Probate, Real Estate, and You

 

Probate, Real Estate, and You

How to Avoid the Biggest Mistakes of Probate

Did you know 95% of folks do not have a fully vested trust in place that will keep their estate our of probate once they have passed?  By the way, a lot of famous people’s estate have had to go through Probate, such as Michael Jackson and Steve Jobs.  Although, I am not an attorney, I work with many probate attorneys and these statistics are very real.

What is Probate?

Probate is the court process required to distribute someone’s assets when their loved one has passed without a trust. Probate courts have to decide who will get these assets and how they should be distributed.  There are different types of probate, so working with someone that understands the process is best.

What makes a Certified Probate Real Estate Specialist different from a regular Real Estate Professional? 

A Certified Probate Real Estate Specialist has been trained in the probate process, understanding timelines, we work with the courts, attorneys, and personal representatives  to make the process easier and sell the properties for top dollar.  At some point within the Probate process, and if you have real property, you will need a Probate Comparable Market Analysis (PCMA) which will advise the courts and the attorneys what the properties are worth at the time of death.  Many times the value will change once the properties are ready to go on the market and an updated PCMA will need to be competed.  These PCMA are also a good resource for the final tax return, which will need to be done with the Estate as well.

To receive a free e-book   “The 7 Biggest Mistakes Most Administrators and Executors Make While Going Through Probate and How You Can Avoid Them”

Contact me today to find the best Strategies and ways to move forward!

I need Probate Help

When you need help with your real property during probate, contact Lydia Wietsma Probate Real Estate Specialist

 

 

 

 

 

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