10 pieces of advice for people who are considering writing their own will
To save money, many consider drafting their own will, or using self-guided software to do so. However, the potential ramifications of a self-made will can outweigh the upfront savings of consulting an estate planning attorney. It is crucial to recognize that an invalid or ambiguous will can lead to conflicts, unintended asset distributions, and legal complications after someone’s passing.
If you are contemplating drafting your own will in Michigan, be sure to:
- Understand Michigan’s requirements for a document to be considered a valid will, which include:
- Being in writing.
- Signed by the person making the will.
- Witnessed by at least two individuals fit to serve as witnesses.
- Use clear language to avoid misunderstandings and potential conflicts.
- Clearly identify all assets and their designated beneficiaries.
- Designate guardians in your will if you have minor children.
- Appoint an individual to oversee and implement your will’s directives.
- Designate alternatives should your primary choices become unavailable (e.g., if a chosen executor predeceases you or declines the role).
- Update your will regularly and be sure to understand the legal requirements to ensure that your updates are valid.
- Safeguard your will by storing it in a safe location, ensuring any key individuals (like your executor) know its location. We always advise filing the original will with the local probate court.
- Ensure your will does not conflict with any other legal documents.
- Consider seeking legal counsel to guarantee that your will is valid, precise, and comprehensive; thereby preventing future complications and potential disputes.
Hiring an estate planning lawyer to draft your will comes with numerous benefits. First, these lawyers are well-versed in the intricacies and legal requirements of estate planning. They can ensure that your will is valid. Their knowledge reduces the likelihood of mistakes that could invalidate the will or lead to ambiguities. Additionally, they offer valuable advice on appointing suitable executors, trustees, and guardians.
Engaging a lawyer to draft your will ensures its validity, granting you considerable peace of mind. Furthermore, a professionally crafted will can expedite and streamline the probate or estate settlement process.