Regardless of the size of an estate or anyone’s age, having a will drafted is a smart and vital part of being an adult. Many people put off the process of creating a will out of fear or trepidation of thinking about the inevitable. However, every adult in Michigan should understand the benefits of having a will in place long before that will is ever needed.
Most people know a will states who will receive certain assets from your estate, but a will also designates guardians for minor children. This is not a decision most people want left up to anyone else. Without a will in place, the probate stage of processing an estate can impact where minor children end up and how they will be cared for. Not having a will in place to explicitly decide these matters also increases the likelihood of family disputes, even further lengthening the probate stage.
It should also be understood that drafting a will is not a once-then-done type of legal matter. You may feel certain about who you want to receive what assets and even who will get guardianship of children, but that can change over time. Major life events, such as divorce or the birth of additional children, necessitates the review of a will on a regular basis.
Having a comprehensive will in place is essential for anyone and can decrease the chance of family strife. A skilled legal representative can take a look at your individual situation and ensure each matter that pertains to your estate is addressed and your wishes are clear. Our website has more information about the importance of a will and why Michigan residents of all backgrounds should have a will drafted sooner rather than later.