If you have no assets, do you need a will?

It is common knowledge that a will is a great way to plan for what happens with your assets after you die in Michigan.  A will lets others know your intentions and wishes. It can clear up misunderstandings and assist the state when trying to tie up your estate. However, if you do not have any assets to speak of, do you really need a will?

 According to MarketWatch, almost everyone needs to have a will. Even if you have no considerable assets, a will can still be helpful to those left behind. You probably have a bank account of some kind. That is enough to qualify you to need a will. So, even something small and simple makes a will a beneficial document.

 If you have children or even pets, a will is also handy. This document can allow you to ensure that your children or pets receive proper care after your death. It also allows you to set up plans for payment for care or to assign guardians.

 If you do not have a will, any loose ends will be at the mercy of the court. The court may not make decisions that you would agree with. It has to follow the law in its decisions. In the meantime, while your case is in the court, everything is in limbo. For children or pets, this could be a very bad thing. Even with your finances, a delay like this could spell trouble and leave those you left behind with money issues.

 The bottom line is that everyone should have a will. It is the best way to make sure your life is left tidy after you die. This information is for education and is not legal advice.