Being a fiduciary is a huge responsibility. When you serve as a fiduciary (personal representative, guardian, conservator or trustee) it is important to follow all of the requisite statutes and court rules. The fiduciary is expected to complete his or her duties within a reasonable period of time and within the timelines set forth by [...]
You’ve just been appointed the personal representative of a decedent and you receive a document called “Letters of Authority for Personal Representative.” This document is really important, because it allows you to stand in the shoes of the individual who has died. In this role, you are responsible for collecting and reporting on all of [...]
You have been appointed as a fiduciary by the probate court, but you live out of state or even out of the country. What do you do? Well, distance from the probate court can make it difficult to stay up to date and to fulfill your duties as a guardian, conservator, or personal representative. Hiring local counsel [...]
What is the difference between a Conservator and Guardian? In the court of law, an adult who is unable to take care of themselves or their property and minors are considered to be incapacitated persons. An incapacitated adult or minor will need someone to oversee them, assuring their safety and well-being. Enter guardians and conservators, [...]
Conservator Appointment in Michigan Unfortunately, there are times when a person is not able to manage their own financial affairs. If the person has failed to adequately plan with a Power of Attorney, a person, called a “conservator” can be appointed by the probate court in which the individual resides. Upon the filing of a [...]
Why should an estate plan be top-of-mind for millennials? The truth is, we cannot predict the future. We don’t know when our time will come. Terrible accidents happen all the time. What we do know is what a mess you could potentially be leaving behind if you do not have a will. As millennials begin [...]
Don’t let your investments end up being considered just “personal property.” After your death, all of the things in your home or office are considered “personal property” and depending on how you’ve planned, may become subject to the determination of the person appointed as your personal representative. The personal representative can decide to sell them, [...]
Probate costs can far exceed the cost of personally crafted estate plan. Everyone’s situation is different, and therefore, everyone has a different need for an estate plan. An estate plan is personalized and created custom to fit your needs. You could say that getting a skillfully drafted estate plan is one of the best investments [...]
When would I encounter a Guardian ad Litem? Let’s say you’re in court as the Personal Representative of your loved one’s estate and you have everything ready to go. You have your letters of authority, an inventory in hand, and you are about to petition the court to get approval to sell some real property. [...]
The probate court has delivered Letters of Authority appointing you as Personal Representative of your loved one’s estate. So, now what? This is a tremendous responsibility, and it is easy to get overwhelmed by the long list of what needs to be done, all the different court requirements and deadlines, and the arduous processes of [...]
