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.
When a person leaves assets to his or her family members, there is always the chance that one or more of the family members may disagree with the distribution of the assets or feel slighted in some way. A dispute over a large inheritance has recently made the news as it has pitted a mother against her own son and stepson. Michigan families who are deciding the fate of assets and funds may want to follow the story as it unfolds.
Whenever a family passes, that family member's last will and wishes expressed may come as a surprise to some. However, those typically close to the person may already be aware of the declarations and wishes that are part of a will. When a Michigan family feels that a will does not seem to go along with what that family believes the person would have wanted, the family may have grounds to successfully contest the will. The family of baseball great Ernie Banks has made it clear they plan to dispute the will said to be left behind by Banks.
When it comes to leaving assets to beneficiaries, the process can be difficult for families if there are estranged children or strained family relations to be considered. For Michigan families, there are creative solutions for dealing with how to leave an inheritance to estranged children. While leaving that person out of the estate plan is always an option, there are times when that can make the process more complicated rather than simpler.