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Michigan Application for Appointment of Successor Personal...

Successor Personal Representative

Name: Michigan Application for Appointment of Successor Personal Representative (Estate Not Closed)
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.84 (208 reviews)

Category:

Michigan Family Law - Statewide - Guardianships

State:

Michigan

Control #:

MI-PC-620

Format:

Instant download

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Description

This is an official document from the Michigan State Court Administration Office, and it complies with all applicable state and federal codes and statutes. USLF updates all state and federal forms as is required by state and federal statutes and law.

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FAQ

If the estate is still open, you can reopen the estate's bank account and make the deposit.If the estate is closed and the bank account is also closed, speak with a representative of the bank to determine whether the account can be reopened without an order of the court. Review the final order for distribution.

You can administer an estate even if the deceased died without a will or failed to specify an executor. If your relationship to the deceased doesn't make you the probate court's default choice for administrator, you'll need to get permission from the relatives ahead of you in the priority order.

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.

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.

Q: How Long Does an Executor Have to Distribute Assets From a Will? A: Dear Waiting: In most states, a will must be executed within three years of a person's death.

An executor acts until the estate administration is completed or if they resign, die or are removed for cause.

No. An executor of a will cannot take everything unless they are the will's sole beneficiary. An executor is a fiduciary to the estate beneficiaries, not necessarily a beneficiary. Serving as an executor only entitles someone to receive an executor fee.

Determine Your Priority for Appointment. Receive Written Waivers From Other Candidates. Contact Court in the County Where Deceased Resided. File the Petition for Administration. Attend the Probate Hearing. Secure a Probate Bond.

Executors have also traditionally set fees as a percentage of the overall estate value. So for example, a $600K estate which required 850 hours of work might generate $22K in executor fees (see calculator below). The executor may pay himself or herself this compensation as earned, without prior court approval.

Successor Personal Representative

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FAQ

Can an estate account be reopened?

Who becomes executor of estate without a will?

What are Michigan's requirements for a small estate affidavit?

How long does an executor have to settle an estate in Michigan?

How long does an executor have to distribute assets?

Does executor of estate expire?

Can an executor take everything?

How do you get appointed as an estate representative?

How much does an executor of an estate get paid in Michigan?

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