In some instances, when one doesn't know what to do, doing nothing is the appropriate choice. Rather than make a wrong decision, the Michigan resident chooses to make no decision. However, when it comes to estate planning, this decision to not make a decision can be costly.
In many cases, these individuals do not have a spouse or children; therefore, there are no apparent heirs. Thus, the estate planning decisions regarding who should handle their estates and who should inherit their assets can be difficult ones to make. Yet, if the individual dies without a will, it will be necessary for the courts to step in and transfer assets per state guidelines. In addition to the costs involved with this process, it is possible that assets may be inherited by those the individual did not wish them to go to. If the individual does not wish to leave assets to estranged relatives, other options -- including charitable organizations -- are possible with a will.