Episode Details

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)

Purchase The Death Readiness Playbook: https://www.deathreadiness.com/playbook

Connect with Jill:

• Website: DeathReadiness.com
• Email: jill@deathreadiness.com
• Learn more about Jill’s solutions
• Subscribe to the Death Readiness Dispatch!
• Submit a question for Tuesday Triage

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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.