Do I Really Need a Will if I Am Single?
December 22nd, 2017
Whether you are single, married, young, or old, estate planning is a necessity. You may not need an extensive or complex estate plan, but at the very least, you need to have a will and power of attorney in place. There also are other circumstances in your life that might require you to have other legal documents in place.
For instance, if you are a single parent, you really need to have a plan in place for the care of your children should something unexpected happen to you. Additionally, if you have assets that you want passed on to your children, whoever has custody of the children likely also will have control over any assets belonging to the children. This means that if your children’s other parent is willing and able to care for your children, then he or she likely to take custody of the children in your absence. However, he or she also is likely to have control over any assets that you leave to your children, which may be exactly what you don’t want. Given the importance of issues related to your children, you need to have an estate planning attorney evaluate your situation and make sure that you have all of the necessary documents in place to carry out your wishes.
Furthermore, if you don’t have a will, and you don’t have children, Michigan law will determine what to do with your assets following your death. Depending on your situation, your assets could pass to your parents or your siblings. If you don’t have a good relationship with your brother, then you probably don’t want him to inherit the assets that you have worked so hard for all of your life. If you don’t have a will in place, then your brother is a potential heir to all of your property.
A will is the starting point for a comprehensive estate plan that is designed to carry out all of your intentions. The estate attorneys of Legacy Law Center pride themselves on successfully guiding clients through the estate planning process, as well through probate proceedings, if necessary. We have the knowledge and resources to help you make the decisions that are best for you and your family. Don’t hesitate to call our Ann Arbor office today and learn how we can assist you.