We have focused our efforts on working in this unique area of Real Estate because we feel it allows us to not only perform a much-needed service to people in times of great stress, but also because it is a place where we can differentiate our level of expertise from others who are not as focused in this niche. We’ve taken the time to and made the investment to properly prepare to assist you. If you’d like some general information, please review our list of Frequently Asked Probate Questions. We are ready to start working with you today and ease any unnecessary burdens quickly. WE’RE READY TO HELP YOU IMMEDIATELY.
The Personal Representative, also known as the Executor (if the personal representative is a male) or Executrix (if the personal representative is a female) is the person who is designated by the will of person who has died to administer their estate and handle the distribution of its assets to those entities designated by the provisions of the will. Unless there is some valid objection or the person designated refuses to serve in that capacity, the probate judge will appoint the person who is named in the will to serve as the personal representative.
It is the duty of the personal representative to ensure that the deceased person’s wishes, as expressed in the will, are carried out. Some of the tasks that may be required to be performed by the personal representative include determining and protecting the specific assets of the estate; obtaining information (name and location) in regard to all beneficiaries named in the will and any other potential heirs; collecting and arranging for payment of the debts (if any) of the estate; approving or contesting any claims made by creditors; making sure estate taxes are calculated and paid, filing any required forms, and assisting the attorney for the estate (often selected by the personal representative if not specified in the will).
How long does probate usually take to complete?
The duration of the probate process is subject to lots of different variables, but a general rule of thumb is approximately six months. However, you should be aware that it can and frequently does takes far longer. Some of the matters that can delay the completion of the process (among others) can include:
- Problems in locating the heirs and beneficiaries
- A contest of the will (disputing the validity of the document) by the heirs or beneficiaries
- Claims or liens against the estate that remain unsettled
- Real estate or other property that cannot be sold for some reason
- Failure to properly notify one or more creditors during the claim period
- Dissatisfaction regarding the actions of the personal representative by the heirs or beneficiaries
The complexity of the task and these myriad of possible delaying factors make it all the more imperative that a well-organized and meticulous personal representative be selected who can effectively manage the process and reduce the chances of complications and delays.
WE CAN ABSOLUTELY HELP MAKE THIS TOUGH TASK FAR LESS STRESSFUL !!!
Be aware that no one should ever tell you that being an executor or personal representative can truly be stress-free because decisions will indeed have to be made. As an experienced Real Estate Professional, we will make sure that you are always well-informed in regard to these decisions – especially as they pertain to real estate. We will also help you with some of the difficult conversations you may have to have with family members and other heirs. If you haven’t yet secured the services of a competent probate attorney, we can help you choose one whose good work we know and are comfortable recommending.
We’ll help you at every step along the way and do everything possible to steer you clear of the minefields. Of course, you’ll still have to make some interesting choices, but having us as an advisor by your side makes the task significantly less lonely.
Here’s where we really shine. First, we will help you determine specifically what the most critical objective or objectives are in regard to the real estate that’s involved in the probate.OK … SO WHAT ABOUT SELLING THE REAL ESTATE THAT’S INCLUDED IN THIS PROBATE?
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Do you need to dispose of the property as quickly as possible?
If so, we can provide immediate cash buyers from our list of qualified investors. Often, this is vital to allow a surviving spouse to move into a more suitable location, handle medical or other bills or simply get asset funds into the hands of the heirs quickly. Our investors can often make offers within 24 hours on almost any property and can close really quickly. Sometimes, funds can even be advanced prior to closing. Of course, timelines are frequently subject to the courts and filing timelines which are beyond our control, but our efforts minimize these delays whenever possible.
Do you need to maximize the selling price to provide the greatest cash benefit to the heirs / stakeholders?
When maximum revenue is the focus, we’ll make certain the property is not only listed properly but marketed aggressively and intelligently to assure maximum exposure. We’ll make sure you know exactly what the property is worth if you are willing to wait for the right buyer and we’ll help you determine any possible repairs (if any) that might add more to the final selling price than their cost – in other words, the greatest bang for the buck. Be aware that all too often, ill-informed sellers spend far too much on repairs that do not even cover their cost in the final sale price. This is where our experience, preparation, and savvy marketing skills come into play.
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WHAT IF YOU ARE THE ATTORNEY?
We work especially well in these situations. Typically the attorney of record has one of two roles. They are either appointed to the task by the court or selected by the family or executor / personal advisor. If you’ve been court-appointed, then your role is usually focused strictly on the legal issues regarding any transactions and dispersal of assets. However, if you are retained by the family or the executor / personal representative, your role usually extends to include a more advisory capacity as well. In either case, we will at all times keep you well-informed about any aspect of the process in which we are involved – especially when it comes to fielding offers on the real estate.
In some cases, the family or executor / personal advisor will want ALL aspects of the probate to be handled completely by the attorney. In these cases, we’ll work with you as “the client” regarding the real estate, just as we would with the executor / personal advisor.
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