News Summary
Detroit is set to launch ‘Life and Legacy,’ a series of free estate planning workshops aimed at empowering residents to protect their assets and preserve generational wealth. Beginning in spring 2025, the initiative will provide essential tools such as wills and powers of attorney across 20 library branches. The program emphasizes financial equity, particularly for the Black community, and includes free assistance from legal professionals. Residents can register via Eventbrite and participate in a broader strategy to tackle financial literacy and the racial wealth gap in Detroit.
Detroit is set to launch a series of free estate planning workshops aimed at helping residents protect their assets and preserve generational wealth. The initiative, titled “Life and Legacy,” is a collaborative effort between the City of Detroit, the Elder Law & Advocacy Center, and the Detroit Public Library. The workshops will begin in spring 2025, with sessions scheduled across 20 library branches throughout the city during the summer months.
The “Life and Legacy” workshops will equip participants with essential estate planning tools, including wills, powers of attorney, and Ladybird deeds. This program is designed to prevent families from falling into legal complications regarding the transition of property and assets. Notably, Scott Benson, a Council Member of District 3 and Chair of the City’s Wealth Generation Task Force, leads this initiative, addressing a critical gap in estate planning prevalent among Detroit families, particularly within the Black community, that hampers wealth retention and accumulation.
In addition to education, the workshops will offer attendees the opportunity to work directly with legal professionals who will assist them in drafting and executing essential estate planning documents at no cost. This aspect of the program illustrates the city’s commitment to promoting financial equity and stability among its residents.
According to Margaret Bruni, the Director of Public Services at the Detroit Public Library, estate planning serves as a vital resource that can provide necessary clarity and comfort to families during challenging times. Participants are strongly encouraged to register for the workshops, which are open to the public. The detailed schedule of workshops, which will run from May to August 2025, includes specific dates and times at various library locations.
The “Life and Legacy” series is not the only initiative addressing financial literacy and stability in Detroit. The Detroit Public Library also offers various financial education resources, including books, digital databases, and workshops covering topics like budgeting, investing, and retirement planning. These efforts are part of a broader strategy to tackle the enduring racial wealth gap in the city and foster long-term economic equity.
Residents interested in attending the workshops can sign up through Eventbrite. Additionally, the city is working in collaboration with various organizations to provide programs aimed at helping residents maintain their properties and preserve equity in intergenerational homes. Currently, there are approximately 5,500 intergenerational properties in Detroit, with an estimated total worth exceeding $268 million and unclear ownership issues. These properties often face complications due to heirs’ property situations or tangled titles that lack legal documentation, obstructing the transfer of family wealth.
The city is utilizing $668,000 in American Rescue Plan funds to assist over 3,000 households with legal advice and estate planning services. Separate from this initiative, the Gilbert Family Foundation is investing $1.5 million over two years to support families struggling with tax foreclosure linked to heirs’ properties.
To qualify for the city’s estate planning program, residents must own a home in Detroit and earn up to 300% of the federal poverty level. Additional eligibility criteria apply for the Gilbert Family Foundation’s program tailored for homeowners at risk of losing their properties due to tax foreclosure. Furthermore, the Detroit Housing Network, a coalition of housing service providers, is collaborating to assist residents in safeguarding their homes and maintaining ownership.
Overall, the “Life and Legacy” workshops represent a significant step toward empowering Detroit residents with the knowledge and tools necessary to secure their financial futures and preserve their family legacies.
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Additional Resources
- Detroit Free Press: Free Estate Planning Legal Services
- Bridge Detroit: New Program for Families with Tangled Titles
- GlobeNewswire: Federal Home Loan Bank Initiative
- OpenPR: SSR Law Offices on Elder Law
- Wikipedia: Estate Planning
