When named an executor of an estate, you are responsible for closing out the deceased's estate, taking care of any financial obligations and making sure the heirs receive their assets. In Michigan, state law refers to executors as personal representatives. When ready to accept your role as personal representative, your first step is filing an Acceptance of Appointment through a Michigan county court.
Because the probate process is complicated and involves understanding Michigan probate law, you should hire a lawyer to walk you through the process. After filing an Acceptance of Appointment, the next step is filing a Notice of Appointment and Duties of Personal Representative, informing the estate’s heirs and trustees that you are acting as executor. You must also inform any the estate’s creditors of the probate process through a Michigan newspaper, as well as in a written letter.
Closing out the Estate
Within 91 days of your appointment as executor, you must prepare an inventory of the estate’s assets and make it available to the beneficiaries. Additionally, you must pay any estate taxes due to the state of Michigan or federal government, collect any money owed and pay off any outstanding debts owed by the deceased. Once all debts are paid and collected, the personal representative distributes the assets to the beneficiaries. The probate court officially closes the estate once it receives documentation that you have paid all debts and distributed all assets.
Read More: Steps in Closing an Estate of a Descendant With Beneficiaries
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