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February 12, 2018, 01:30 PM
9mmnut
Paging Jallen
We are retired and 78 years of age. We have a will. What should I do to avoid a long and costly settling of our estate? We live in Michigan.
February 12, 2018, 01:39 PM
JALLEN
It is impossible to give careful, prudent advice on such little info, and I am no longer a lawyer anywhere, never in Michigan so I can’t give legal advice.

That said, get with a local lawyer who can give competent advice, likely along the lines of putting assets in trusts.

Only with all the details of assets, liabilities, family, state laws, etc can one avoid cures which may be worse than the disease.

It may be that given your property situation, no probate is necessary.



Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown
February 12, 2018, 01:49 PM
tatortodd
9mmnut, you have mail


Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.
February 12, 2018, 01:56 PM
old rugged cross
i am not a lawyer or play one on tv. But I always liked the notion in an estate situation. If anyone contests the will, they are out of it. Completely, period!



"Practice like you want to play in the game"
February 12, 2018, 02:23 PM
9mmnut
Thanks. Not a huge estate just house and 401k investment and checking and saving accounts. Would hate to see kids stuck with a large probate bill and long waiting period.
February 12, 2018, 02:38 PM
JALLEN
quote:
Originally posted by 9mmnut:
Thanks. Not a huge estate just house and 401k investment and checking and saving accounts. Would hate to see kids stuck with a large probate bill and long waiting period.


Check with the 401k holder to see what they require to transfer upon death of the named account holder. In some states you name a beneficiary in the a count, and that does it.

In most states, real proeprty required probate. A trust usually solves that. Lawyers will know.



Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown