Grand Rapids and Kalamazoo Probate Attorneys

Kalamazoo and Grand Rapids probate lawyers with a firm grasp of estate law

The probate attorneys at Willis & Willis, PLC work with you to prepare your will for a smooth probate, and they guide executors through the probate administration process.

Estates in probate

When a person dies, the estate is submitted to the probate court. If there is a will, the probate court does the following:

• Confirms that the will is valid
• Oversees the administration of the estate by the executor

If there is no will—or the will is found invalid—the probate court often appoints an independent administrator, who serves the same function as an executor.

Probate assets

All assets of an estate that do not automatically transfer at death are subject to probate. But certain non-probate assets can bypass the probate process:

• Proceeds from life insurance policies
• IRA accounts
• 401(k) accounts
• Other tax deferred retirement plans

The estate planning law firm in Grand Rapids, Kalamazoo and Paw Paw of Willis & Willis, PLC will help you confirm that your non-probate assets have named beneficiaries, allowing the assets to avoid probate.

Duties of an executor

The executor is responsible for the administration of the probate estate:

• Taking inventory of the estate assets
• Having the assets appraised
• Collecting all debts owed to the estate
• Paying all debts owed by the estate
• Filing and paying all taxes
• Distributing assets to the beneficiaries

The executor owes fiduciary duties to all interested parties, and must act in the best interests of the estate. An executor who mismanages estate assets and causes the estate to lose value can be held liable for these actions. If you are appointed as an executor, Willis & Willis, PLC advises you in the fulfillment of your duties and represents you in the event of a conflict.

Preserving estate assets

An executor should seek opportunities to preserve assets for distribution. One of the most common means of asset preservation is the reduction of estate taxes:

• Considering whether to report certain expenses on the estate tax return or on the estate's income tax return
• Exploring income tax savings opportunities on the decedent's final return
• Deciding whether assets should be valued at the date of the decedent's death

Probate in Grand Rapids or Kalamazoo

Willis & Willis, PLC has the keen understanding of probate and tax laws that is required to guide an estate through probate and to effectively administer that estate. To get legal advice on probate administration from a lawyer in West Michigan, please contact the law firm of Willis & Willis, PLC toll free at 866-676-6190 or submit our online email form.