When your loved one’s will names you executor of their estate, you may assume the responsibility of administering their estate and winding up their financial affairs. If this is your first time administering an estate, you may wonder how long estate administration can take. How long does it take to settle an estate in Michigan?
Understanding the Executor’s Role
A decedent’s estate must go through a probate proceeding unless the decedent held all their assets in joint accounts, joint tenancies, or trusts. An executor has various duties and responsibilities when administering an estate in Michigan, including:
- Locating the decedent’s will and submitting it to probate
- Notifying heirs, beneficiaries, and creditors of the probate proceeding
- Locating, inventorying, appraising, and preserving estate assets
- Paying the estate’s creditors and estate administration expenses
- Filing tax returns and paying applicable estate taxes
- Keeping an accounting of transactions taken on behalf of the estate
- Representing the estate in litigation
- Distributing inheritances to beneficiaries and heirs
The various obligations that an executor must fulfill can affect the timeline of a probate proceeding.
Michigan’s Probate Timeline Overview
The timeline of a probate proceeding in Michigan will depend on whether an executor can elect between an informal and formal probate. An informal probate involves a faster and less complicated proceeding overseen by the probate court registrar, rather than a judge. Conversely, formal probate requires court supervision of the estate administration process, which can extend the duration of a case.
Although Michigan does not require an executor to begin a probate proceeding within a specific period after a decedent’s death, executors should file for probate promptly after the decedent’s death to reduce the risk of potential complications and make the process more efficient.
Creditors typically have four months to file claims against an estate after receiving notice of the probate proceeding. However, a creditor may have a longer time when an executor fails to provide proper notice of probate.
Most estates in Michigan take several months to complete, although cases involving a sizeable estate or complex assets can take longer.
Factors That Can Delay the Settlement of the Estate
Some of the factors that can lengthen the estate administration process include:
- Will contests or legal challenges filed by beneficiaries/heirs
- Difficulty locating the will or estate assets
- Significant debts or tax liabilities owed by the estate
- Necessary sales of real estate or business interests
Certain significant transactions may require the executor to seek court approval, or the court may require the executor to file periodic accountings, which can also slow down probate.
Consequences of Delay or Inaction
Executors have a fiduciary duty to act in the best interests of the estate and its beneficiaries. As a result, executors may face legal consequences for failing to exercise diligence or delaying the progress of the case without justification, including the possibility of the court removing the executor from their role or petitions by heirs/beneficiaries to compel specific actions by the executor.
Tips for Executors to Stay on Track
Best practices for executors to follow to keep the probate process moving along include:
- Keeping detailed records of actions taken on behalf of the estate
- Regularly communicating with heirs/beneficiaries
- Organizing paperwork at the beginning of probate
- Following court deadlines carefully
Finally, hiring a probate attorney for legal guidance and support can help an executor complete the estate administration process as efficiently as possible.
Contact an Estate Administration Attorney Today
After a loved one passes away, hiring experienced legal counsel can help make the estate administration process more efficient. Contact Herbert Machnik Law Firm today for an initial consultation with an estate administration lawyer to learn more about the timeline of settling an estate in Michigan.
