Bill Text: MI HB5638 | 2015-2016 | 98th Legislature | Introduced
Bill Title: Probate; wills and estates; exempt property; allow decedent to exclude adult child by written instrument. Amends sec. 2404 of 1998 PA 386 (MCL 700.2404).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-12-06 - Referred To Second Reading [HB5638 Detail]
Download: Michigan-2015-HB5638-Introduced.html
HOUSE BILL No. 5638
May 11, 2016, Introduced by Rep. Lucido and referred to the Committee on Judiciary.
A bill to amend 1998 PA 386, entitled
"Estates and protected individuals code,"
by amending section 2404 (MCL 700.2404), as amended by 2000 PA 177.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2404. (1) The decedent's surviving spouse is also
entitled to household furniture, automobiles, furnishings,
appliances, and personal effects from the estate up to a value not
to exceed $10,000.00 more than the amount of any security interests
to
which the property is subject. If Except as otherwise provided
in subsection (4), if there is no surviving spouse, the decedent's
children are entitled jointly to the same value.
(2)
If Except as otherwise
provided in subsection (4), if
encumbered assets are selected and the value in excess of security
interests, plus that of other exempt property, is less than
$10,000.00, or if there is not $10,000.00 worth of exempt property
in the estate, the spouse or children are entitled to other assets
of the estate, if any, to the extent necessary to make up the
$10,000.00 value. Rights to exempt property and assets needed to
make up a deficiency of exempt property have priority over all
claims against the estate, except that the right to assets to make
up a deficiency of exempt property abates as necessary to permit
payment of all of the following in the following order:
(a) Administration costs and expenses.
(b) Reasonable funeral and burial expenses.
(c) Homestead allowance.
(d) Family allowance.
(3) The rights under this section are in addition to a benefit
or share passing to the surviving spouse or children by the
decedent's will, unless otherwise provided, by intestate
succession,
or by elective share. The $10,000.00 amount expressed
described
in this section shall must be
adjusted as provided in
section 1210.
(4) A decedent by will or other signed writing may expressly
exclude or limit the right of a child who is not a minor or
dependent child to make a claim that the child is otherwise
entitled to under this section. The exclusion or limitation
described in this subsection must be expressly stated by the
decedent, and must specifically reference the allowance described
in this section in a manner sufficient to express the decedent's
intent. An exclusion or limitation stated by a decedent by will
under section 2101, without additional language specifically
stating an intent to exclude or limit a right provided under this
section, is not considered sufficient language to exclude or limit
a right provided in this section.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.
