How to write your own Will (and why you shouldn’t)

What You’ll Learn in This EpisodeWhat a Holographic Will IsA handwritten Will, entirely, or mostly, in the testator’s handwriting, signed and datedAllowed in some states, including MichiganOften valid on paper, messy in realityMichigan’s Requirements (for validity)A handwritten Will is valid in Michigan if it:Is datedIs signed by the testatorHas material portions in the testator’s handwritingThat’s the bare minimum, not a guarantee that the document will do what you think.What a Will Actually ControlsNot everything you own is governed by your Will. Some assets bypass probate entirely.Assets controlled by your Will:Individually owned property without a beneficiary designationAssets that bypass your Will:Jointly owned propertyRetirement accounts with beneficiary designationsAssets with payable-on-death instructionsExample: A 401(k) will follow the beneficiary designation, even if your Will says otherwise.If you want a change, update the form. Your Will does not override it.How to Structure a Handwritten Will (in an Emergency)Jill walks through a step-by-step handwritten format, including:Clear declaration of intentDefinition of “Property” to simplify later referencesAppointment of an Executor and successorA single beneficiary and a clear backupA default clause referencing intestacy lawsPlus a final affirmation sentence to prevent challenges to handwriting authenticityWhen Notarizing HelpsNot required in MichiganBut adds credibility and makes it harder to dispute the signatureRequires a notary “block” with specific languageWhy Complexity Is the Enemy of DIY WillsThe episode offers six pitfalls that almost always blow up handwritten Wills:Gifts to minorsAttempting to create a trustGifts to individuals that interfere with eligibility for government benefitsMultiple beneficiariesJoint ownership of sentimental itemsEmotional or poetic languageDIY Wills explode when they try to do too much.If you must write your own, keep it brutally simple.Resources & LinksVisual guide: Probate vs. Non-Probate AssetsSample language for a Michigan handwritten WillEpisode 36: When Transfer-on-Death Deeds Promise to Avoid Probate but Create ChaosEpisode 38: Why You Need (or Don’t Need) a WillEstate Plan Audit — Translate your lawyer-written Will into English and verify whether it does what you think: www.deathreadiness.com/auditConnect with Jill:Website: DeathReadiness.comEmail: [email protected] more about Jill’s servicesSubscribe to the Death Readiness Dispatch!Submit a question for Tuesday TriageDid you enjoy this episode? Share it with someone you care about. This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy. Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents. Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.