
Six Ways to Mess Up Your Estate Plan
We all make decisions during our life with good intentions. Simply put, some of these decisions can result in messing things up. Most estate planning lawyers have stories of clients doing their own documents and then their families come in later after their death surprised why the documents do not do under Michigan law what the parents read on Google. Google is great, but you would not go to Google to find instructions on how to remove your appendix and proceed to do so. That is not to equate estate planning with appendix surgery, but the laws have grown more complex in that what decision you make can change something else unintended (income taxes, disability, property taxes, multi-State property ownership or divorce).
In general, here are six easy ways to see how estate plans get messed up:
*Write a new Will or Trust but do not destroy old ones.
* Rent a safe deposit box to store estate planning documents that no one else can access.
* Create a Will or Trust but do not tell your Personal Representative or Successor Trustee where the original documents are located.
* Cross out phrases or write notes on the estate planning documents creating questions about where you meant to amend or revoke them.
* Do not review your documents and update, if necessary, on a regular basis.
* Trust others to do the “right thing”.
Most estate plans are not costly and even if they are, most attorneys will accept payments over time, or they take credit cards. If our offices in Saginaw or Frankenmuth can assist you with estate planning, please
consider us in your options.