Michigan Summary Administration Package for Small Estates
Definition and meaning
The Michigan Summary Administration Package for Small Estates is a collection of legal forms designed for the efficient and streamlined handling of smaller estates without the need for formal probate proceedings. This package is intended to simplify the process for personal representatives managing estates that meet specific value thresholds and criteria dictated by Michigan law.
How to complete a form
Completing the forms in the Michigan Summary Administration Package involves the following steps:
- Download the package from U.S. Legal Forms and review each document included.
- Fill in the required information accurately, including details about the decedent and the personal representative.
- Ensure all signatures are obtained where necessary, particularly from interested parties.
- Pay any required filing fees, such as the $100 fee associated with the initial application.
- Submit the forms to the Michigan probate court in the appropriate county.
Who should use this form
This package is suitable for individuals acting as personal representatives for estates that do not exceed the specified monetary thresholds. Typically, this includes surviving spouses, adult children, or other heirs of a decedent who seek to manage a small estate without undergoing formal probate processes.
Key components of the form
The Michigan Summary Administration Package includes the following essential forms:
- Application for Informal Probate and/or Appointment of Personal Representative (MI-PC-557): Initiates the probate process.
- Petition for Probate and/or Appointment of Personal Representative (MI-PC-558): Provides necessary court details for informal probate.
- Inventory (MI-PC-577): Lists all property owned by the decedent at the time of death.
- Closing Statement, Summary Proceeding Small Estates (MI-PC-590): Used to officially close the estate.
Common mistakes to avoid when using this form
When utilizing the Michigan Summary Administration Package, consider avoiding these common pitfalls:
- Failing to complete all required fields on each form, which could delay processing.
- Neglecting to gather consent from interested parties, which is necessary for informal proceedings.
- Submitting forms without proper signatures or missing documents, leading to denial of the application.
- Ignoring to pay the requisite fees, as non-payment may lead to dismissal of the case.
What documents you may need alongside this one
In addition to the forms within the Michigan Summary Administration Package, you may need to gather the following documents:
- A certified copy of the death certificate of the decedent.
- The original will, if applicable.
- Records showing the value of estate assets.
- Identification for the personal representative, including proof of relationship to the decedent.
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FAQ
Small estate administration is a simplified court procedure that is an alternative to the longer probate process.This procedure asks the court to allow you to divide and distribute their property to people who either have a legal right to inherit or listed in the testator's will.
Whether an estate is small depends on the value of the property in it. The dollar limit can change each year. If a person dies in 2020, an estate must be valued at $24,000 or less to be small. If a person dies in 2019 or 2018, an estate must be valued at $23,000 or less.
Formal Probate Most Michigan probate cases can be wrapped up within seven months to a year after the personal representative is appointed. After notice of the probate is given, creditors have four months to file a claim.
In Michigan you can use an Affidavit if the estate does not include real property and the value of the entire estate, less liens and encumbrances, is less than $15,000. There is a 28-day waiting period.
In order to qualify for a simplified process, an estate must be valued at or below $24,000 for a decedent who died in 2020. This number goes up every few years. To learn more about the simplified processes, read the article An Overview of Small Estate Processes.
In most states, however, there is the option to use a small estate affidavit when the assets of the estate are under a certain dollar amount, which varies by state. An attorney is not required to file a small estate affidavit, although it may be helpful to consult with one prior to filing the small estate affidavit.