Probates can be costly and time-consuming. Not only are there fees that both the executor and the probate court will charge, but different parties can challenge the will itself in court – which costs time and money. In Ann Arbor, probates can be a quick process if you know what you’re doing. In hiring an Ann Arbor probate attorney, you will have the tools you need to go through the probate process confidently.
What is “probate”? Probate is the legal process where the decedent’s property and assets are distributed. In other words, after your loved one has passed, some steps need to be taken to ensure that all the assets and property are distributed according to the will. To have a successful probate, you need the right tools at your disposal to make sure the process moves quickly.
One of the tools that you need, without a doubt, is information. Did the decedent leave a large or small estate? The estate is considered a small estate if the gross estate value is fifteen thousand dollars to less. With this, the assets and property can be passed on to the surviving spouse or beneficiaries. Another way, according to MCL 700.3987, is if “the inventory and appraisal that the value of the entire estate, less liens and encumbrances, does not exceed administration costs and expenses, reasonable funeral and burial expenses, homestead allowance, family allowance, exempt property, [etc.]”, then the estate can be transferred over to the entitled individual. In both of these cases, the idea is a small estate does not need to endure the complexities of a probate court and the extensive arguments that are often involved between parties.
Another way to shorten the probate process involves the amount if the estate. If the gross value of the estate is less than fifteen thousand dollars and you are willing to wait a twenty-eight-day waiting period, then you can provide an affidavit and a copy of the decedent’s death certificate to get the assets or property directly.
With the experience of a seasoned probate lawyer, you will have the information and tools at your disposal to get through the probate process as quickly as possible.