How a Michigan Probate Law Firm Can Help Settle Your Loved One’s Estate

This goes without saying but losing a loved one can be devastating. However, sometimes the loss of a loved one also comes with an insurmountable amount of challenges when it comes to the settlement of their estate. Facing such legal challenges when you are dealing with grief can be rather overwhelming. 

However, you can rid yourself of these challenges or at the least alleviate them to a certain degree by simply hiring seasoned probate lawyers in Michigan. These lawyers can offer you legal counsel in dealing with the entire probate process. Moreover, they’ll make sure that matters related to your loved one’s estate are settled efficiently without any legal pitfalls. 

In this article, we would like on probate law firms and the role they play in helping you deal with the often lengthy and costly probate process. 

So without much further ado, let’s dive in. 

What is Probate?

 Probate entails a legal procedure through which a dead individual’s estate is settled. A typical probate process would involve the following tasks

• Verification of a will (If it exists).
• Inventorying of assets
• Clearance of debt
• Distribution of assets to designated heirs after debts are cleared. 

On the surface, probate may seem like just another simple legal process. However, it is complex and costs you a lot of time and money. The probate process becomes considerably more complicated if there is a dispute involved. 

A layman cannot tackle this process on their own as the risk of making costly mistakes is high. This is a task best left to the experts. This is a task you let a seasoned probate lawyer in Grand Rapids handle. 

Importance of Probate Lawyer

A revered and reliable probate lawyer will help you navigate the complexities that come with a typical probate proceeding. From offering you advice to representing your interests in the probate court, probate lawyers play a decisive role in making sure the process is handled without any hiccups. 

Here are just a few ways in which a probate lawyer in Grand Rapids can help you

1. Starting the Probate Process

A probate lawyer will start assisting you by first determining whether a probate is necessary in your case. Not all estates in Michigan have to go through a lengthy probate process. If assets are jointly owned or an estate’s value happens to be under a certain threshold, estate matters can be settled through a very simple process. 

A lawyer will assess your case and suggest a course of action that’s best for you. If a probate process is necessary, you can rely on your chosen probate law firm in Michigan to assist you with all the formalities and paperwork involved in initiating the proceeding. They’ll ensure there are no mistakes when filing, thus preventing any unnecessary delays and complications.

2. Counseling the Personal Representative

 According to Michigan probate laws and rules, a personal representative is someone who’s tasked with managing key aspects of an estate during a probate. These tasks could range from clearing debts to inventorying assets. If there are any errors in performing these tasks, the estate could face severe legal troubles. 

The expert guidance of your probate law firm in Michigan ensures this is never the case. A law firm that specializes in probate can help a personal representative perform their duties efficiently and without errors.

3. Managing Disputes

Disputes arise for several reasons. Perhaps the will isn’t clear on its terms. Family members may find themselves at odds when it comes to the distribution of assets a dead loved one left behind. A probate law firm will first try to resolve this dispute through mediation. 

If mediation doesn’t resolve the issue, they’ll be ready for litigation. These lawyers can argue for the validity of a will and protect your estate from frivolous claims. Disputes are very common in probate. By hiring a probate lawyer, you essentially prepare yourself for a battle that might arise once you’ve passed away.

4. Handling Claims by Creditors

According to Michigan probate law and rules, creditors have a window within which they can file a claim against an estate. This period is typically within 4 months after the notice goes out. Once the claim is made, the personal representative must assess it and determine whether the claim made is valid in the first place. 

Any form of error cannot be afforded here. An expert probate lawyer makes sure this is the case. They’ll help the personal representative carefully verify each claim made and clear the debt in time. They’ll also flag false and frivolous claims. The lawyer could also sit down with creditors to reduce the debt on an estate.

5. Settling Taxes

Debt isn’t the only thing that must be settled to close an estate. Sometimes there are taxes involved as well. Now in Michigan, there isn’t a state estate tax. However, your estate might be liable to pay federal estate tax. If there are taxes to be cleared, a good probate law firm will assist you in filing and paying them off without delay. 

 Besides this, the lawyer can also devise strategies that could minimize tax liability on your estate. Taxes can erode the value of an estate before it is inherited by designated beneficiaries. Through gifting strategies of trusts, a lawyer can protect your estate from taxes.

6. Asset Distribution

You can focus on fair distribution of assets once the debt and taxes on an estate are settled. A probate law firm will ensure the assets are distributed fairly, in compliance with Michigan laws, while honoring the wishes dictated in the will (if it exists). If there are disputes, you can rely on your lawyer to guide you through a strategy that could resolve the issue.

7. Closing of an Estate

Once all the debt and taxes are cleared and the assets are fairly distributed, a lawyer will proceed to close the estate. They’ll prepare the final accounting document and file it with the court for review and approval. Once the court approves the document, your estate is officially closed.

When is Probate Necessary?

Probate becomes imperative if

• The estate is huge and complex
• There is a dispute between heirs and beneficiaries
• There is no will

Conclusion

Dealing with the loss of a loved one is hard enough that you don’t want the additional stress of handling the probate process. This complex process is best left to the experts. This is where seasoned law firms like our own Sean Patrick Cox come into play. Our firm is often the first name that pops up when you Google – “best probate lawyers near me”. 

You can count on us for efficient and informed support during a time that can be described as challenging at best. We know what the probate process entails and know of strategies that can streamline it from start to finish considerably. 

We ensure the estate of your loved one is settled peacefully and without any legal complications. As we said, Sean Patrick Cox is the first name that pops up when you Google – “best probate lawyers near me”. 

Call us now if you want the best probate lawyers to help you. 

Initial consultation with our lawyer is free.