Will: An estate planning document
Updated: Dec 17, 2019
The Will is the most well-known estate planning document. A Will can be as simple as a standardized form or as complex as a Trust. Regardless, everyone should have a Will.
Your Will should identify yourself, your spouse and your children. This is important because assets owned just by you must be distributed through your Will. Michigan law requires your Will be probated in Probate Court. The first question the Judge wants to know is whether your spouse or child survived you.
Personal Representative (Executor)
Your Will must designate a person to distribute your assets. This person will inform the court and your heirs of your property, and follow your instructions. A spouse or adult child are common choices.
Disposition of Property
Your Will should indicate how your Executor is to distribute your property. What people receive what property is probably the most important thing in your mind. That's why it is important that your Will be properly drafted so their is no confusion as to who-gets-what.