Michigan estate planning: Is having just a will sufficient?

If you are not sure where to start when it comes to estate planning, you are not alone. A lot of people in Michigan and elsewhere are not sure where to begin or what they really even need to make sure they, their assets and their heirs are fully protected. Wills are an important part of estate planning, as they offer a lot of the protections you will likely desire for your loved one's, but there are also various other documents that may benefit your specific situation.

A will, for many, is the foundation of a great estate plan. This is where you will name your beneficiaries, give instructions on asset distribution and document your final wishes. You can also provide information about how you want things taken care of in the event you become incapacitated.

A lot of information can be found in a will, so why would you need anything more? Wills do provide a lot of legal protections, but they may not cover everything. To learn more about wills, what they do and do not cover and why having a more in-depth estate plan is in your best interests, please visit our firm's website.

For some Michigan residents, having just a will may be sufficient for their needs. There are others, though, who would benefit from a more in-depth estate plan. An experienced estate planning attorney can help you review your current needs and goals and assist you in drafting a plan that truly does offer all of the protections you require.