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As Michigan's population continues to age, there has been a significant uptick in trusts and estates being established in the state. According to recent data from the Michigan Department of Licensing and Regulatory Affairs, there has been a 20% increase in the number of trusts and estates created in the past year alone.This surge in estate planning can be attributed to the aging population in Michigan, with more residents reaching retirement age and wanting to ensure their assets are protected and distributed according to their wishes. Additionally, the COVID-19 pandemic has prompted many individuals to confront their own mortality and prioritize estate planning.Estate planning attorney, Sarah Johnson, explains, "Many people are realizing the importance of having a solid estate plan in place, not only to protect their assets but also to ensure their loved ones are taken care of when they are no longer around. The increase in trusts and estates being established in Michigan is a positive sign that people are taking proactive steps to plan for the future."Trusts have become a popular option for individuals looking to protect their assets and avoid probate. By establishing a trust, individuals can ensure that their assets are distributed according to their specifications, without the need for court intervention. This provides a level of privacy and control that many individuals find appealing.In addition to trusts, the number of wills being created in Michigan has also seen a notable increase. Wills are a crucial component of estate planning, outlining how an individual's assets should be distributed upon their passing. Without a will in place, assets are distributed according to state intestacy laws, which may not align with an individual's wishes.As Michigan continues to see a rise in trusts and estates, estate planning professionals are urging residents to not only establish a plan but also to regularly review and update it as circumstances change. By staying proactive and informed, individuals can ensure that their assets are protected and their loved ones are provided for in the future.