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What is a reasonable executor fee in Michigan?

Executor Fees in Michigan For example, if in the last year, executor fees were typically 1.5%, then 1.5% would be considered reasonable and 3% may be unreasonable. But the court can take into account other factors such as how complicated the estate is to administer and may increase or decrease the amount from there.

Can a personal representative sell property in Michigan?

(a) The personal representative shall not sell the decedent's real property without approval of the court.

What power does a personal representative have?

Once the Grant has been received the personal representative has a duty to collect in the assets of the deceased, pay the liabilities and distribute the estate to the beneficiaries. They have many powers to assist them when dealing with an estate e.g. power to sell property, insure property and invest monies, etc.

How long does a personal representative have to settle an estate in Michigan?

(g) That, if the estate is not settled within 1 year after the personal representative's appointment, within 28 days after the anniversary of the appointment, the personal representative must file with the court and send to each interested person a notice that the estate remains under administration and must specify ...

What power does a personal representative have in Michigan?

A personal representative is under a duty to settle and distribute the decedent's estate in accordance with the terms of a probated and effective will and this act, and as expeditiously and efficiently as is consistent with the best interests of the estate.

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How do I get rid of a personal representative in Michigan?

(1) An interested person may petition for removal of a personal representative for cause at any time. Upon filing of the petition, the court shall fix a time and place for hearing. The petitioner shall give notice to the personal representative and to other persons as the court orders.

How long does a personal representative have to settle an estate in Michigan?

(g) That, if the estate is not settled within 1 year after the personal representative's appointment, within 28 days after the anniversary of the appointment, the personal representative must file with the court and send to each interested person a notice that the estate remains under administration and must specify ...

How long do most estates take to settle?

Simple estates might be settled within six months. Complex estates, those with a lot of assets or assets that are complex or hard to value can take several years to settle. If an estate tax return is required, the estate might not be closed until the IRS indicates its acceptance of the estate tax return.

What power does a personal representative have in Michigan?

A personal representative is under a duty to settle and distribute the decedent's estate in accordance with the terms of a probated and effective will and this act, and as expeditiously and efficiently as is consistent with the best interests of the estate.

Is there a time limit to settle an estate in Michigan?

An estate cannot be closed in less than five months from filing. The estate's creditors must be notified of the decedent's death. They are given a four-month period to file their claims against the estate.

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What is a reasonable executor fee in Michigan?

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How do I get rid of a personal representative in Michigan?

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What power does a personal representative have in Michigan?

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Got questions?

What is a reasonable executor fee in Michigan?

Can a personal representative sell property in Michigan?

What power does a personal representative have?

How long does a personal representative have to settle an estate in Michigan?

What power does a personal representative have in Michigan?

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How do I get rid of a personal representative in Michigan?

How long does a personal representative have to settle an estate in Michigan?

How long do most estates take to settle?

What power does a personal representative have in Michigan?

Is there a time limit to settle an estate in Michigan?

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