Structure
The Michigan Small Estate Affidavit form serves as a practical tool for individuals seeking to settle the affairs of a deceased person without the need for formal probate proceedings. Designed for estates with a total value of $24,000 or less, this form simplifies the process of transferring assets such as bank accounts, personal property, and other belongings. By using this affidavit, heirs can collect and distribute the decedent's assets efficiently and with minimal court involvement. Key requirements include the need for the decedent to have passed away at least 28 days prior, as well as the necessity for the affiant to be an eligible heir or beneficiary. Additionally, the affidavit must include specific information about the deceased, the estate's value, and any outstanding debts, ensuring transparency and accountability in the transfer process. Understanding the nuances of this form can significantly ease the burden on families during a challenging time, allowing them to focus on honoring their loved one's memory rather than navigating complex legal hurdles.
Form Example
Michigan Small Estate Affidavit
Pursuant to the Michigan Estates and Protected Individuals Code (EPIC), specifically the Michigan Small Estates Act, this document is a legal tool for claiming property from a deceased individual’s estate under a specified threshold. This affidavit is appropriate only if the value of the entire estate, less liens and encumbrances, does not exceed the amount established by Michigan law currently in effect.
Section 1: Decedent Information
Full Name of Decedent: ____________________________________
Date of Death: ____________________________________
Last known address: ____________________________________
County of Death: ____________________________________
Did the Decedent have a Will? (Yes/No): ____________________________________
Section 2: Affiant Information
Full Name of Affiant (Person completing this affidavit): ____________________________________
Relationship to Decedent: ____________________________________
Mailing Address: ____________________________________
Telephone Number: ____________________________________
E-mail Address (if any): ____________________________________
Section 3: Description of Property
List all assets you are claiming through this affidavit, including any personal property, bank accounts, and vehicles. Provide as much detail as possible to accurately identify each asset.
- Asset 1 Description: ____________________________________
- Asset 2 Description: ____________________________________
- Asset 3 Description: ____________________________________ (Add additional lines as necessary)
Section 4: Debts and Liens
List all known debts and liens against the estate. Describe each obligation, including the name of the creditor or claimant and the amount owed.
- Debt/Lien 1: ____________________________________
- Debt/Lien 2: ____________________________________
- Debt/Lien 3: ____________________________________ (Add additional lines as necessary)
Section 5: Declaration and Signature
I, the undersigned, declare under penalty of perjury under the laws of the State of Michigan that the information provided in this affidavit is true and correct to the best of my knowledge. I understand that this affidavit is executed to transfer legally the described property from the decedent’s estate to the affiant or as directed by law. I agree to indemnify and hold harmless any third parties who transfer assets to me in reliance upon this affidavit.
Signature of Affiant: ____________________________________
Date: ____________________________________
Section 6: Notary
This document was acknowledged before me on (date) _______________ by (name of affiant) _______________, who is personally known to me or who has produced identification in the form of _______________ as proof of identity.
Notary Public: ____________________________________
My Commission Expires: ____________________________________
This Michigan Small Estate Affidavit template is designed to streamline the process of claiming small estates in Michigan. The users must provide accurate and complete information to utilize this legal instrument effectively. It is recommended to consult with a legal professional to ensure compliance with current Michigan laws and regulations.
Document Properties
| Fact Name | Details |
|---|---|
| Eligibility Criteria | The Michigan Small Estate Affidavit can be used when the total value of the estate is $24,000 or less for an individual, or $48,000 or less for a couple. |
| Governing Law | This form is governed by Michigan Compiled Laws, specifically MCL 700.3981 to MCL 700.3987. |
| Purpose | The affidavit allows heirs to claim assets without going through formal probate, simplifying the process of estate settlement. |
| Filing Process | Heirs must complete the form, sign it in front of a notary, and present it to financial institutions or other entities holding the deceased's assets. |
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