12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

What is a Last Will and Testament in Clarkston, MI

What is a Last Will and Testament in Clarkston, MI

A Last Will and Testament is the first building block of a good estate plan. Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death.

Option 1: Will-Based Estate Plan

All essential details of your Last Will and Testament will be outlined in the will-based estate plan. It will provide information including the person to be put in charge of settling your final affairs (the executor), the persons who will inherit your property (beneficiaries), and the provisions on how they will inherit it. Your last will and testament with a will-based estate plan will cover the following:

1. Who will serve as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will inherit your property

4. How and when your property will ultimately be transferred to your beneficiaries

5. Who will serve as guardian of your minor children until they become adults


Option 2: Trust-Based Estate Plan

In the trust-based estate plan a document called a revocable Living Trust will cover all the important points listed above in the will-based estate plan with one exception: the person in charge of settling your final affairs after you die is called an administrative or successor trustee instead of an executor. If you have a revocable living trust you will still need a Last Will and Testament so. Ideally, you will fund or move your assets into your trust before you die. If you fail to fund even one asset into your trust, then the last will and testament will be the necessary document that will "catch" the unfunded property and transfer it to your trust after you die. The last will and testament in this case will function as a pour over will that will cause the unfunded assets to "pour over" into your trust through a probate process.


A pour over will needs to cover:

1. Who will be in charge of your assets that were not funded into your trust as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will serve as guardian of your minor children until they become adults

4. What will happen in the absence of a Last Will and Testament?


In order for your property to go to the beneficiary of your choice after you are gone, a Last Will and Testament is recommended.


The absence of a will could result in the state providing a last will and testament on your behalf under the state's intestacy law. The laws of the state that your property is located in will prevail. This can get complicated if you own property in multiple states.

 
Personalize & Print a Free MI Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Clarkston, MI
Okros Family Law PLLC
20 W Washington St
Clarkston, MI 48346
(248) 620-9100
Divorce Attorneys,  Attorneys,  Family Law Attorneys,  Domestic Violence Attorneys,  Child Custody A
The Ticket Team
5770 S Main St
Clarkston, MI 48346
(888) 679-8326
Traffic Law Attorneys
Gaskell Jon M
20 W Washington St # 11
Clarkston, MI 48346
(248) 625-8010
Attorneys, Legal Service Plans
Welter Jay F
6140 Dixie Hwy
Clarkston, MI 48346
(248) 623-7477
Attorneys, General Practice Attorneys
Cunningham Laurie K
21 S Main St
Clarkston, MI 48346
(248) 620-7300
Divorce Attorneys, Attorneys, Legal Service Plans
Allen Nikola
6751 Dixie Hwy
Clarkston, MI 48346
(248) 241-6801
Accountants-Certified Public, Attorneys, General Practice Attorneys, Business Coaches & Consultants
Henry S. Woloson Attorney & Counselor at Law
7608 Dixie Hwy
Clarkston, MI 48346
(248) 625-6736
Attorneys
David R Shook Atty
6480 Citation Dr
Clarkston, MI 48346
(248) 625-6600
Bankruptcy Law Attorneys,  Attorneys,  Business Bankruptcy Law Attorneys,  General Practice Attorney
Bullard Law Firm Plc
6100 Dixie Hwy Ste B
Clarkston, MI 48346
(248) 241-6493
General Practice Attorneys, Attorneys, Legal Service Plans
Kozma Larence
20 W Washington St
Clarkston, MI 48346
(248) 620-6000
Traffic Law Attorneys, Attorneys, Criminal Law Attorneys, DUI & DWI Attorneys
Kozma Larence
20 W Washington St # 11
Clarkston, MI 48346
(248) 620-6000
Attorneys, Criminal Law Attorneys, General Practice Attorneys, DUI & DWI Attorneys, Traffic Law Atto
Simons Laura L
6696 Dixie Hwy Ste 4
Clarkston, MI 48346
(248) 625-5906
Attorneys, Legal Service Plans
Kimberly A Dtkwcz Law Office
5840 Lorac Dr
Clarkston, MI 48346
(248) 421-5131
General Practice Attorneys, Legal Service Plans, Attorneys
Gardner Sharon A JD, P
5840 Lorac Dr
Clarkston, MI 48346
(248) 620-4949
Divorce Attorneys,  Attorneys,  Family Law Attorneys,  Legal Service Plans
Marks Shaun R
5840 Lorac Dr
Clarkston, MI 48346
(248) 507-4493
Attorneys, DUI & DWI Attorneys, Criminal Law Attorneys
Mulvihill John
20 W Washington St # 2
Clarkston, MI 48346
(248) 625-3131
Attorneys
Kacy Dennis Attorney
21 S Main St
Clarkston, MI 48346
(248) 625-2916
General Practice Attorneys, Attorneys
Brad Stout Law
6401 Citation Dr
Clarkston, MI 48346
(248) 620-2233
Attorneys, Family Law Attorneys, General Practice Attorneys, Legal Service Plans
Harry & McMillen P
5840 Lorac Dr
Clarkston, MI 48346
(248) 620-1300
Criminal Law Attorneys, Attorneys, Family Law Attorneys, Real Estate Attorneys, General Practice Att
Harry & McMillen
5840 Lorac Dr
Clarkston, MI 48346
(248) 620-1300
Criminal Law Attorneys,  Attorneys,  Family Law Attorneys,  Real Estate Attorneys,  General Practice
Matthew Wigent P
39 S Main St
Clarkston, MI 48346
(248) 625-1212
Kostin Robert E
11 N Main St # A
Clarkston, MI 48346
(248) 620-1030
General Practice Attorneys, Attorneys, Legal Service Plans
J Kim Welch
7300 Dixie Hwy Ste 400
Clarkston, MI 48346
(248) 922-0944
Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  DUI & DWI Attorneys,  Bankruptcy
Clarkston Law Center
7300 Dixie Hwy
Clarkston, MI 48346
(248) 922-0944
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US