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To have a Michigan statutory will, you must complete the blanks on the will form. You may do this yourself, or direct someone to do it for you. You must either sign the will or direct someone else to sign it in your name and in your presence.
The Cons. While there are many benefits to putting your home in a trust, there are also a few disadvantages. For one, establishing a trust is time-consuming and can be expensive. The person establishing the trust must file additional legal paperwork and pay corresponding legal fees.
Per Stirpes Beneficiary Designation Per stirpes is a Latin phrase that translates literally to by roots or by branch. In the estate context, a per stirpes distribution means that a beneficiarys share passes to their lineal descendants if the beneficiary dies before the inheritance vests.
A trust is a way of managing your assets, in this case property, by transferring them to another person, either a child or family member. Although technically the property will no longer be in your name, you will still have some control over how the property is used.
A pour-over will only goes through probate if you have failed to attach all your assets to your living trust. The probate process with a pour-over will is much shorter than probate with a traditional will.
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You cant use per stirpes with any other class of beneficiariesnot children, nor brothers and sistersonly descendants.
The trustee needs to decide how to sell the home, whatever way that is, whether its through an estate agent, auction or sell house fast company such as ourselves, theyll want to see the documents to confirm this. Youll need to provide proof to the title company that the trust is valid.
With a per stirpes designation, any amount that you leave for a beneficiary that predeceases you will be passed down evenly to his or her own heirs, usually children. Per stirpes generally refers to every person lower down in a family tree, so spouses are generally excluded.
In order to be valid under Minnesota law, a Will generally must: be in writing; signed by the testator (the person describing how they want their property distributed); and. signed by at least two witnesses over the age of 18.
With a pour-over will, any assets not included in your trust are automatically transferred to your trust after you pass away. Think of it as a kind of safety net, capturing any property you didnt transfer to your trust while you were alive.

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