When you create your estate plan, you can make changes and decisions that allow many assets to pass to the recipient of your choosing without the need to open a probate estate. There are times, however, when you have no choice but to open a probate estate, which often happens when the person who has died had no estate planning in place. Opening a probate estate may also be necessary when the deceased owned assets that could not pass to another person without a court order.
It is usually possible to probate a small estate via what is called an “unsupervised administration” or informal proceeding. Conversely, there are times when it is appropriate to ask for a “supervised administration” or formal proceeding in Monroe County Court. Kyrsten will help you determine which one suits your needs. Once it is determined which route works best for you, Kyrsten will help you through the process.
There are many steps, and lots of paperwork, involved in opening and administering an estate. Probate lawyer Kyrsten Niemiec and KN Legal in Monroe, MI can help you navigate those steps, alleviate some of the pressure on you and allow you to focus on processing the loss of your loved one.
Probate is necessary when the deceased individual has property that cannot transfer without appointment of a Personal Representative by the court. This is often necessary when someone dies without a Will and other estate planning in place.
For example, a person’s most valuable asset is often their home. If proper estate planning transferring the home prior to or upon the individual’s death is not in place, only the Personal Representative who has been appointed by the Monroe County Probate Court will have the authority to transfer this, and all other, assets.
Additional examples of items of property that might require probate are life insurance or retirement accounts with lapsed or missing beneficiaries or bank accounts without designations for transfer upon death.
The Monroe County Probate Court has jurisdiction over issues related to deceased individual’s estates. In addition, the Probate Court handles adoptions as well as petitions for guardianship and conservatorship.
If an individual dies without a Will and there is property that cannot transfer without a Personal Representative being appointed by the Court, an Application for Probate and Appointment of Personal Representative will have to be filed.
In most circumstances, unsupervised/informal administration of the estate is available. In some cases, only supervised/formal administration is available. The difference between these two designations are the processes followed to establish the probate estate as well as the level of involvement the Court has in the proceedings.
You can avoid probate by making sure that all your property will transfer upon your death, which is done by making beneficiary designations, executing specific deeds for real estate, and ensuring that all accounts have transfer on death designations.
Another way to avoid probate is by establishing a living trust into which you move all your assets prior to your death.
There are many laws and rules to negotiate and documents to draft to open and administer a probate estate in Michigan. While you are not required to retain a lawyer for these, or any, proceedings in Michigan, it is a good idea to get the assistance of a professional.
A conservatorship exists when a person either agrees to its establishment or when that person has been deemed by the probate court to be incapable of managing their own finances. Its purpose is to protect the financial assets of the individual while also allow for payment of their living expenses.
A conservator has the authority to manage the financial estate of the protected individual (the subject of the conservatorship), including making investment decisions or decisions about how money is spent, and has a fiduciary duty to the protected individual to always act in their best interest and never for personal gain.
KN Legal/Kyrsten Niemiec, PLC
13 Washington St.
Monroe, MI 48161
(734) 240-0110