourself.
• HIPAA Authorization - This document gives authorization for your physician or medical entity to disclose your health information to your designated representative.
• Living Will / Advanced Directive for Physicians - This document communicates your decisions about end-of-life care.
• Declaration of Appointment of Guardian - This document designates the person(s) you would like to serve as your guardian in the event you need a guardian to manage your affairs during your lifetime.
• Appointment of Agent to Control Disposition of Remains - This document appoints your agent to control and make decisions regarding your bodily remains.
• Revocable Trust – During your lifetime, you serve as the Trustee of your own Trust, retaining control over the assets titled into your Trust. This document provides you the opportunity to name who will continue on as successor Trustee of your estate when you are no longer able. The Trust provides authority and direction for how and to whom your assets and personal property will be held or distributed.
• Pour-over Will - This document works in conjunction with a Revocable Trust. “Pour-over” provides that any assets not arranged for with the Trust are to be moved into the Trust for the purposes of managing your estate.
• Certificate of Trust - This document is a summary of the provisions in your trust to provide to financial institutions (banking, brokerage/investment, etc.), title companies, etc. when moving assets in or out of your Trust or when naming your Trust as a beneficiary on an account.

A Revocable Trust can be changed or revoked by the person who created it while an Irrevocable Trust typically cannot be changed or revoked, except in very limited circumstances with court permission and the approval of all beneficiaries.

Everyone can benefit from having an estate plan, regardless of the size of their estate. An estate plan has benefits that are more than just the value of an estate. Yes, an estate plan can ensure your assets are distributed according to your wishes. Additionally, other documents in a comprehensive estate plan allow you to name trusted loved ones to assist with making financial and medical decisions during your lifetime if you need their help.

Your estate plan will be emailed to you directly. Along with the documents, you’ll receive written instructions for signing and notarizing the documents in your package. Once the documents are signed and notarized, make copies to share as needed and store the originals in a safe location (a safe deposit box or secure location at home).

Letting your loved ones know you have created a plan, and where to find the documents if they need to act on your behalf, can eliminate confusion and further disruption in trying times. However, it is entirely up to you if, whether, or how, you share your information.

Yes. Your information is stored and secured with the highest levels of protection. We are serious about security and will never share or sell your personal information.