Residents of Detroit can now utilize free estate planning and additional legal support to safeguard their family homes for future generations, thanks to a joint initiative between the city government and several legal advocacy groups. Recognizing that secure homeownership and inheritance procedures are essential for community preservation and stability, they have teamed up to provide necessary legal counsel for those wanting to pass on their homes to their children and grandchildren.
To educate and guide residents, free seminars and workshops will be held regularly. Here, attorneys will discuss creating a will, establishing a trust, and other important real estate planning topics. They will also provide advice on a variety of legal matters related to property law.
Delivering this program to those who need it most is a top priority. Various community channels and local events will be used to actively promote it. By doing so, the city aims to empower its residents to contribute towards a more stable and prosperous Detroit for future generations.
This initiative is being championed by Detroit city, the Gilbert Family Foundation, and Scott Benson from the Detroit City Council. Their goal is to aid residents in protecting their assets, maintain home equity, and promote financial literacy.
Free estate planning support for Detroit homeowners
By keeping residents informed about their legal and financial rights, the risk of home loss can be reduced. Additionally, this initiative will boost community engagement, economic stability, and neighborhood redevelopment.
Detroit currently houses approximately 5,500 intergenerational assets worth over $268 million. However, the lack of crucial legal documents has made ownership unclear. This gray area has emerged as a large issue that requires immediate attention to ensure these high-value properties are handled correctly.
With the support of $668,000 from the American Rescue Plan Act funds, Detroit City is set to offer free advisory services to more than 3,000 households and provide necessary estate planning and will services to around 720 families. This vital funding will bolster resident’s financial stability and create a sense of security for the future.
The Gilbert Family Foundation has also pledged $1.5 million to aid nearly 500 families residing in heirs’ properties at risk of tax foreclosure. This generous donation will provide essential financial relief for those most in need.
To qualify for this assistance, residents must meet several criteria: they must own a home within the city, not exceed 300% of the federal poverty line in income, and be at risk of tax foreclosure. Additionally, they must own a generational home to be eligible for the Gilbert Family Foundation program.
