Legal Question in Wills and Trusts in Michigan

Re: beneficiary change automatic

NOOOOOOOOOOOOOOOOOOOO! (I add emphasis because while I do a lot of estate planning, I also do a lot of probate litigation resulting from situations where the planning has been poor/wrong?misguided/nonexistent, etc.)

Beneficiary designations are not affected by a will. And, if there is no will, your husbands other assets will pass by statute to you and any of his children, which may/may not be what he intends.

So don't put off estate planning. Believe me, it pays for itself.

Best Regards,

Pat

Re: beneficiary change automatic

Beneficiary designations are by contract and therefore if something should happen to your new husband his son would receive whatever he is the beneficiary of; annuity, life insurance, ira, 401k etc... Even if there was no beneficiary and the assets were in his name and there was no will, you would receive the 1st $150,000 and then split the remainder, with you 50% and his kids the remainder. Further, if either of you became sick without proper private authority such as a durable power of attorney etc... you could not make each other's decisions without court/probate involvement. Feel free to call me, check out our web site or contact the office for a folder of information. Just don't procrastinate. Remember Noah built the Ark before the Rains came.

www.brmmlaw.com