There are many reasons that people in Michigan decide not to draft wills. Perhaps they think they do not have enough money or assets to make it worthwhile. Instead, they tell family members of their intentions (for example, Joe gets the wooden toys, and Helen gets the dolls). Or maybe they have taken a look at the state’s laws for intestacy succession, and these laws more or less line up with what their will would say anyway.
However, if you do not create a will, it can lead to dire consequences. Even the simplest of wills can avoid outcomes such as these listed below.
Emotional tugs of war
People do not always know what they want. After you die, there can be an urgent need to have sentimental objects. What happens, though, if two family members (or five!) want the same object? Fighting over something has been known to irreparably damage ties among family members.
Inheritances that do damage
Suppose your heirs, according to state law, would be your children. Problem is, they have a habit of spending freely. In fact, you do not expect the money you leave them to last long, and it could end up damaging them, perhaps fueling risky addictions or behaviors. However, if you take the time to create a simple will, you can, in the same visit to your attorney’s office, create a trust that distributes the inheritance over time.
When you do not have a will, someone could attempt to forge one. It could be that a cousin you have not spoken to in years shows up out of the blue claiming that he or she knows where your will is. Coincidentally, the cousin also benefits greatly from the will. When you make a legal document and take other estate planning steps, you ensure that your assets go to the people you want them to be with.