|
What is
probate and when is it required?
Probate refers to the process of administering
the property or estate of a decedent by a
personal representative (PR). In Michigan the PR
is appointed by the probate court after the
proper paperwork is filed with the court.
Generally the administration of the estate
involves 3 steps. They are:
1. The marshalling of assets.
2. The payment of debts or charges against the
estate
3. Distribution of the estate assets to the
beneficiaries.
Probate is required only when a person dies and
leaves property in his or her own name.
For a free booklet on Administration of
Decedent's Estates please contact my office.
For more information please
contact us!
|