Oakland County MI Estate Planning Law Blog

There are very specific requirements in place to make a will valid in the state of Michigan. For example, two people must be present to witness the signing of the will. If only one person is a witness, then the court may have a valid reason to throw the document out. 

You have worked hard to craft your last will and testament, as well as other documents for after you pass away. You want to make sure everything is perfect, so there is no confusion about what your wishes were. Making even one mistake is enough to invalidate a will, and this creates a lot of confusion and heartache for your loved ones. Here are a few of the factors that make a court invalidate a will, in addition to not having enough witnesses. 

A lifetime of success and earnings may not be enjoyed by heirs if wills, trusts and other important estate documents are not properly drafted and there was other poor planning. Effective estate planning can avoid mistakes and provide for the effective distribution of assets and property to heirs.

A person's business should be included in the estate plan. This is especially important if some children work in the family business and others do not. Inadequate planning can lead to the sale of the business to cover estate taxes at a loss. However, purchasing life insurance and equalizing distribution to siblings who do not work at the business can help avoid financial losses.

If you are the adult child of elderly parents, you may be thinking about helping your parents with their long-term planning. Estate planning is not a topic just for the wealthy; everyone can benefit from advance planning about how to manage their assets after they pass away.

One factor that often comes into play in cases of estate planning, and especially power of attorney, is that of lack of capacity. If you help your parents with their estate planning, or if you are thinking about how to begin the conversation, lack of capacity is one factor you need to take into consideration.

Long-term care should be addressed well before it is needed. While it may be a difficult issue for many families, long-term planning may present an additional obstacle to the LGBTQ community that needs addressed.

While not recommended, many people do not plan for this care until its too late. Their children then must assume responsibility for making these decisions. However, some LGBTQ individuals do not have this option because they do not have children.