Michigan has an anti-lapse statute. When you understand how these work in conjunction with estate planning, you can ensure your assets go to your intended beneficiaries. Additionally, you could prevent your estate from triggering probate litigation after you pass away. People build estate plans to make things easier for their loved ones. With that in mind, let’s go over the impact an anti-lapse statute can have on your estate and how you can plan for it. 

What is a “Lapse?"

Anti-lapse statutes exist because the person you leave your assets to may pass away before you. Suppose that happened (and there was no anti-lapse statute) the asset returns—or lapses—to the estate. Under specific circumstances, an anti-lapse statute prevents that from happening. The law states that if your beneficiary passes away before you, the asset goes to their children. However, that isn’t always the case...

IN FIRM NEWS...

This month, Adonne R. Washington, Esq. joined the established Hamilton Law team as Special Counsel! Adonne will be assisting our entrepreneurs and small business clients in protecting their Trademarks and assisting with Corporate Branding issues. To learn more about how Adonne can help you, visit her page on our website.