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.
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.
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.
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.
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.
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.