Wayne Michigan Sworn Closing Statement is a legal document that provides a detailed account and settlement of the financial aspects of a deceased person's estate. It is an essential part of the probate process and serves to ensure that the assets and debts of the decedent are properly accounted for and distributed. In a Sworn Closing Statement, the personal representative appointed by the court, also known as the executor or administrator, presents a summary of all the assets, debts, expenses, and distributions made from the estate. This document requires the personal representative to accurately report the financial transactions and provide supporting documents for verification. Summary Proceeding, also known as summary administration, is a simplified probate process available for estates with limited assets. It is an expedited method to settle small estates without the need for a full probate administration. This proceeding is typically initiated by filing a petition with the probate court, along with supporting documentation of the estate's value. The court may require the filing of a Sworn Closing Statement in summary proceedings too. Small Estates refer to estates with a limited value, determined by statutory rules specific to each state. In Michigan, the threshold for a small estate is currently set at $15,000 or less, excluding the value of a deceased person's automobile. The small estate process allows for a simplified probate procedure, which can sometimes involve the use of a Sworn Closing Statement. Different types of Wayne Michigan Sworn Closing Statements may include: 1. Sworn Closing Statement for Decedent's Estate: This is the most common type of Sworn Closing Statement and is used to settle the estate of a deceased person in the regular probate process. 2. Sworn Closing Statement for Summary Proceeding: In cases where a summary proceeding is initiated to settle a small estate, a specific Sworn Closing Statement may be required to provide a summary of the estate's financial transactions. 3. Sworn Closing Statement for Small Estates: When the value of the estate falls below the small estate threshold, a Sworn Closing Statement tailored for small estates is used to present the final accounting and distribution of assets. In conclusion, a Wayne Michigan Sworn Closing Statement serves as a crucial document in the probate process, summarizing the financial aspects of a deceased person's estate. Whether it is for a regular probate, summary proceeding, or small estate, this document plays a vital role in ensuring a transparent and accurate settlement of the deceased person's affairs.