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Probate assets include, but are not limited to, the following: A bank account or investment account in the sole name of a decedent. A life insurance policy, annuity contract, or individual retirement account payable to the decedent's estate.
A will remains a private document until probate is granted. Once the probate court declares the will as valid, beneficiaries must be notified within three months, though ideally, notification will much sooner.
How do you start the Probate process in Michigan? Probate must go through the county Probate Court in which the decedent resided at the time of their death. Once you determine whether you need a formal or informal probate proceeding, you need to file a petition with the county Probate Court to get the process started.
In Florida, you can make a living trust to avoid probate for virtually any asset you own\u2014real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).
Probate. If you are named in someone's will as an executor, you may have to apply for probate. This is a legal document which gives you the authority to share out the estate of the person who has died according to the instructions in the will. You do not always need probate to be able to deal with the estate.
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If the person died without a will, you can still proceed with informal probate if there is no dispute regarding the identity of the heirs. Formal probate means that the estate must be opened by filing a petition for a hearing before the probate court and can mean continued involvement of the court.
If a person passes away without a will or trust and has assets in their name ONLY, then probate is required to distribute property and monies. If property, bank accounts, insurance policies, annuities, 401K plans, and all assets have beneficiaries or joint owners, probate is unnecessary.
An interested party of the estate can open a Michigan Informal Probate by filing paperwork with the Probate Court register in the county where the decedent lived. An interested party is typically a family member of the deceased. A person who is named in the Will but is unrelated to the decedent may also open a Probate.
Formal administration is the more involved variety of Florida probate. Formal administration is required for any estate with non-exempt assets valued at over $75,000 when a decedent died less than two years ago.
Most estates must go through probate in Florida unless they are in a living trust or have a payable or transfer upon death attached or have a named beneficiary. However, there are two types of probate in Florida. They are known as formal administration and summary administration.

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