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Probate Administration Archives

Probate considerations regarding small estates

When it comes to the probate process, all sorts of questions may arise and this is true for those who set up estate plans and the loved ones of those who have passed on. For example, some people may wonder how they can avoid the probate process altogether, which may be possible if they move forward with the right kind of trust. Moreover, some may wonder if their estate will be subjected to probate because it is relatively small. On the other side, people may struggle with probate disputes following the loss of their loved one, even if the estate was relatively small.

Accusations over the breach of fiduciary duties

If you are a trustee or personal representative who has been accused of breaching your fiduciary duties, you may be completely unsure of which steps you need to take to address the situation or worry about the outcome of the dispute. To make things more complicated, it is very possible that loved ones are involved, such as a parent, sibling or child, which can make the entire ordeal even more challenging to navigate. As a result, it is critical to know what your rights are and which course of action makes the most sense.

Handling a probate dispute with your sibling

There are many different reasons why disputes come up during the probate process, but some can be especially challenging to work through. For example, someone may find themselves in a dispute with their brother or sister for any number of reasons and these disagreements can make the loss of a loved one even more challenging for the entire family. If you are in the middle of a dispute with your sibling over an estate-related issue, it is crucial for you to do what you can to resolve the issue fairly and minimize negativity, if possible. However, you should also know your rights and stand firm if they have been violated.

A look at the breach of fiduciary duties

When it comes to the probate process, there are a wide variety of challenges that people on all sides may encounter. For example, a beneficiary may not believe that their loved one's estate plan was distributed according to his or her wishes, while an executor may struggle with all sorts of different legal issues. However, the breach of fiduciary duties is often an especially tough issue for beneficiaries and executors alike. If you are in this position, you should go over the ins and outs of your circumstances from a legal perspective and know your rights.

What if you die without a will?

No one wants to think of their passing, but residents of Michigan should take the time and effort to make a plan regarding what to do with their assets when they die. If someone dies without a will, the state is in charge of distribution, and there is a progression of who the assets are passed to. To avoid complications or legal battles among intended heirs, it is always a good idea to have a legal document detailing how your assets should be allocated.

Choosing the right beneficiary for your retirement account

The beginning of the year is a good time for people in Michigan to review their estate and ensure the right beneficiaries are named. Retirement accounts are often one of the biggest assets one can pass to an heir, and there can be costly tax-related mistakes if not done correctly.

Sold inherited property and tax liability

Losing a loved one in Michigan is difficult, and figuring out what to do with inherited property can add to stress levels. If the inheritance included a house or other physical property, the beneficiary may choose to sell it. While there should not be an inheritance tax associated with inheriting the house, there are tax liabilities if the sale resulted in a profit for the seller.

Estate fraud and probate

People have many responsibilities and concerns when it comes to the probate process, whether they are unsure of their duties as an executor or experience problems with other beneficiaries, such as disagreements over how a loved one decided to distribute their assets after their death. However, estate fraud is a serious problem and the Bingham Legal Group knows just how difficult these issues can be for families and individuals to work through.

Holiday celebrations and estate disputes

On this blog, we have covered some of the reasons why disputes over an estate arise. Sadly, these disagreements have the capability to tear a family apart and can be especially tough to deal with during certain times of year, such as the holidays when family members join to celebrate. Bingham Legal Group knows that these matters can be tough for people on all sides of the dispute, whether you are an executor facing false allegations of neglecting your fiduciary duties or you are a beneficiary and believe you have been wronged. Either way, you may have to confront strong emotions and stress as you review the situation and this can be even more challenging during the holidays.

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