People have the ability to control how assets are used. If they want to buy something fun for a family member, they can. If they want to support a loved one, no problem. Contributing to a charity is often easily arranged. However, these simple tasks are not so simple after a person passes away.
Once a person passes, it is possible to still support and give to loved ones if the right estate plan is in place. In a will, a person can distribute property, make gifts and donate to charity. These acts of giving can be subject to certain rules or only go into effect at certain times. With a well drafted will, people can meet all their estate planning goals to ensure that their family and friends are taken care of long after they are gone.
However, in order for this to be possible, a will must be validly and solidly drafted. If a valid will is not created, a court will not uphold its terms. Instead, the probate court will be forced to fall back on Michigan intestacy laws to make distribution decisions.
On the other hand, if the will is not clearly written, a person’s family can spend months — or even years — fighting about the terms of the will. The value of the estate may be lost as people fight about who should get what in probate court. A will needs to be drafted so that it is not only legally enforceable, but so that the terms are easily understood by the court and its beneficiaries.
This is often a difficult task to accomplish. It requires careful planning and drafting by an experienced profession. There is no one-size-fits-all approach. The attorneys at Prince Law Firm understand these complexities. We work with people on an individual basis to come up with the estate plan that works best for them. Our attorneys take the time to ensure that the will and other estate planning documents are validly executed. We also ensure that people understand how they will work once they are gone.
For more information on our firm, and how we can help people draft a will, please see our wills webpage.