As a Michigan estate planning lawyer, I often look to see what other estate planning lawyers across the nation are talking about. Well, I popped over to the South Florida Estate Planning Blog published by David A. Shulman, and he had linked to an article at the Motley Fool. David's South Florida Estate Planning blog is a great read and you should check it out if you haven't.
The Motely Fool article David linked to was about the three "Must Do's" for your estate. Before listing the three "must do's" the article listed some of the reasons people generally want to avoid probate. To quote the article, and this applies to Michigan probate as well, "When the state takes over, your family sits in limbo as your estate lingers in probate -- possibly for years. Your assets are divvied up according to a stranger's prescribed recipe, and your Aunt Ida, the animal shelter, and anyone else you wished to leave your money to may never see one red cent."
To avoid an unhappy estate ending, the article recomends
-Christopher J. Berry, Esq.
Metro Detroit Estate Planning Lawyer
The Motely Fool article David linked to was about the three "Must Do's" for your estate. Before listing the three "must do's" the article listed some of the reasons people generally want to avoid probate. To quote the article, and this applies to Michigan probate as well, "When the state takes over, your family sits in limbo as your estate lingers in probate -- possibly for years. Your assets are divvied up according to a stranger's prescribed recipe, and your Aunt Ida, the animal shelter, and anyone else you wished to leave your money to may never see one red cent."
To avoid an unhappy estate ending, the article recomends
- Find an attorney who is well versed in estate planning. Not your divorce or criminal attorney, but a Michigan estate planning lawyer (if you're in Michigan)
- Stay up to date on tax changes. I would change this to read "have annual reviews with your Michigan estate planning lawyer." There is more than just taxes that you need to worry about.
- Make sure that the right people know where to find your estate planning documents.
-Christopher J. Berry, Esq.
Metro Detroit Estate Planning Lawyer
