The failure to have a will in Michigan is not an absolute disaster, especially when a decedent wanted to have an outright distribution of assets to their children.
Wills have strict requirements
Disposing of property and assets after death must be done following strict legal requirements. To avoid legal disputes, wills must comply with numerous legal requirements. First, rules govern their signature and execution. While these rules may appear unnecessarily formal, any flaw can lead to a will contest or invalidation.
Estate planning goes beyond wills
Charities as heirs
Having a say after death
Estate planning is not restricted to the wealthy. Estate documents, such as wills, are necessary for anyone who wants a say on how their property will be distributed after they die. Families of those who failed to make plans are not completely unprotected, however. Michigan law governs the distribution of property for people who die intestate.
Online estate documents have drawbacks
An online storage system for estate documents may be advantageous for those who are tech-skilled. But, all online accounts should be addressed in estate planning documents or access may be denied or accounts may be destroyed. This can allow lawyers, executors, beneficiaries and relatives to have quick access to wills, medical documents and other information.
Country singer's children may contest will
Celebrities may remain in the news for matters unrelated to their talents and accomplishments long after they die. In an estate case that is instructive for Michigan families, a judge in Tennessee recently ruled that the children of country music singer Glenn Campbell may contest two wills that disinherited them.
Estate planning mistakes may be costly
Many people follow myths and rely on outdated wills for passing on property to their heirs. This can be costly. Estate planning should go beyond the drafting of wills and encompass many documents and health and legal concerns.
Who can be the recipient of a will?
The seeds for probate litigation are sometimes planted with the drafting of wills. The Michigan supreme court recently ruled on the validity of a will and trust prepared by the attorney who was also the recipient of most of his client's estate.
Where there is no will, there may be no way
Having a valid will and ensuring access to important estate and financial documents is an important part of estate planning. When this does not occur, surviving heirs face numerous obstacles. But, there are ways to climb out of this estate hole if parents or family members do not have a will or provide this access.
