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While it is important that you have created a will, living trust, or even a living will as you never know when a tragedy can strike, it is important to acknowledge the various components that must be included in your will. While state laws prohibit certain things and allow others, it makes for the estate planning process to become confusing and even overwhelming. But, even if you have already created your will or are looking to begin drafting one, you may want to consult with a trust and estate attorney first before putting it away and not having it checked for legitimacy.
You see, certain things occur in our lives and while you may not think it will play a role in how your assets are handed down after you die, many families unfortunately suffer the repercussions of having a will that was not rightfully written up or didn’t conform to state laws. Some examples of what could make your estate plan a bit complex include:
And based on how state laws work, majority of the time, your estate is going to be probated based on the terms of your will and the division of your wealth will begin. But what if you don’t want the world to be made aware of all that you owned and how it is going to be passed down? Perhaps you have creditors in search of their unpaid debts and you don’t want them coming after your loved one’s for money they inherited from you.
So, to better be prepared for any of the unexpected and assure your will is legal and setup in the manner you wish, it is wise and highly encouraged for you to speak with a Michigan will and trust lawyer first before committing to the terms of your will.
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