The period of time following the loss of a loved one is, of course, a difficult one. At times, challenges concerning estate administration may arise during an already difficult period. Disputes surrounding the legitimacy of a will or trust; the appointment of a guardian or conservator or power of attorney; or the administration of a trust or estate are potential challenges that may arise following the death of a loved one.
Because many people fail to plan for the end of their lives, many people are also surprised by the chaos and confusion that can follow one's death with regard to estate administration. There are several different reasons that one's estate may end up in probate court, but Prince Law Firm has the experience necessary to resolve whatever issues exist or arise.
Many Michigan residents have very little knowledge about what exactly happens to a person's estate after he or she dies. Probate administration, and the word "probate" in general, are commonly tossed around. But, the meaning of these terms may be unclear. Probate litigation is another spin on the term, and potential heirs and other interested parties would do well to understand its implications.
In Michigan, the term probate generally refers to the administration of the estate of a person who has died. The term generally encompasses the estate administration regardless of whether the deceased person had a will--and thus made his or her wishes regarding assets and property known--or did not have a will. However, having a will simplifies the probate process because assets and property previously owned by the deceased person will be distributed according to the will provisions as long as the will is deemed valid.
Aging and dying are not things that most Michigan residents like to think about, both because the future is so unknown and because planning for the end of your life is generally not pleasant. However, there are many different reasons that you should seek advice regarding estate planning and administration.
Probate is a word that refers to the process of estate administration after a person's death. The administration of the estate is carried out by someone named as the personal representative of the decedent. The representative may have been named in the decedent's will or a probate court may appoint an interested person as the estate administrator and personal representative.
American statesman Benjamin Franklin once mused, "An ounce of prevention is worth a pound of cure." Although these enduring words can apply to many situations in life, they are particularly relevant to the estate administration and probate process. Personal representatives, or executors, may have the best intentions at heart, but an honest mistake can have unintended and damaging consequences.
Many people go their entire lives without ever having to be involved in the probate process. Nowadays people are living longer, which often has the unintended result of many people using up all of their assets prior to death, with nothing much of value to pass on to their heirs. And, as anyone familiar with previous posts here knows by now, there are still many people who don't have an estate plan, even though they probably should. All of these factors, combined with the relatively infrequent contact most people have with a probate court, can result in a bit of mystery surrounding probate, and especially probate administration.
It is quite understandable if Michigan residents have a lot of questions about the probate process. After all, anyone familiar with previous posts here knows that topics can range from the details of trusts to powers of attorney to long-term planning. With so many factors to consider during the planning stage, there is every reason for an estate planner to think about what will occur when the actual estate administration process begins.
When many people have an estate plan drafted they name charities as beneficiaries. This can happen for any number of reasons, but in many situations this is a popular option for people who do not have any close family or friends as potential heirs to the estate in question. What some of our Michigan readers may not realize, however, if that if any type of probate litigation arises due to questions surrounding bequests to charities a state's Attorney General may have grounds to get involved.