When a loved one passes away, it can raise questions about their estate plan. If they had a Will, you might be wondering whether Probate court is still necessary. The Probate process can be complex and varies depending on individual circumstances. Whether or not a Will needs to go through Probate is contingent on numerous factors, including the type and value of assets involved, as well as the specific laws of the jurisdiction where the deceased resides. As such, it’s in your best interest to connect with an experienced Washtenaw County Wills Attorney who can provide invaluable guidance tailored to your situation. Please continue reading as we explore when Wills need to go through Probate in Michigan.
What is Probate?
Probate is the legal process of validating a deceased person’s Will, and if no Will exists, the court must appoint an executor. In addition to verifying the Will’s legal validity, the Probate court oversees the distribution of assets to ensure it aligns with the Will’s terms and conditions. Before assets can be distributed to beneficiaries and heirs, outstanding debts and taxes are usually settled at the beginning of the process. This can be a time-consuming, costly, and stressful process depending on the state and any disputes. As such, it’s crucial to consult with a knowledgeable attorney who can help explore your options for avoiding this process altogether.
Do All Wills Go Through Probate in Michigan?
Contrary to popular belief, not all Wills need to go through Probate. Probate is typically only required for assets held solely in the deceased person’s name, or if there is a need to resolve disputes among beneficiaries or creditors. There are several ways to circumvent this process, especially if assets are held jointly or have named beneficiaries, or if the estate is small. If your Michigan estate is valued below a specific threshold, you may be eligible to undergo a simplified Probate process, which can significantly reduce the time and cost of full Probate proceedings.
It’s important to note that certain property is exempt from this legal process. Assets held in an irrevocable living trust can avoid Probate, as they are not technically part of the estate. Additionally, some assets, like those that are jointly held or have a Transfer of Death destination, Will not be subject to Probate because they are immediately transferred to beneficiaries.
As you can see, Probate is an intricate process. If you are planning your estate, it’s advisable to enlist the help of an attorney from Collis, Griffor, & Hendra today to explore your legal options. Connect with our firm to discuss your future with a legal team you can count on.
