If you’re handling the administration of a decedent’s estate in Michigan, understanding inventory fees is crucial.
Under MCL 600.871(1), probate courts are required to assess an inventory fee based on the estate's value as of the decedent’s date of death. The good news? For decedents with a date of death on or after March 28, 2013, certain deductions for real estate liens may apply.
Here’s a breakdown of the fees:
- Estates under $1,000: $5.00 plus 1% of the amount over $500.
- Estates between $1,000 and $3,000: $25.00.
- Estates $3,000 and above: Fees scale incrementally, based on the estate’s value.
Need help? Consult with a probate lawyer in Ann Arbor to ensure compliance and ease the process. Learn more and calculate your fees here..
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