Do all wills go through probate in Michigan?

Do all wills go through probate in Michigan?

Probate Administration – This refers to the court supervised process of verifying and distributing someone’s assets after they pass away. This is also commonly referred to as estate administration. In Michigan, wills are typically required to go through probate with some exceptions (later discussed in the article).

What happens to my mother’s estate if I have no parents?

If no parents are alive, then the estate passes in equal shares to you and your siblings. If your mother was single with children, then the estate would pass in equal shares to the children.

Can a grandchild own a property in Michigan?

However in some states, such as Michigan, this would not be considered a transfer of ownership if the property passes to a child or grandchild, as long as the property isn’t being used for commercial purposes.

Can a parent transfer their property to a child?

A parent can transfer their property from themselves, to the parent and the child as joint-owners with rights of survivorship. This would typically be done by a quit-claim deed. One advantage of this is that the parent can remain living in the home, and enjoy ownership of the home while living.

What do I need to sell my deceased mother’s property?

So when mother died, father owned the property by operation of law. Father dies, and now you need to administer his estate. Petition the court for administration any of the siblings can petition to be the administrator. Property will pass in equal shares to the children (or children of a child who has already passed away).

Can a child claim the homestead exemption in Michigan?

The child owns the property automatically, by “operation of law,” upon the parent’s death. However, this can also act as a disadvantage for the child because the child cannot claim the Michigan Homestead Exemption, even though they have a future interest in the property and will own it 100% upon the parent’s death.

However in some states, such as Michigan, this would not be considered a transfer of ownership if the property passes to a child or grandchild, as long as the property isn’t being used for commercial purposes.

A parent can transfer their property from themselves, to the parent and the child as joint-owners with rights of survivorship. This would typically be done by a quit-claim deed. One advantage of this is that the parent can remain living in the home, and enjoy ownership of the home while living.

What happens to taxable value after transfer of ownership in Michigan?

In the year following a statutory transfer of ownership, that limitation is eliminated and the property’s taxable value is set at 50% of the property’s true cash value (i.e., the state equalized value). This is what is meant by “taxable value uncapping”. See Michigan Compiled Laws (MCL) 211.27a(3).