Michigan’s Petition for Assignment of Small Estates
Probate proceedings can be complex and small estates means that there can be limited room for error. In Michigan, there is a straightforward legal process to distribute assets from small estates, like Petition for Assignment and Small Estate Affidavits. In this post, the probate attorneys of Thompson Legal will explore Michigan’s Petition for Assignment and provide legal insights into the process.
Please note that this post is not exhaustive, and every situation is unique. In the event that you have questions about the specifics of your case, it’s advisable to speak with an attorney. Contact Thompson Legal to schedule a discovery call with a Michigan probate attorney.
Understanding MCL 700.3982
Michigan's Estates and Protected Individuals Code (EPIC) includes MCL 700.3982. This statute is intended to simplify the process of distributing assets from small estates. It offers a streamlined alternative to the traditional probate process for estates of modest value, making it more accessible and cost-effective.
Under MCL 700.3982, the following conditions must be met for the Petition for Assignment:
Small Estate Value: The gross value of the estate, excluding liens and encumbrances, should not exceed $15,000.
Please note this value is subject to increases with the cost-of-living allowances and increased to $25,000 as of 2022 (Year (wcpc.us))
No Personal Representative: There should be no personal representative appointed for the estate.
Eligible Claimants: The Petition for Assignment must be submitted by eligible claimants including surviving spouses, children, and other qualified dependents.
Petition for Assignment
To initiate a Petition for Assignment, you will need to complete the Petition for Assignment form, also known as Michigan Court Form PC 556. You can access this form on the official Michigan Courts website here (PC 556m, Petition for Assignment (michigan.gov)).
Here's an overview of how to fill out the form:
Caption: Start by providing the court's name, county, and the case number, if available.
Petitioner Information: Include the petitioner's name, address, and phone number.
Decedent Information: Enter the decedent's name, date of birth, date of death, and county of residence.
Estate Information: Specify the estimated value of the estate, excluding liens and encumbrances. Confirm whether the estate exceeds $15,000.
Eligible Claimants: List the names and relationships of eligible claimants (surviving spouse, children, etc.).
Distribution Plan: Explain how the estate assets will be distributed among the eligible claimants. Attach a detailed breakdown if necessary.
Signature: Sign the form under penalty of perjury, and file with the appropriate probate court.
Submitting the Petition for Assignment
Once the Petition for Assignment is completed, it should be filed with the probate court in the county where the decedent resided. The court will review the petition to ensure it meets the requirements of MCL 700.3982. After the petition is processed, it may be set for hearing where all interested parties must be notified.
If approved, the court will issue an order to distribute the assets according to the specified distribution plan. This process is generally more efficient and cost-effective than the traditional probate administration, making it an attractive option for small estates.
Conclusion
Navigating probate can be challenging, but Michigan's MCL 700.3982, along with the Petition for Assignment form (PC 556), offers a simplified path for distributing assets from small estates. Always consider seeking legal advice or consulting with a probate attorney to ensure compliance with Michigan probate laws and to facilitate a smooth estate distribution process. If you have questions about a Petition for Assignment, contact Thompson Legal to schedule a discovery call with an experienced Michigan probate lawyer.
This blog is for informational purposes only. It is not intended as legal advice. In the event you would like to speak with an expereinced probate attorney about your case Contact Us at (734) 743-1646 to schedule a consultation.
