What Happens If You Die Having No Will

What Happens If You Die Having No Will

      1.         Without a Will, you have no designated personal representative. The Probate Court will appoint someone to administer your estate. That someone may not be anyone you might have chosen.  

      2.         If you die with no Will, certain assets should go directly to co-owners or beneficiaries. Examples: life insurance, retirement accounts, joint bank accounts, jointly-owned securities. Also: real estate, cars, boats, RV’s, and motorcycles.

      3.         With no Will, your property will be distributed according to Michigan Law.

      4.         If you have a surviving spouse and have no surviving children, parents, or grandchildren, your spouse gets the entire estate.

      5.         If there are surviving children, parents, or grandchildren — even if they are not related to the surviving spouse — the spouse will not receive the entire estate. The share your spouse receives will depend on whether the living relatives are children, grandchildren, or parents and the size of the estate.

      6.         If you do not have a surviving spouse, your children inherit your estate in equal portions.

      7.         If there are no surviving children, your surviving grandchildren, siblings, or parents will be entitled to the estate, according to specific provisions in the Michigan statute.

      8.         With no will, folks who are not related to you receive nothing.

      9.         If you have non-profit organizations you care about — such as your own church, schools, or charities — they also will receive nothing.

   10.         If you have no relatives identified by the intestacy law, the State of Michigan will receive all of your estate.

The only way to make certain that your property ends up where you wish is to have both a Will and estate plan. For all your loved ones this is the only way to protect their future financial security. Probate is expensive, time consuming, and lengthy. Limit estate liability by achieving closure ASAP. Write your Will. Choose a Personal Representative. Protect your life’s work. There is no time like the present to write your Will.

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