October 17, 2016
4 Ways to Avoid Probate in Michigan
How to Avoid Probate in Michigan
Not everyone knows exactly what probate is, but most people get uneasy when they hear the word. According to lawyersinmichigan.com, Probate is the process of distributing someone’s estate after they pass away. It can be a costly and long, drawn out process depending on what kind of plans (if any) are in place before someone dies. Read along if you’re interested in how to avoid probate in Michigan.
Plan Ahead – Save Your Family from the Hassle
For some people, just thinking about what will happen after they pass away can be stressful, but at least a valid will at the time of your death, then your personal representative can take care of distributing your property according to the guidelines you set forth. However, if there is no will or not one that is strong enough to be held up in court, your property will be distributed according to the state’s guidelines instead. This is where the process can get long and costly. The state must go through their steps and all the red tape that goes along with them, sticking your family with the court fees and taking them along for the ride.
What Can You Do to Avoid Probate in Michigan?
Having a will is a great start to help your family avoid probate court. With a will, you can choose the person you want in charge and give them instructions for how you want your property distributed after you pass away. Another legal document that can keep the control in your hands is a trust. Both a living trust and a castle trust can help you avoid probate. Typically, property is set up to be put into a living trust when you die or is transferred into a castle trust right away. One really great thing about these trusts is that your instructions for what happens to your stuff can be very detailed, depending on which kind of trust you choose. Who doesn’t want peace of mind when it comes to making sure their hard-earned assets go exactly where or to whom they want it to?
Take a Step in the Right Direction
When it comes to planning your estate, whether you decide on a will or a more comprehensive plan that includes a trust, having the legal documents in place can save your family from the headaches of probate court. At The Elder Care Firm of Christopher J. Berry, CELA, we specialize in creating customized estate plans to meet the needs of your specific situation. We know that planning for what happens after someone passes away can be difficult, so that is why we work closely with clients to make sure their property and assets are taken care of. Why not give your family one less thing to worry about? Contact us today to find out more about estate planning and how we can help you protect the ones you love.
Have You Lost a Loved One?
If you have lost a loved one and are looking how to settle an estate in Michigan, then download our free estate administration guide.