Death – it is not something that anyone wishes to contemplate. However, it will eventually happen to everyone. It seems that wills, like death, are issues that people delay dealing with in Michigan. In reality, crafting a will can bring peace of mind.
Many people delay writing a will, but then they pass unexpectedly without having left instructions on what should be done with their belongings, finances, real estate and so forth. In the event of a large estate, this can lead to very complex legal issues. When Prince died suddenly, he did not have a will. The family may still be settling the very complex estate.
A will does not just designate who will get one’s belongings, it can also have tax ramifications, aid in handling end of life medical issues and other concerns. When there are minor children involved, a will can designate who will be responsible for the care of the minor children. This alone can bring great peace of mind and make creating wills a priority for most people who have children. However, fewer than 50% of Americans have existing wills.
Wills should exist for everyone. Regardless of the amount of money, real estate or belongings that a person has, having a will in place simplifies the issue for those left behind. A person who does not yet have a will in Michigan may benefit from seeking out the advice of an attorney experienced in estate planning. An attorney can ensure that all of one’s bases are covered and that all contingencies have been accounted for. While death will still not be pleasant to contemplate, a person will know that he or she has done his or her best to provide clear instructions for any surviving loved ones.
Source: the New York Times, “What It Was Like to Finally Write My Will“, John Schwartz, April 3, 2018