When a loved one dies, property and assets must go through administration if the property is owned in only that person’s name. A family without a trust, joint owners, or beneficiaries may need to distribute estate assets under the watch of the probate court in order to ensure all actions are carried out according to the terms of the will.
Understanding Michigan Estate and Trust Administration
If you have implemented a trust-based plan, Malicoat Law can provide various levels of trust administration services in Michigan. We can help navigate your loved one through the Michigan trust administration while adhering to your instructions outlined in the estate plan. Our Midland law firm can assist your trusted appointees, such as successor trustees and Personal Representatives, in understanding their duties and guiding them in decisions.
We can assist with all aspects of probate and trust administration. Our law firm can assist you with a variety of trusts, including living trusts in Michigan, in addition to distributing assets according to your will. We can ensure that an estate will be administered according to the law and to a loved one’s final wishes.
Understanding the Revocable Trust Administration Process in Michigan
A revocable trust, also known as a living trust, can help simplify your estate’s transition. This type of trust can be an option for avoiding the probate process.
Revocable living trusts ensure that your assets are distributed according to the terms of the trust, avoiding guardianship during your lifetime and probate at your death. Still, the process may require some assistance in administering them.
When a revocable trust is established, a trustee is named to manage the assets in the trust for the grantor’s benefit during their lifetime. This type of trust allows the grantor to change the trust after it is set up and even permits the grantor to eliminate it. Alternatively, an irrevocable trust cannot be altered once created, which offers less flexibility.
Your Estate and Trust Administration Attorney in Michigan
Our Midland, MI law office will provide sound legal advice to guide you, or a loved one through the Michigan probate and estate administration process. In the event of a loved one’s death, our probate and estate administration attorneys will facilitate the transition of assets quickly and efficiently.
Malicoat Law is here to help you and your loved ones understand estate planning, elder law, business planning, probate, and trust administration. Our Midland law firm welcomes the opportunity to consult with new clients in Midland and surrounding Michigan areas to learn more about how we can help meet your legal needs.