Free Guide · Estate Planning
Estate Planning Checklist for Michigan Families
The 6 documents, 5 beneficiary audits, and probate avoidance steps every Michigan estate needs
Most Michigan families have an outdated will, no trust, and a 401(k) beneficiary they haven't checked in 15 years. Estate plans fail more often from a missing beneficiary form than a missing will. This checklist closes the gaps before they become expensive mistakes.
What's inside (8 pages)
- The 6 documents every complete estate plan needs
- Beneficiary audit across 8 account types
- Michigan probate avoidance steps
- Will vs trust decision rule for Michigan homeowners
- The federal estate tax exemption, and who it actually touches
- The one family meeting agenda that prevents future disputes
Who it's for
Michigan homeowners, families with minor children, anyone who hasn't reviewed their estate plan in 5+ years, and households near the federal estate tax exemption.
What you'll learn
Six documents, and a gap wherever one is missing
A will names your executor and who gets what. A revocable living trust skips probate and manages assets if you become incapacitated. A durable power of attorney handles money. A healthcare power of attorney makes medical decisions. A living will states your end of life wishes. A HIPAA release lets your people see your records. Most families have two or three of the six.
The beneficiary form beats the will
Life insurance, 401(k)s, IRAs, annuities, bank and brokerage accounts with payable on death designations, HSAs, and 529 plans all pass by the form on file, not by your will. If an ex spouse is still on a 401(k), the ex inherits. Audit every one of them once a year, primary and contingent.
Skip probate on purpose
Michigan probate takes three to seven percent of an estate over twelve to eighteen months. Deed the house into the trust. Add payable on death and transfer on death to bank and brokerage accounts. Keep retirement beneficiaries current, since those skip probate on their own. Title vehicles with transfer on death where Michigan allows it.
Will or trust: the Michigan homeowner rule
A small estate with no minor children may get by on a will. Own a Michigan home and you want a revocable trust with a pour over will behind it. Minor children make the trust essential, because it manages their inheritance until they are adults. Blended families, a business, or a child with special needs call for specialized trusts, not a template.
The federal estate tax, and who it actually touches
The federal exemption is fifteen million dollars per person from 2026, indexed after that, and Michigan has no estate tax of its own. For most families the tax is not the risk; the missing beneficiary form and the probate bill are. Households near the exemption should talk to an estate attorney about lifetime gifting, spousal trusts, and life insurance trusts.
One family meeting, one agenda
Where the original documents are. Who the executor, trustee, agent, and healthcare proxy are. Where the accounts and policies live. Who the attorney and CPA are. Funeral wishes. Personal items not in the will. One meeting, once, prevents most of the disputes that follow a death.
Common questions
What is the most common estate planning mistake?
An outdated beneficiary form. It overrides the will, and most people have not checked theirs in years. A missing form on a retirement account does more damage than a missing will.
Do I need a trust in Michigan if I own a home?
Usually yes. Without one the house goes through probate, which costs a percentage of the estate and takes a year or more. A revocable trust with a pour over will avoids that.
Does Michigan have an estate tax?
No. Michigan has no estate or inheritance tax. The federal estate tax applies only above the federal exemption, which is fifteen million dollars per person from 2026.
What should I bring to an estate plan review?
Your current will and trust if you have them, every beneficiary form you can find, and a list of accounts and policies. That is enough to map the gaps.
Educational content only. Not financial, tax, or legal advice. Always consult a licensed professional before acting on the information in this guide.