Does the Probate Court or the Government Take Away My Money At My Death?

Clients often tell us that the Probate Court or the Government will take away their money during the probate process. This is absolutely untrue. The Probate Court charges a “user” fee for the services it provides. If a client fails to provide a beneficiary for their estate and there are no legal heirs to inherit from that client, it is possible that a person’s wealth could escheat to the State of Michigan. However, this happens very rarely. If a client’s estate is very large (currently over $3.5 million) the federal government may tax the excess over $3.5 million at 45%. You should discuss your concerns and details about probate with a trusted legal advisor.