Thumb of Michigan | glfarms - 2/17/2021 17:55
I am the executor of an estate that has land in a LLC that gets transferred to his children when he passed. It was stated in both his will and the LLC operating agreement that upon his passing the owners of the LLC become his children. He also has a CD that has no one listed as "payable upon death" so is considered a probate asset. The lawyer that is in charge of his will charges different fees according to if an asset is a probate asset vs a non probate asset. My question is if the LLC should be considered a probate asset or a non probate asset. My second question is what % is the fee going rate to settle the estate.
Answer to second question, as much as possible. |