In Ferndale, Michigan, probate is the procedure in which a court validates or voids a will.
As part of the probate procedure, the court in Ferndale, Michigan will decide the validity of the will, inventory the decedent's assets and debts, then, assuming everything is deemed to be in order, distribute the estate according to the will.
Wills frequently name a person as the executor of the estate. If not, the court in Ferndale, Michigan will name one. This is most often the adult individual who stands to inherit the most funds or property from the will.
The general duty of the executor is to serve as the living incarnation of the estate. Their job is to commence probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will typically be the person who stands to inherit the most from the will, as he or she has an incentive to make every effort to avoid delay.
Duties of the Executor in Ferndale, Michigan
There are quite a few things that an executor is accountable for. At the outset, they are obligated to file the probate action with the appropriate court. No progress, let alone any final disposition of the estate, can be made until this happens.
Additionally, it's the executor's job to notify all affected parties that the person who made the will has died. "Interested parties" are usually people who are named in the will, or who would inherit the estate if the decedent had died without a will.
The executor will also have to collect and make accessible a list of all of the decedent's debts and assets, as well as a list of those who stand to inherit from the decedent.
As the representative of the estate, the executor has to take charge of the probate process, filing the proper court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is done, they'll probably find it to be worth the time and expense.
How Can A Ferndale, Michigan Lawyer Help?
Because of the difficulties involved in probate, it would be smart to hire a reliable Ferndale, Michigan probate lawyer, especially if you are the executor of an estate and unsure how to proceed.