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Why do I Need to go to probate if we have a Will?
October 8, 2010
Filed under: Estate Planning,Will — Christopher J. Berry @ 9:21 pm
Many times we run into the question of “why do we have to go to probate in Michigan, if my mother or father had a last will and testament? Doesn’t a will avoid probate in Michigan?” The answer is no, a last will and testament is your ticket to the probate courts.
A big myth is that if you have a will, it avoids probate. In reality, typically a will based estate plan is your ticket to the probate court. The will gives instructions to the probate court on how to administer an estate, versus dying intestate (without a will).
There are four main ways assets transfer out of a decedent’s name at death. First, joint ownership, second beneficiary designations, third through trust, and fourth probate. When an asset lands in probate there is two options. Either testate, meaning with a will, or intestate, meaning without a will.
Remember, a will based estate plan does not avoid probate, it is your ticket to the probate courts. A will gives instructions to the probate court on how to administer your estate.