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When someone passes away, probate court proceedings are required when the decedent owns assets that are listed under their name alone. There are 4 steps to Michigan probate....These are: Appointing the Personal Representative. ... Assembling the assets. ... Paying the bills. ... Distributing the remaining assets.
Assets owned in the deceased's name only (such as real estate, bank accounts, stocks and bonds) and personal property exceeding $15,000 generally have to go to probate court. Michigan law also allows for a streamlined probate process in the case of smaller estates under a certain value.
In general, non-probate assets are those that have a beneficiary or payable-on-death designation. These can include life insurance policies, bank accounts or brokerage accounts with a transfer-on-death designation, some retirement assets like 401k accounts, or jointly-owned property.
In the best of circumstances, when everything goes smoothly, the probate process takes at least seven months to complete. A delay due to the nature of the estate or other issues can extend that time by months or even years, depending on what causes the delay.
Assets owned in the deceased's name only (such as real estate, bank accounts, stocks and bonds) and personal property exceeding $15,000 generally have to go to probate court. Michigan law also allows for a streamlined probate process in the case of smaller estates under a certain value.
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Most Michigan probate cases can be wrapped up within seven months to a year after the personal representative is appointed. After notice of the probate is given, creditors have four months to file a claim.
Typically, after death, the process will take between 6 months to a year, with 9 months being the average time for probate to complete.
Will Probate Be Necessary? Probate court proceedings are necessary only if the deceased person owned assets in his or her name alone. Other assets can probably be transferred to their new owners without any probate court involvement.
Will Probate Be Necessary? Probate court proceedings are necessary only if the deceased person owned assets in his or her name alone. Other assets can probably be transferred to their new owners without any probate court involvement.
In general, non-probate assets are those that have a beneficiary or payable-on-death designation. These can include life insurance policies, bank accounts or brokerage accounts with a transfer-on-death designation, some retirement assets like 401k accounts, or jointly-owned property.

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