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Why it is important that people have wills

Apr 16, 2021 | Estate Planning

There are many aspects of life that people in Michigan plan for in case they occur. They have car insurance or homeowner’s insurance in case they are in a car accident or there is damage to their homes. They may also have various products in case they need it for a future project. They plan their schedules for their days, months and years. However, they may fail to plan for one of the few guarantees in life and that is their death.

Dying is something that everyone understands is inevitable, but it is not something people like to think about all the time. They are hoping that death is a long ways off and not something they need to worry about at the time. However, life is unpredictable and people do not know when they will pass away. So, it is important to plan for this and one way people can do this is by drafting a will.

Benefits of a Will

Wills are documents which state one’s wishes for aspects of their life that will continue on after they die. Some of the benefits of having a will are:

  • Distribution of assets – wills allow the person to give specific items of their property to the specific people they want to have it. This includes ensuring people who would normally receive property do not receive anything. Without a will people are left relying on the intestate laws to determine who receives their property.
  • Guardians for minor children – people can state the people they want to raise their children if they pass away.
  • Wills allow people to give gifts or donations to charities or other organizations.
  • Wills can help prevent legal challenges since the wishes are clearly stated.
  • They can reduce the length of probate as people may be able to utilize an informal probate process.

While everyone in Michigan will pass away at some point in time, not everyone has prepared for their death by drafting a will. These are important documents and they need to be drafted correctly to ensure they are enforceable. Experienced attorneys understand how to draft a will and may be able to guide one through the process.