Legal Question in Wills and Trusts in Michigan
Wills
I own 640 acres in Michigan. It is divided into 3 parts and is in my name and my wife's name. Our residence is on one partial. I would like to leave 1/2 of the property to my niece and my nephew and the other 1/2 to my wife. Is this legal?
2 Answers from Attorneys
Re: Wills
To answer your question what you want to do is possible, it will require some work by an attorney. If I were assisting you I would want to see copies of the deeds and surveys and your current estate plan. It shouldn't be that difficult to meet your requests. If you would like assistance with this matter do not hesitate to contact our office for a free consultation.
Sincerely,
Geoff Lahn (734) 944-2269
Re: Wills
It is possible, but your wife will have to release her interest in the property, for you to do this. If she is willing, I would suggest that you create a trust, transfer the property to your trust (your wife has to sign that deed), then in your trust document, you can divide it, at your death, as you wish. Doing it in Trust allows you to change your mind, by changing the provisions of the trust.
Currently, the property will pass to your wife by operation of law, at your death.
I do not recommend that you do this by deed--you cannot later change your mind, and you could not sell it without everyone's signatures.
If you desire to go forward, feel free to call my office.
Best Regards,
Pat Prince