What is the meaning of the word Probate. The Probate Pro receives hundreds of telephone calls and email each week. And during these communications, there is one word's meaning that causes tremendous confusion. What is that word? PROBATE So, what the heck is Probate? https://youtu.be/pfp9_m6ks4g Probate Meaning - Definition So, let’s look at the definition [...]
When you take on the important role of serving as a Conservator on behalf of another person one of the required responsibilities is to account for the finances. Michigan statute MCL 700.5418 provides that a conservator shall account to the court for administration not less than annually unless the court directs otherwise, upon resignation or [...]
You are the personal representative of a deceased estate and you need to give notice to creditors. Chances are you already gave notice to creditors you were aware of. However, there’s always the chance there are unknown creditors, and because of that, they have a right to be given notice by the personal representative. So, [...]
When an estate is coming to a close, there are two ways to complete it – a formal way and an informal way. When closing in a formal way, you will need to file a form known as the Petition for Complete Estate Settlement. The Petition for Complete Estate Settlement is a State Court Administrative [...]
You’ve been appointed the personal representative of a deceased estate in the State of Michigan. Now, it is time to present the probate inventory. First, you need to complete the Estate Court Administrator form for the preparation of the required probate inventory. This form is required under both Michigan statute and Michigan Court Rule. We [...]
What is an Estate and an Estate Plan? When people hear the word “estate,” some may think of movie-like mansions, sprawled across the mountains with swimming pools and acres of land. However, an estate refers to any assets that you have. This means anything that belongs to you. An estate plan contains a variety of [...]
An individual has recently passed away, and has money remaining in his or her bank account. Can anyone just walk over to that bank or an ATM and take the money out? The answer is no. Once an individual has died, there are steps which need to be taken in order to be able to [...]
Funeral and burial expenses are things you just don't like to think about. If not the expenses, then at the very least, you don't like it because you're saying goodbye to someone you've loved or cared for greatly in your lifetime. If those don't even move the needle, then think about this: the decedent's estate [...]
Understanding how to probate can be difficult. It's by design, but it's also done to make sure everything is taken into account. The process is long and arduous, with many forms to be filled, appearances in court that need to be made, and that's just the tip of the iceberg that is this process. But, [...]
For our generation, estate planning is often the last thing on our minds. Many millennials are struggling to make ends meet, overwhelmed by student loans and trying to get their finances in order. However, a proper estate plan can provide financial security for your loved ones and carry out your wishes following your death or [...]
