Estate Administration in Michigan
Losing a family member is difficult under any circumstances. If you have been left to manage the assets of an estate you bear an additional burden. Estate administration can be highly complex, adding additional stress during an already difficult time. After the loss of a loved one, you need competent counsel to guide you through the complex process of administering your loved one's estate.
Estate administration, sometimes including probate, is the legal process of settling the affairs of an estate after a person's death. It includes paying off estate or trust debts, winding up businesses and transferring remaining estate or trust properties into the hands of beneficiaries.
What Assets Can Avoid the Probate Process?
Generally, the following types of property often need not be transferred:
- Jointly owned property (e.g., joint bank accounts and other property owned in joint tenancy with the right of survivorship)
- Life insurance policies
- Pension benefits, IRAs and other retirement accounts
- Properties owned by a revocable trust
- Motor vehicles with combined values that do not exceed $60,000
- Watercraft with combined values that do not exceed $100,000
- Cash up to $500
- Unpaid wages from an employer
- Personal property with a value less than $22,000
At Willis Law, we represent individuals and fiduciaries throughout the estate administration process. Our estate administration attorneys will also act in the capacity of trustee and personal representative for your estate, if you choose.
Protecting Estate Assets in Michigan and Wherever Else They Are Held
We provide full-service representation to families who need assistance with estate administration. We counsel fiduciaries about their obligations and rights during the process and also settle issues related to the following:
- Settling the estate to maximize the property available to beneficiaries
- Administration of large, complex estate plans
- Counsel related to federal estate tax return and performing postmortem tax planning
Whether an estate plan is clear and concise or there are significant assets not defined in a will, we can work with you to make sure the state cannot seize property that rightfully belongs to beneficiaries. We have a thorough understanding of estate and probate laws and will work to protect your rights throughout the estate administration process.
To learn more about our estate administration services, contact us today for a free initial consultation with a lawyer. We have office locations in Kalamazoo, Grand Rapids and Paw Paw.