Individuals in Michigan will need an estate administration when they pass on. People leave behind in this estate their assets, debts and desires. In many cases, people have an estate plan that helps those left behind understand how the assets should be distributed. In many cases, it will be up to the remaining family to move through the legal process of distributing these assets and finalizing the estate. This can be a difficult process for individuals if they do not understand the legal technicalities that are at play in the probate process.
Advanced planning can be essential in protecting your assets
Michigan residents may understand the importance of creating documents that protect their assets once they pass away. These documents, such as the person's will, allow the probate court to make determinations on what to do with a person's property once the individual has passed. However, individuals should also recognize that there may be other times when they need to protect their personal property before they pass away.
Certain events should trigger review of a will
Many Michigan residents go to great lengths to create an estate plan. An estate plan can be a comprehensive set of documents that dictate how a person's assets and affairs should be handled following the person's death. While creating an estate plan is a valuable undertaking, it should not be something that is only done once in a person's life. An estate plan needs to be an evolving set of documents that take new life situations into account. In particular, it is important for individuals to review their wills following major life events.
Family of Michigan preacher dispute estate administration
When people create their estate plans, they often hope to benefit the people and organizations that they love. People have the freedom to choose who should benefit from their assets when they pass on. However, individuals can become susceptible to outside influences. When this happens, the family members of the individual may dispute claims made in the person's estate plans.
