Many individuals are often bequeathed assets from loved ones' estates. Though much of the information pertaining to inheritances and other estate aspects is contained in wills, some surviving loved ones may face issues if they do not understand or even hear the contents of those documents. Michigan residents may be interested in one family's predicament currently underway in another state.
You wrote your will. You had all of the documents notarized, spoke with an estate lawyer; everything is in place. A few years pass, maybe ten, maybe twenty. You have a will, what need is there to change it? Well, sometimes, it?s necessary. You may have experienced love, loss, heartbreak, bankruptcy, seizure of goods or property, etc. which all play into what you have written and left in your will. Keeping these things up to date to protect not only you but your family is very important. Let?s explore some scenarios.
This question may be weighing on your mind for a variety of reasons: I don?t have a huge estate, why do I need a will? I don?t have any children so is there a need? I don?t want to give any of my money to my family, so do I need it? Regardless of if any of these questions ring true for you, there is immense value in having a will.