Why Selling the Lake House Can Rewrite Your Will
A listener in Michigan asks what happens when her Will leaves a lake house that she sold years ago. Jill breaks down how Michigan law treats the sale of specifically gifted property, why the gift doesn’t disappear the way it would under traditional ademption rules, and how that one missing update can unintentionally shift millions of dollars and destroy family relationships.
What You’ll Learn in This Episode
What “ademption” means and why it wipes out gifts in many states
Why Michigan law doesn’t automatically cancel a sold asset gift
How Michigan converts a sold house into a cash inheritance
The dangerous ambiguity around what “value” really means
How market swings can drastically change what one child receives
Why buying a “replacement” property can trigger litigation
Resources & Links
Michigan Estates & Protected Individuals Code, Section 700.2606 (Specific devises; nonademption rules)
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Website: DeathReadiness.com
Email: jill@deathreadiness.com
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