Share

Michigan Elder Law Today

Wednesday, May 16, 2018

Making Sure Your Estate Plan Reflects Your Wishes

Jack and Doris wanted to divide their property equally between their three children. The house should to go to daughter Mary who loved it, and the rest of their estate should be apportioned equally between sons Bob and Frank.

Jack and Doris’s attorney drafted a will distributing the modest remainder to the sons and the attorney filed a ladybird deed leaving the house to Mary. In the right circumstances, a ladybird deed can be a useful and efficient way to leave real estate to heirs without going through expensive and protracted probate proceedings.

Years passed. Jack died and, late in life, Doris was diagnosed with cancer. She had forgotten about the earlier plan. She wrote out a will leaving her property equally to her three children.

After Doris died, the children were unhappy to discover a conflict between the old deed and the new handwritten will. The will was legally binding but, because deeds can take precedence, Mary ended up getting more than her parents had intended. She got the house through the ladybird deed and then an additional one-third of the remaining property through the will. This was not what Jack and Doris had wanted and the inequity strained the relationship between the children.

Remember: Your estate plan is not a time capsule, preserving relics for future discovery. Be sure to talk to an attorney to update your plan in the event of illness or change in circumstances. Please feel free to contact us – we would be happy to help.


Archived Posts

2018
2017
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
January
2013
2012
2011
December
November
August
July
June
May
April
March
February


Estate Planning & Elder Law News

Elder Law, Estate Planning, and Probate attorney Andrew Byers helps people in Troy, MI and throughout Oakland County, MI including Royal Oak, Clawson, Berkley, Huntington Woods, Rochester Hills, as well as throughout the metro Detroit area, including Macomb County and Wayne County, Michigan.



© 2018 Andrew Byers, PLC | Legal Advisory
2833 Crooks Road, Suite 104, Troy, MI 48084
| Phone: 248.469.4261

Elder Law | Estate Planning | Probate & Estate Administration | | About Us | Articles

Attorney Website Design by
Amicus Creative


© Andrew Byers, PLC | Disclaimer | Law Firm Website Design by Zola Creative
2833 Crooks Road, Suite 104, Troy, MI 48084 | Phone: 248.469.4261