It’s an unfortunate truth that as people age, health and cognitive faculties deteriorate. Michigan residents who select a power of attorney in their will can ensure their estate and loved ones are cared for if this eventuality occurs. At the Bingham Legal Group, PC we often help clients petition the court to establish a guardian or conservator in the event there is no designated power of attorney.
The probate process can be challenging for a multitude of reasons. First of all, many people in Detroit and across the entire state of Michigan struggle with overwhelming emotional pain following their loved one's death. Aside from emotional concerns, there are many other issues that can arise which can hold up the probate process. For example, a bitter and lengthy dispute may interfere with the way in which an estate is handled. These disputes can sometimes lead to litigation, which can be tough for various reasons, and there are other factors that can cause significant delays.
Some Detroit adults find themselves having to care for an old, ailing parent, with the other parent having passed away. However, sometimes if an adult child is granted responsibility for the parent’s finances, that child may try to take over the parent’s finances entirely even if the parent spells out different wishes or if another sibling wants a share of what would potentially be an inheritance. Forbes explains a number of reasons why such clashes may happen.
At Bingham Legal Group PC, we understand how difficult it is to lose a loved one. The emotional turmoil can only be worsened by finding out that there were some last-minute changes to the will that either lessened your share or cut you out completely. The good news is that in Michigan, there is a “safe haven” clause. This protects you from loss of provisions made for you in the will if there is probably cause when you contest it.
The probate process can be tricky for a number of reasons and those who have been placed in charge of an estate plan often have a number of responsibilities, some of which may seem overwhelming. In this post, we will look into the importance of correctly calculating the value of an estate, an issue that can be quite challenging in some instances. Some estates are relatively modest and others may involve a significant amount of assets, which can make valuation even more difficult. However, this is an essential aspect of the probate process.
Sometimes, the probate process moves forward smoothly, and an estate is distributed properly without any disagreement or hard feelings. In other circumstances, however, probate disputes arise and these can be very difficult for entire families. If you are an heir, it is important to make sure that you avoid key mistakes which could complicate your situation further. In this write-up, we will take a brief look at some of the different errors that heirs make and how they can be avoided. That said, we also understand how challenging it can be as an heir in Detroit, Michigan.
There are a wide variety of legal matters that may need to be taken into consideration when it comes to probate disputes, and no two are exactly identical. Some can be especially difficult from an emotional point of view, such as a dispute that pits family members against each other. Furthermore, there may be certain situations in which family members experience especially negative feelings with one another. For example, a stepchild may be upset with his or her stepparent who is in charge of an estate plan. Or, a stepparent may find themselves in the middle of a disagreement involving their stepchild.
We have covered some of the common reasons why probate disputes arise and the various challenges that people may face when they are in this position. However, it is important to realize that there are many other factors that can play a role in probate disputes. For example, a disagreement may arise over an estate plan's wording or the way in which an estate plan was set up. Sometimes, these disputes arise over someone's genuine disagreement or confusion, while others may be the result of someone intentionally trying to disrupt the process. Either way, it is important to be prepared, especially if you are in charge of the estate.
Many people in Michigan approach estate planning reluctantly. After all, it can be difficult to face the topic of one’s own mortality as well as other difficult decisions, such as those involving your kids. In this case, Forbes recommends anticipating the following tough questions to ensure you’re fully prepared for the process.
Probate disputes may occur because a beneficiary believes that the executor of an estate has failed to live up to their fiduciary duties, or for some other reason. It is, of course, a good idea to prevent probate disputes altogether, and we have gone into detail on some of the reasons why these disagreements arise within families. Sometimes, disputes surface no matter what, and when this happens it is essential to do what you can to work toward a positive outcome.