If something happens to you tomorrow, will your children be in good hands? Estate planning may sound like a lot of work, but more than anything, it is an act of love and responsibility. It is about protecting your children’s future, ensuring their best interests long after you are gone.
What happens without a will?
In Michigan, if a parent dies without a valid will, they are considered to have died intestate. In such a case, the court oversees the estate, including important decisions about any minor children left behind.
This means the court, not the parent, will determine who becomes the child’s legal guardian. This could disrupt the child’s established life as court-appointed guardians may not have the same parenting style, religious beliefs or chosen educational path for your children.
Furthermore, assets will be distributed according to state intestacy laws, which dictate specific amounts, percentages and fixed formulas for inheritance. This means that, beyond the emotional toll, the legal consequences of dying intestate are costly and time-consuming. Your loved ones must navigate a complex process during an already painful time.
How estate planning protects your children
A well-drafted will allows you to:
- Name a guardian: Ensure the right person raises and makes important decisions for your minor children
- Appoint a trustee: Choose someone you trust to manage your children’s inheritance
- Manage when your children receive assets: Prevent large sums from being handed to an 18-year-old who may not be ready
- Minimize delays and confusion: Help ease the process during a difficult time
- Prevent family disputes: Provide clear direction to avoid conflicts
- Plan for special needs: Set up trusts that protect your child’s benefits and future care
Estate planning gives you peace of mind knowing your children are cared for in the way you believe is best.
Start planning today to secure tomorrow
A thoughtfully crafted will is one of the most important things you can leave your family. An estate planning attorney can tailor your plan to your needs, help you avoid legal pitfalls and ensure your wishes are honored. Through clear and careful planning, you can protect your loved ones and give them the security they need.