6 Reasons to Plan
Probate allows the intrusion of the court, attorneys, and the public into your private and personal affairs.
2. PUBLIC KNOWLEDGE
Probate lays open your assets for all to see. Wills on file can be read by anyone — and Wills are read. Salesmen, newspaper reporters, and the morbidly curious read them, all seeking one way or another to take advantage of the openness required in the probate process.
Probate will take as little as 4 months to complete, but on average, you can count on 6-18 months.
Nationally, the average probate process takes from 5 to 10% of your estate — before your family or other beneficiaries see anything – and gives it to the courts, the attorneys, the state and other outside individuals who must be paid.
Appoint a loved one to serve as conservator long before the question of competence arises, your family thus avoiding the embarrassing and expensive probate proceeding to prove you are not able to manage your own affairs.
6. MICHIGAN ESTATE RECOVERY ACT
A recently passed Michigan law can put your probated estate in jeopardy of a Medicaid lien.
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