Inheritance Loans and Probate Law in Michigan

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August 12, 2017
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August 12, 2017

    Get a Secure Inheritance Loan, usually within 72 Hrs if you’re an Heir or Beneficiary of an Estate in Michigan, in Probate or Trust

    If you are currently dealing with, or about to deal with, the Michigan state court system with respect to a probate or estate issue – the following information should be helpful to you.

    Probate law governs estate matters when someone who, such as a family member or other loved one, passes away. These laws insure that creditors are paid properly and that assets are distributed correctly to the “heirs,” or the descendant(s) of the estate.

    What is the purpose of Probate? Probate is the legal process that deals with estate assets and property, with regard to heirs and creditors. Probate begins with a “petition” to open the estate and name a personal representative who is responsible for the administration of the deceased’s property.

    The next step is when an official Notice of Creditors is printed in a local newspaper and Notice of Administration is sent to other involved parties. Creditors then have a set amount of time to file their claims from the first date of publication. Then the personal representative can pay the debt and distribute the remaining estate. Finally, a petition for discharge is filed, and the estate is closed.

    Michigan Probate Law

    Probate in the state of Michigan requires that the people managing your estate and inheritance issues are well aware of exactly how probate should be conducted, with regard to state probate regulations, deadlines and written executions. In Michigan, this would definitely include “formal testacy” and exactly how hearings are connected to and impelled by petitions. Hearings, and task deadlines associated with hearings, are extremely important during probate in the state of Michigan, just as they are in every state.

    In Michigan it also makes a great deal of sense to be familiar with “election” – plus the expensive penalties that may occur if you do not “elect” in a proper time-frame. This is the sort of area where your probate lawyer will come in very handy, as it directly impacts the inheritance of all the heirs.

    There are of course many other areas in Michigan probate law to be especially concerned with, and where you will most likely want a probate lawyer closely involved, if the scenario relates to your situation. It’s critical, for example, to be specifically aware of the manner in which so-called “after-born heirs” are dealt with, insofar as wills that have been executed previously are concerned. For example, if a female is expecting a child when her husband passes away, any unborn children are, under Michigan law, to be regarded as “alive”, given that the child (or children in the case of twins or multiple births), remain alive for at least five days post birth.

    Time-frame issues, with respect to deadlines concerning tasks and formal probate documents, are also very important during probate in the state of Michigan. This would involve affidavits, requests, inventories, petitions, orders, and so on.

    In Michigan, formal testacy proceedings move forward only when the probate court grants approval. Notices are then sent out to all of the heirs of the decedent.

    If the surviving spouse declines an “election” in Michigan (meaning, they formally agree, in public, to accept, as their inheritance, the share of the estate as stated in the will), the court accepts, as a default position, that the spouse agrees to such a share. This is not the case only when no election has been made by the time the administration of the estate in probate has been closed, or ended. Your probate attorney will know what exceptions exist, and how they are to be dealt with.

    Hiring a probate lawyer who is familiar with Michigan probate law will be invaluable to you. Your probate attorney should, in fact, be there through the entire probate process to insure the inheritance process is being handled properly. We do not advise going through Michigan probate alone!

    Michigan Probate Resources

    Michigan has 78 probate courts and 106 judges. These courts have jurisdiction over estate, mental health matters, juvenile issues & certain jury trials.

    Inheritance Taxes:

    Click Here To Contact a Michigan Probate Cash Advance Representative