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Generally, property exceeding $15,000 has to go through probate, but the limit could change depending on the year the property owner died, as the dollar limit tends to fluctuate yearly. In 2023, property valued at $27,000 or less is considered a small estate.

If a dispute over the will or appointing a personal representative is likely, formal proceedings give more oversight and finality than informal ones. Formal proceedings are done in front of a probate court judge. You may want to talk to a lawyer if the administration of the estate might be contested.

Here are a few common instances where assets do not require probate in the State of Michigan: Assets owned under ?joint tenancy.? Beneficiary designation assets (i.e. retirement accounts with a listed beneficiary) When the decedent has assets named within a trust.

Summary of Michigan Probate Laws Michigan Probate Laws require a decedent's assets go through Probate if the assets were held solely in their name. Assets usually don't need to go through Probate if the assets that are jointly owned, the assets have a beneficiary designation, or the assets are held in a Living Trust.

The probate process in Michigan typically involves several key steps: Filing a petition with the Probate Court: If there's a will, the executor should file a petition with the appropriate Michigan probate court. If there's no will, an interested party ? usually a close family member ? can file the petition.

The personal representative must: Prepare an Inventory. Pay the Inventory fee. Give notice to known creditors and publish a notice to unknown creditors. Pay the taxes and file the final tax return for the decedent. Pay the bills of the estate and claims against the estate. Distribute the remaining assets as appropriate, and.