Life can change in unexpected ways at any moment. Michigan residents without estate plans risk leaving their loved ones with tricky legal issues during already tough times.
The courts might distribute your assets in ways you never intended if you pass away without proper documentation. You can avoid these problems by crafting an estate plan sooner rather later.
What happens without an estate plan
Without proper planning, Michigan state laws will likely have the final say on what happens to your assets. Keep these elements in mind:
- Intestacy laws: Michigan courts follow strict guidelines that might not match your wishes about who receives your property.
- Guardianship decisions: The court chooses who raises your children if you don’t formally name guardians in legal documents.
- Probate process: Your family faces a potentially lengthy and expensive court process that could take months or years to complete.
- Medical decisions: Someone you wouldn’t choose might make critical healthcare choices if you become incapacitated.
Your family deserves protection from these risks, especially during periods of grief after losing someone they love.
When to create your estate plan
Certain life events should trigger immediate estate planning action to protect yourself and your loved ones. You should create or update your estate plan when you:
- Get married or divorced
- Welcome a child into your family
- Purchase significant property
- Start a business
- Receive an inheritance
- Move to Michigan from another state
Estate planning protects more than just wealthy individuals. Everyone owns something of value, whether financial assets, family heirlooms, or digital accounts. Creating basic documents like wills, powers of attorney, and healthcare directives provides essential protection for your family’s future and ensures your wishes remain respected. You can gain peace of mind by getting in touch with a Michigan estate planning attorney who understands state-specific laws and can tailor solutions that suit your needs.