Did you know that approximately 70% of Americans have no Will? Without a Will, there are some disadvantages:
1. The State has made a Will for you and you will not like what it says.
2. Most people think their spouse will automatically inherit everything. Not true.
3. The courts, not your family, are in control. Your money and your property (estate) are distributed according to inflexible state laws, not your desires.
4. If you are married and you and your spouse die together, you have no say about who will raise your minor children. The courts will decide and may appoint someone as guardian whose values and lifestyle are different from yours.
5. The courts can choose a stranger or someone whom you would not want to serve to handle the settlement of your estate, and it may be expensive.
6. You will not have the opportunity to leave a charitable bequest to your favorite charities.
7. If you have minor children, money can be tied up in the courts that may be needed for their care.
8. When each child reaches the age of majority (age 18 in some states), he or she receives their inheritance all at once in a lump sum.
There's a lot of things to consider as you start creating your estate plan and it can be overwhelming. Do not despair! There are a lot of resources available to help get you started or fine-tune what you have in place. For more information, call the McLaren Flint Foundation office at (810) 342-4087 or email us at
mclarenfoundation@mclaren.org.