Article on Estate Settlement in Michigan

John H. Martin (Warner, Norcross & Judd LLP) recentlypublished an article entitled, ImprovingMichigan Estate Settlement, 29 T.M. Cooley L. Rev. 1 (2012).  Provided below is the introduction to hisarticle:

Theindictment is short and pointed: probate estate settlement is too expensive,too slow, and lacks privacy. This indictment covers probate in Michigan as wellas probate nationwide.

Michigantook a major step toward increasing public acceptance of estate-settlementprocedures when it adopted EPIC in 1998.  The informal proceduresunder EPIC permit both the validation of the decedent’s will and theappointment of a personal representative without the delay and expense of an adjudicatoryproceeding.  Intermediate settlement steps may take placefree from a court’s view; andeven closing an estate may be accomplished without adjudication.  Despite these advances, Michigan estate planners do notcommonly recommend probate procedures for estate settlement, and the public still does notembrace probate.  Nevertheless, if the legislature adopts a few modestchanges, then probate will become a viable, attractive option for estatesettlement.  Indeed, a few minimalalterations can produce a procedure that is comparable, or even preferable, tosettlement under a funded revocable trust.

ThisArticle proposes modest changes to EPIC that will improve the acceptance ofprobate in Michigan. But first, thisArticle describes the need for statutory modifications by reviewing briefly thepublic’s present attitude and the estate planners current preferences.  It then reviews and draws pertinent lessonsfrom summary-procedure statutes enacted by other states to facilitate thesettlement of smaller estates.  Againstthat backdrop, this Article then explains the need for and describes thespecific changes that will improve Michigan estate settlement.