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May 21, 2006

Annual Probate and Estate Planning Insitute

B & N lawyer, Ann Byrne, attended the 46th Annual Probate and Estate Planning Institute held at the Grand Traverse Resort from May 18 through 20, 2006. The conference addtessed topics including special needs trusts, ethics update, succession planning for closely-held companies, business valuation, trustee removal, trust administration, fiduciary fees, incapacitated clients, and disaster planning.

"The conference was interesting and informative. As is always the case with ICLE seminars, I learned several things that I will implement in my practice," Ann said. She completed the Probate and Estate Planning Certificate Program in 2005.

April 15, 2004

Who takes if there's no will?

Did you ever wonder what would happen if you died without a will? If that should happen to you, the laws of intestate succession will determine who receives your estate.

What are the laws of intestate succession? They are Michigan statutes. In Michigan, the Estates and Protected Individuals Code is known as EPIC and part of EPIC contains the laws governing intestate succession. Click here if you want to read them.

Not interested in reading statutes? The Wayne County Probate Court has a great website that can show you what happens if you die without a will. To take a look at the chart, click on "Information" in the blue navigator bar under the header. Click on the "Frequently Asked Questions" link and then scroll to a link called "Michigan Intestate Succession under EPIC." Click on it and the chart will appear. Take a look at it and you can see who takes.

If you have specific ideas on who you want to get your property after you die and your wishes don't match the chart exactly, then meet with your lawyer and get your will done.

Note: Updated on April 15, 2006.

March 27, 2004

Introduction to Estate Administration

After the death of a loved one, it is often necessary to administer the deceased person's estate. Estate administration is the process of paying the deceased person's bills, transferring the deceased person's property to others, and distributing gifts to the intended recipients. Typically this process is handled through the probate court if property is transferred under the deceased person's will or under the terms of a trust if there is no property to transfer under the will.

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