Getting to Know Michelle Ogborne: Estate Planning Attorney

Empathy is an understanding of others’ feelings and distress. Compassion is empathy plus the desire to help, and Arizona attorney Michelle Ogborne knows the difference.

Michelle Ogborne began her law firm to help families during times of extreme difficulty, especially divorce and death.

Michelle Ogborne is an ex-Hoosier. That means she not only understands the difference between man-to-man vs. zone defense; she was raised with the strong family values for which Midwesterners are known. Michelle saw that the traditional legal process – estate planning, divorce; even business management – was not always protecting or even considering the needs of the family.

Michelle Ogborne and Family-First Law

Estate planning is one area of Michelle Ogborne’s practice where she can help others protect themselves as well as the ones they love. “Of course you want to protect those who love and depend on you,” says Michelle. “But it sends a different message when the worst happens, and you don’t have a will or an estate plan. If you truly want to protect them, do something about it today.”

You don’t have to be rich or have a lot of assets to put an estate plan in place. All you need is the desire to take care of and protect your family. Families are not necessarily defined by blood relationships. If you own a business, you may have a “family” of employees, partners, or shareholders.

Perhaps you have raised your step-children as your own. Are they as legally protected as your biological kids? An estate plan considers every aspect of your relationships and addresses how you want to protect them in the future.

Critical Components of an Estate Plan

Children are often our greatest asset. Their value in the world is higher than the things we acquire, and protecting them should be your highest priority. A complete estate plan that includes life insurance and ensures your wishes are carried out is critical to protecting your kids.

Guardianship

Many families have not named guardians with up to 70% of parents having not named a legal guardian for their children. “It’s important to prevent the worst-case scenario of your children spending time in foster care while the court settles your estate if you don’t have a plan for your minor children in place,” said Michelle. Equally bad is when families are torn apart fighting for guardianship. To a judge, someone who looks good on paper might be the last person you would name as your kids’ legal guardian.

If you have kids, naming a guardian for your kids is an essential part of your estate plan. It’s not enough to ask your parents or friends if they would take the kids “if something happened.” Put it in writing and make your plans legal to ensure your kids are protected in the event something happens.

Financial Management

You may not think you have the money that would require “financial management” in case the unthinkable happens. Without a plan, at age 18 your kids would receive their entire inheritance to spend as they wish. Including financial management in your estate plan allows you to make sure they have enough money left over when they are older.

What about your IRA (individual retirement account)? If your heirs withdraw money from your retirement account, they are subject to federal taxes, and the rules are complicated. Make sure that your heirs and your retirement accounts are protected and included in your estate plan.

Estate planning is dependent on ages, relationships, and other circumstances specific to you alone. You should manage your finances just as carefully as you would a business. Make sure to work with an attorney who understands how to manage both. Michelle Ogborne has a strong background and experience in business law, especially as it relates to estate planning.

POAs

We’re living longer; which is a good thing! Our minds age right along with our bodies, so many of her clients put estate plans in place to make hard decisions before their loved ones have to. Michelle Ogborne can explain the difference between a durable power of attorney (DPOA) vs. a medical power of attorney for healthcare decisions. You’re not too young to need a POA.

If you have a family you love and people who depend on you, you need an estate plan. Michelle Ogborne cares and can help. Contact Ogborne Law, PLC to learn more about Arizona estate planning.