Legal News Alert #110

Why Have a Will?

An old adage states that there are only two things in life that are certain -- death and taxes. Now that you are in the process of taking care of one certainty, taxes, this may be an opportune time to take care of the other certainty by making a testamentary will. Everyone should have a testamentary will and here are some reasons why.

Guardian of Your Minor Children

Although it is a remote possibility that both parents of minor children will die simultaneously or within a very short time of one another, unfortunately this does happen. And if you and your spouse do not have a will which names who you want to be the guardian of your children and, perhaps more importantly, who you don't want to be the guardian, a probate court judge will have to make the decision without any input from you. In addition, these types of court proceedings are usually very litigious, very expensive and the attorney fees and costs are often paid from your estate!

All Estate Assets May Go Only to One Side of Your Family

If you have no surviving children, grandchildren or great grandchildren and you and your spouse die under circumstances such that you die instantly and your spouse survives you by an hour or two (e.g. an automobile accident), then because you and your spouse did not have a will which deals with this near simultaneous death situation, all of the jointly held assets in your estate will go exclusively to your spouse's blood relatives because he or she survived you and your blood relatives will receive nothing.

All Assets May Go to Your 18 Year Old Child

Do you really want your child to gain control of all of the assets in your estate the moment that he or she turns 18 years old? Probably not. With a will, you can have your assets managed by a trustee for the benefit of your child until he or she becomes 25 or 30 or 35.

Avoid Family Conflicts

By leaving specific instructions on what to do with your remains and what to do with personal possessions such as jewelry and family heirlooms, you can avoid many post-death family squabbles which can poison relationships for years.

Reduced Rate for Wills, Living Wills and Powers of Attorney

The attorneys at Nichols & Eberth, P.C. are very experienced in helping our clients draft testamentary wills, living wills, powers of attorney upon disability and other estate planning documents. And if you tell us that you came to us because of this Legal News Alert, we will discount our usual hourly rate.

NICHOLS & EBERTH, P.C.
22374 Garrison, Dearborn, MI 48124

Free Initial Consultation

Call Dearborn office at (313) 561-5700 or
Call Birmingham, Northville, Troy office at (248) 952-1700 or
Call us toll free at 888-571-5700 or
Send us an email at email@michiganattorney.com