Here you will find comprehensive information regarding probate in Macomb county.
A will is simply a formal way of setting forth your wishes regarding how you would like your property distributed upon your death.? You should consider a will whether you are single, married, have minor children, or own even a small amount of personal assets or property.? In fact, every adult should have a will or other means to control the disposition of their assets.? If you have not formalized your intentions, your estate may meet with unnecessary and costly litigation, adding to the grief experienced by your survivors. Avoiding the financial and emotional turmoil of will contests and other legal wrangling starts with choosing an experienced estate planning attorney.
Are There Different Kinds of Probate?
• Supervised: The most formal and expensive method. The court plays an active role in approving each transaction. In states where it’s optional, supervised administration is used for contested estates, when an interested party requests it, or when the executor’s ability is questioned.
• Unsupervised or independent: A simpler, cheaper method in which the number of duties and procedures is reduced and the court’s role is diminished or eliminated. It’s used for estates that exceed the asset limit for small-estate administration (see below) but don’t require heavy court supervision. It often requires consent of all beneficiaries, unless the will specifically requests unsupervised administration.
• Small estate: The simplest and fastest probate, it’s not available in every state and where it is only for small estates, ranging from $1,000 to $100,000, depending on state law. Property is often transferred by affidavit. Small estate administration often lasts only a few weeks.