Michigan Probate, Estate & Trust Administration Attorneys
Have you recently lost a loved one and are unsure what needs to be done?
We will help you through the probate process and get you on the road to financial peace after a loved one passes.
What is probate & when is it required?
Probate is the legal process your estate goes through after you pass away.
A judge will verify your estate and then distribute it.
Have you heard that it’s a long, difficult process? Thats because it is.
It typically takes a year for your estate to be processed through court (and your heirs may not like that news one bit). Not to mention all of the extra legal fees attached to probate, which will be taken out of your heir’s inheritance.
When is probate required?
When a person dies and leaves their estate in their name only, even if they had a Will.
Our experienced Michigan probate team helps shoulder this burden so you and your family can focus on healing after a loved one passes.
The Michigan Probate Process in 4 Steps
At its most basic, this is what probate in Michigan looks like:
- Step 1: Open probate
The person you named in your will as executor files your estate with the court. - Step 2: Take inventory of everything (and we mean everything)
Your executor will list everything you own, assets, and debts. - Step 3: Creditors take their share
If you die with debt, this is the time when creditors can come and take their slice of the pie. The executor might have to sell off things to pay off debt and taxes. - Step 4: Distribute the inheritance
If anything is left after probate and debts are taken out, your executor can now give your heirs what is theirs.
There are a lot of issues that come with probate.
Delays can mean family members don’t have access to the funds they may need to pay for funeral expenses. Other issues that can develop include resolving disputes between beneficiaries and haggling with creditors.
But here’s the good news:
You don’t have to do this alone. You can save time and avoid unnecessary conflict. You can make sure your kids get their entire inheritance. You can have peace of mind!
By working with a caring team who will be there with you every step of the way, you can get through probate timely and easily. Contact us at (989) 567-2100 to get started today.
What does a Probate Attorney do?
When you’re grieving, you should be allowed that time to do it peacefully. Having to deal with tedious paperwork, court, and creditors shouldn’t be something you have to face during this time.
A probate attorney helps with this, and also:
- Files petitions to the court
- Communicates with heirs
- Inventories the assets
- Settles debts with creditors
- Pays estate taxes
- Makes a final distribution to heirs
Many clients hire us so we can carry the load and they can grieve in peace.
We keep the probate process as simple as possible. We don’t use complicated legal jargon. We keep you in the loop. Every effort is made to keep your job simple and pain-free.
Contact us at (989) 567-2100 or click here to get started today.
Grieve in peace without stress.
Trust Administration and the Role of the Trustee
A trustee is chosen by the trust-maker to manage and protect the assets in a trust. Often, parents select a child to be the trustee of their trust.
Once the person who made the trust passes away, the trust needs to go through a process of trust administration. That’s where the work begins for the Trustee.
Being a trustee is an honor, absolutely! But it also comes with a list of what is called trustee duties. You should fully understand and know your responsibilities.
Trustee duties include, but are not limited to, the following:
- Managing trust assets
Make sure the assets are managed and used in the best interest of the people who will benefit from the Trust (the beneficiaries)
- Administering the trust
Follow the instructions laid out in the trust document, and ensure that the trust is administered in accordance with the law.
- Keeping accurate records
Track all transactions and activities related to the trust, including financial statements, tax returns and other documents.
- Communicating with beneficiaries
Provide information and updates to the beneficiaries regarding the trust and its assets
- Resolving disputes
The trustee may need to resolve disputes between beneficiaries or third parties.
- Filing taxes and other legal documents
Ensure taxes are paid and provide other accounting such as annual reports to beneficiaries
- Act in good faith
Act in good faith and with integrity and impartiality towards all beneficiaries
- Avoid conflicts of interest
Aim to avoid conflicts of interest and should disclose any potential conflicts to beneficiaries
A trustee is obligated to act in the best interest of the beneficiaries of the trust (also known as having a fiduciary duty).
They must keep good records of everything that happens with the trust funds. If trust assets are improperly accounted for, the trustee can be held personally liable.
As you can see, a lot comes with being a trustee! However, with our team by your side to guide you, your loved one’s trust will be administered as smoothly and quickly as possible.
Probate is exhausting.
We help keep probate as painless and easy as possible. And proper estate planning can even avoid probate completely!
But if it’s too late for planning and you are facing probate, we can help you through this difficult time.
Our job is to help you save time, conflict, and frustration.
Sarah’s Law Firm is happy to guide you through the process and make the experience as simple as possible.
Contact us at (989) 567-2100 or click here to get started.
Four ways to avoid Probate in Michigan
If you don’t want your family to go through probate for your estate, there are many ways we can help prevent that:
Create a trust-based plan
Wills are required to go through probate, so you need a trust-based estate plan.
That way, you avoid probate, and your money stays in the family.
Use a Lady-Bird Deed
Lets you name a beneficiary for your property while keeping control over it.
You can make changes during your lifetime, but if you don't, the property will pass to whomever your designate without probate.
Go with a POD account
A payable-on-death account is an easy way to keep money out of probate and go straight to your heirs if something happens to you.
Beneficiary designations
Life insurance and retirement accounts, including 401(k)s, annuities, and IRAs, can pass directly to your beneficiaries without having to go through probate.
You don’t have to do this alone.
It’s okay to ask for help.
Even when things go smoothly, the probate process can be daunting. However, you can trust that you will be in caring, knowledgeable hands with our team.
No matter the size or complexity of your estate, Sarah’s Law Firm is committed to serving you as we would our own families.
Contact us at (989) 567-2100 to get started today.
