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What probate form do I use to close an estate in Michigan because the estate is insolvent? Further, when do I file the form?

Sarasota, FL |

I managed to recover a little more cash than the expenses for administration and burial. The claims that I expect for her trailer and car she had will be more than the remaining cash. My plan is to divide the remaining cash against any medical bills and this will make the estate insolvent. I live in Florida and the estate is in Michigan. Informal estate. I have to submit an inventory for payment of the inventory fee. The car has been turned into the lien holder, a bank, and they will send it to auction and then submit a claim. The trailer she lived in is in similar shape except I haven't contact the bank yet, but it is upside down as well.

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Attorney answers 4

Posted

I'm not sure if this question showed up in my view because you live in Florida or if you asked the question in the Florida probate section, but this questioned needs to be answered by a Michigan probate attorney. Probates are different in each state and furthermore, Florida doesn't have a DIY probate process like some other states. Good luck.

Asker

Posted

Thanks for the response. Michigan is very small estate friendly. I'll just keep reading MI estate code and see if I can find my answer. I've been doing a lot of reading on MI estates.

Posted

You will either need to contact an attorney in MI (you can repost your question under that jurisdiction) or Google the Michigan Estates and Protected Individuals Code, aka EPIC (enacted in 2000). Every state has their own probate code that you must follow. Good luck.

My answer is of a general nature and should not be construed to be legal advice nor creating an attorney-client relationship. Carol Johnson Law Firm, P.A. practices in the area of Wills, Trusts, and Estates, Disability - with a particular focus on providing Special Needs Trusts for disabled children and adults.

Asker

Posted

Thanks for responding.

Posted

Repost your question for Michigan.
AVVO has a lot of Michigan probate attorneys answering questions.

The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.

Posted

I am licensed in Michigan. My suggestion is that you hire a Michigan licensed attorney to help you through this. The Michigan Probate Code sets for specific classes of creditors who have priority in an insolvent estate. You simply cannot ask to close the informal administration of the estate when there are issues open (such as the disposition of the trailer). The Sworn Statement to close an informal probate contains a statement where you would swear that you have fully administered the estate, and paid or disposed of all claims. This is not the case, so you cannot file this statement yet. Even though Michigan does not require that you hire an attorney (as is the case in Florida), it is still wise to do so, or you may find that you have significant personal liability if you improperly administer the estate.

Asker

Posted

I appreciate your answer, but the problem with this estate is that it lacks funds. It has enough cash to pay burial expenses and that is about it. The trailer will not generate any cash into the estate. The lien holder will take possession and sell it at auction for less than the lien amount and send a bill to the estate. The estate will be insolvent when the burial expenses are paid. There will no cash remaining, only debt.

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