Understand Probate Court Fees with the Inventory Fee Calculator
Navigating probate court can be confusing, especially understanding fees. We’re here to help you understand the process of calculating Michigan probate court inventory fees, and provide a link to a calculator to determine the Inventory Fee. Follow this Calculator Link.
What is the Inventory Fee?
Michigan law (MCL 600.871(1)) requires probate courts to collect an inventory fee on the value of all assets in a deceased person's estate. This fee is considered an expense of estate administration and must be paid before the estate can be closed, or within one year of filing the probate proceeding.
How to Use the Inventory Fee Calculator:
Calculating the inventory fee is straightforward:
- Determine the Total Inventory Value: This value comes from your completed Petition and Order for Assignment or Inventory.
2. Enter the Value into the Calculator: Input the total inventory value into the Michigan Inventory Fee Calculator. The calculator will automatically compute the inventory fee.
Factors Influencing Inventory Fee Calculation
- Date of Death Matters: The calculation of the inventory fee is affected by the decedent's date of death.
- On or after March 28, 2013: Liens on real estate can be deducted from the value of that specific property. However, no parcel can have a value less than zero, and any excess lien amount cannot be applied to other estate assets.
- Before March 28, 2013: The inventory fee is calculated based on the gross estate value (i.e., before any deductions for liens).
- Lien Deductions: Remember that liens can only be deducted from the value of real property.
MCL 600.871(1) provides: “In all decedents’ estates in which proceedings are instituted for probate, the probate court shall charge and collect the following fees as an expense of administration on the value of all assets, as of the date of death of the decedent, as follows:
- In an estate of value of less than $1,000.00, $5.00 plus 1% of the amount over $500.00.
- In an estate of value of $1,000.00 or more, but less than $3,000.00, $25.00.
- In an estate of value of $3,000.00 or more, but less than $10,000.00, $25.00 plus 5/8 of 1% of the amount over $3,000.00.
- In an estate of value of $10,000.00 or more, but less than $25,000.00, $68.75 plus 1/2 of 1% of the amount over $10,000.00.
- In an estate of value of $25,000.00 or more, but less than $50,000.00, $143.75 plus 3/8 of 1% of the amount over $25,000.00.
- In an estate of value of $50,000.00 or more, but less than $100,000.00, $237.50 plus 1/4 of 1% of the amount over $50,000.00.
- In an estate of value of $100,000.00 or more, but less than $500,000.00, $362.50 plus 1/8 of 1% of the amount over $100,000.00.
- For each additional $100,000.00 value, or larger fraction thereof, over $500,000.00, $62.50.
- For each additional $100,000.00 value, or larger fraction thereof, over $1,000,000.00, $31.25.”
Need Legal Advice?
While it's possible to handle probate matters on your own, it's often worthwhile to consult with a probate lawyer in Ann Arbor first. Probate proceedings can be complex, and a knowledgeable attorney can help you understand your rights and protect your interests.
