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.
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.
You may not want to take on the considerable responsibility of agreeing to be the executor of your parent's estate in Michigan. However, once your parent passes away, the person chosen could prove less than satisfactory.
It may bring peace of mind to heirs to know that they will not be saddled with their parent's debt in Michigan. However, someone who is looking forward to inheriting a home that was promised in the will could discover that the transaction is not straightforward.
The personal representative of your deceased spouse is responsible for administering the Michigan estate. However, there are many assets that may pass on to you that do not require the PR's involvement.
Unfortunately, all sorts of problems can arise with regard to a person's estate after they pass away, such as disagreements with the way in which assets are distributed or tax issues. Sometimes, a will contest may arise over allegations that an executor breached his or her fiduciary duties. The Bingham Legal Group knows how hard this can be for executors, beneficiaries, and entire families in Michigan. When these disagreements arise, it is vital to carefully go over the ins and outs of the situation as you move forward.
When it comes to estate matters, the challenges that can arise take many forms. Sometimes, families find themselves in the middle of a heated dispute following the loss of their loved one due to allegations that an executor breached his or her fiduciary duties. If you are a beneficiary who believes that an executor failed to distribute assets properly, you should immediately take steps to address the situation. Our law firm also recognizes that some executors in Detroit and across Michigan may also be falsely accused of breaching their fiduciary duties.
In Michigan, legal ownership of your property and assets must go through a process after your death to make sure that any unfinished business such as debt is taken care of, and your possessions are distributed to those who you have named. Your will can designate how you want your estate handled, but it does not typically sidestep probate. At the Bingham Legal Group PC, our estate planning attorneys understand what is involved, and we often provide answers to help people anticipate and plan for this eventuality.
You may assume that if you die without a will, your assets automatically go to your spouse and children. While there is some truth to this, Michigan has very specific rules for the distribution of your estate to your heirs, as well as definitions of who your heirs are. We at the Bingham Legal Group PC often provide legal information about state laws and inheritances.
Many people in Michigan may assume that probate is something to be avoided at all costs. By adding another person’s name to a property title or a bank account, they may be able to skip over that process. However, as Bankrate.com points out, there are dangers to sharing ownership of assets, particularly for people who are not spouses, even though the rights of survivorship can negate the need for a will or probate.