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Estate Administration & Probate Archives

For estate plans, start with focusing on yourself

There are two main misconceptions when it comes to estate planning. The biggest one is that estate plans are only for the wealthy, or those whose assets are in the high six figures to seven figures and upwards. The second biggest misconception is probably even more pervasive: that estate plans are more for your loved ones than for yourself.

Accessing online assets during probate

In 2007, Microsoft completed a study revealing that people who used the internet had an average of 25 digital accounts. These included online banking, social networks and a variety of others. This study took place a decade ago, and in that time, technology has dramatically increased the ability to conduct many personal transactions digitally. Unfortunately, most people in Michigan still do not understand the importance of those digital assets when it comes to estate administration and probate.

How debt is handled during estate administration and probate

Anyone chosen to be the executor of an estate may find out quickly it is not an easy job. The many duties of the executor include gathering the assets and securing them until Michigan estate administration and probate are complete. However, a less commonly known job of an executor is to deal with the debts of the departed. This can be a tedious and time-consuming task, and it is often the reason for the delay in the distribution of assets.

Estate and probate administration complicated by lost heir

In many cases, after a loved one dies, probate goes smoothly and assets are distributed to designated heirs within a few months. However, what happens during estate and probate administration when an heir cannot be located? Since the executor of an estate must make every reasonable effort to find and inform all heirs of their inheritances, losing track of an heir may mean long delays in the closing of an estate.

Risking estate administration and probate without legal help

When a family remains close, it is common for grandparents to want to leave a little something for their loved ones. Those in Michigan who have particular wishes for their assets create a will or trust by speaking with an attorney with experience in estate administration and probate. Without leaving a plan, well-meaning grandparents may instead leave headaches for their loved ones.

Steps involved in estate administration and probate

Very few people in Michigan pass away after having resolved all of their financial issues. In most cases, they leave behind bills to pay, taxes and perhaps other debt. Additionally, they may have assets, the documentation of which might be scattered in various places. Estate administration and probate are essential for bringing those issues to closure. While some may think probate is something to avoid, in many circumstances, it is necessary to bring a fair resolution to one's unfinished business.

Executor duties through estate administration and probate

The old saying that no good deed goes unpunished may also be true for administrating someone's estate. While it may not be exactly punishment, a person who is chosen to be the executor of a loved one's estate may certainly feel burdened by the responsibility. Estate administration and probate can be challenging and frustrating, and those in Michigan who are chosen for the job should be aware of some of the requirements.

Estate administration and probate can be simplified with a plan

People who have the habit of making daily to-do lists know that there is almost nothing as satisfying as crossing something off the list after they have completed the task. The satisfaction may be even more rewarding if the task was particularly difficult or uncomfortable. However, one task that many people in Michigan fail to add to their lists is the completion of an estate plan. Failing to give this matter importance on the list of priorities often leads to frustration for heirs during estate administration and probate.

Preventing rivalry during estate administration and probate

After making end-of-life and estate plans, many people in Michigan feel satisfied that they have done something positive for their heirs. While children may appreciate when their parents think ahead on these matters, things may not go as smoothly as the parents had hoped during estate administration and probate. If parents have chosen to divide their wealth unevenly among their children, unhappy siblings may decide to challenge the will.

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Phone 517-219-9301

Toll Free 888-288-5LAW

Fax 517-223-8233