Legal Question in Wills and Trusts in Florida

I am a stockholder in a Michigan S corporation. It is a small family corporation (2 siblings). The corporation owns timber land and some recreational land. I am a permanent resident of Florida. Upon my death, will my estate have to be probated in Michigan as well as FL ? ( I've read that a person who owns property in another state may have to go thru probate in that state-- but in this case, the corp owns the property) I know a TRUST would eliminate FL probate; would it also eliminate Michigan probate? Thank YOU!

Asked on 11/10/13, 8:06 am

3 Answers from Attorneys

David Slater David P. Slater, Esq.

No, since you do not own the real property in Mich.

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Answered on 11/10/13, 8:41 am

Just make sure you designate someone to inherit your stock in the corporation. You can do this now by adding a right of survivorship clause (e.g., JTWROS, Joint Tenancy with Right of Survivorship) to the stock. This will avoid probate, even in Florida without a Trust.

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Answered on 11/10/13, 9:27 am
Barry Stein De Cardenas, Freixas, Stein & Zachary

All good answers, but I would also suggest you speak to a Michigan attorney.

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Answered on 11/10/13, 10:42 am

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