If you have recently lost a loved one, probating an estate is probably the last thing on your mind. However, at some point, this is an issue that will have to be addressed, and it is usually on the decedent’s family members to handle these affairs somewhere down the road. If the deceased passed on with a small estate, you are probably wondering whether it makes sense to hire an attorney to help you out when the value of the estate is so low.
I would always recommend hiring an attorney to make sure your legal issues are handled correctly so as to avoid additional hardship later on. But in the event that this is not an option, and the estate is small, here are some tips on what to do with a small estate.
Probate Process In Michigan
In Michigan, a small estate, in the year 2013 (the value of a small estate changes from year to year), is an estate with a total value of $21,000 or less. To probate this estate, a Petition, Order for Assignment, death certificate and receipt for the funeral expenses must be filed with the Probate Court. Once the value of the estate is approved by the court, the surviving spouse is entitled to the remainder of the estate (once funeral expenses are paid off in full). If there is no surviving spouse, the decedent’s heirs (usually children or grandchildren) would take the remainder of the estate in equal shares.
It is important to note that creditors must be paid by those who are entitled to the estate in an amount that is no greater than the value of the estate within sixty-three days after a judge’s order. There is a filing fee of $25 to open a small estate, and an inventory fee must also be paid. It is often helpful to Google the Probate Court with jurisdiction in your situation. The court’s website typically provides the documents needed to open a small estate, and may also provide a step-by-step procedural analysis.
Goldman and Associates Law Firm is here to provide you with information about Probate in The State of Michigan. Goldman and Associates has years of experience and knowledge on High Assets Divorces in Michigan. Contact us today if you have any questions regarding Probate in the State of Michigan.