A thought occurred to me today that I want to discuss. “What happens if you die without a will when you are in a committed relationship?” In Michigan if you die without a will, all of your assets are distributed according to Michigan’s intestate succession laws. Here is what that might mean for you and your family if you die without a will:
- If you have children but no spouse, your children inherit everything equally.
- If you have a spouse and children, your spouse will inherit the first $150,000 of your intestate property, plus 1/2 of the balance. Your children will inherit the remaining balance equally.
- If you have a spouse, no children and your parents are still alive, your spouse will inherit the first $150,000 of your intestate property, plus 3/4 of the balance. Your parents will inherit everything else.
- If you have no spouse or children, your parents automatically inherit your estate.
- If you have no spouse, children, and your parents are deceased, any living siblings, their descendants or distant relatives may inherit your estate.
The bottom line is, that any of these scenarios may not be of your choosing. You were not able to specify who inherited and how much each person would inherit. In the case of parents inheriting,
it could mean they become disqualified from Medicaid. In the case of siblings inheriting, you could be estranged from one of them and not wish to share your estate equally. As always, it is important to consult with a legal professional for guidance on how intestate succession would apply to your situation. The best advice I can give however, is to have a plan in place for your assets including having a last will and testament.
*cite: MCL – Section 700.2102 – Michigan Legislature