Way too often, I have encountered clients whom a family member has passed away and has left real estate but no will or legal document as to what to do with it. Most times, when someone passes away and leaves behind a property or multiple properties, their family members prefer to sell. But what happens when there is no will or legal documents as to who can sell it? The head aches begin.
Unfortunately, when there is no will or legal document stating what will happen to the deceased real estate, the process known as probate (a legal process to settle the disbursement of property after death) takes place. This process can be very lengthy and costly.
In order to start the probate process, the deceased loved ones need to hire an attorney, incur the expensive legal fees and even wait between several months to years for a decision to be made. I am sure this is the last thing they need to go through during a passing. I have experienced the toll it takes on some of my clients who have had to go through this and and it’s not pretty.
Protect your loved ones
If you have a family and own real estate, you must act now! Unfortunately, death is inevitable, and it can come knocking on your door unexpectedly. I personally strongly dislike talking about this, but it’s a part of life that you need to take in consideration in order to avoid added frustration and stress to your loved ones. It is in their best interest to have things in order.
How to avoid probate?
Contact an attorney. Do not do this yourself, trust me. Wills and legal documents, in general, need to have certain language in order to cover everything. Getting this done does not take nearly as long as a probate process. On the contrary, you can have it all sorted out within a week and that is one less major stress off your family members.
As always, if you need more insight on this subject or need us to refer you to a good attorney, contact us today!
Categories: Real Estate Blog