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What is an inventory fee in probate court Michigan?

The probate court is required by MCL 600.871(1) to charge and collect an inventory fee as an expense of administration on the value of all assets in a decedents estate. This fee must be paid before closing the estate or within one year after filing the proceeding to probate the estate.

What assets are exempt from probate in Michigan?

When is Probate NOT Required in Michigan? Assets that are jointly owned. For example, a house is jointly owned by a husband and wife. Assets with beneficiary designations. For example, a retirement account with a designated beneficiary listed. Assets held in a Michigan Living Trust.

How long do you have to file probate after death in Michigan?

If you are serving as the personal representative (executor) of someones estate, you might be wondering how quickly after their death you must file probate. Unlike some states, Michigan does not have a required filing deadline for a probate case.

What is the probate inventory fee in Michigan?

In an estate of value of less than $1,000.00, $5.00 plus 1% of the amount over $500.00. In an estate of value of $1,000.00 or more, but less than $3,000.00, $25.00. In an estate of value of $3,000.00 or more, but less than $10,000.00, $25.00 plus 5/8 of 1% of the amount over $3,000.00.

How much does an attorney charge for probate in Michigan?

How Much Does a Probate Lawyer Cost in Michigan? Probate attorney fees in Michigan depend on the specific details of the estate and how complicated the proceedings will be. Attorney fees in the state can cost anywhere from four to eight percent of the estate value.