Creating a #trust when you have #assets and #properties is the smartest thing you can do for your family. A trust is the only entity that doesn't go through the probate process. A trust allows you to state whom all of your assets should go to in the event of your death. To create a standard trust is usually cost around $3,000. To go through the Probate process, the larger the assets or higher value the property, the more expensive the attorney fees will be. For an average estate of $500,000, the estimated fees are $12,000. Creating a trust will be the best $3,000 you'll ever spend!
Probate
Probate is a court hearing that family members of the #decease must go through in order to gain title of property under the name of the decease. The #probate court will determine the next of kin and who is entitled to ownership of the property. How the property was held makes a significant difference on the new owner, i.e., #tenantsincommon, #jointtenancy, etc. Most often the #family with hire a #ProbateAttorney to help them navigate the court process and file the appropriate documents for court hearings. Once a Personal Representative has been approved by the court, the next step is for that person to determine if they want to #sell or keep the property in the estate.
Working with a Probate & Trust Sales Specialist
Probate can be a complicated process to get through if you're not working with probate cases on a daily bases. So the family and #PersonalRepresentative should hire and work with a #Realtor® that's familiar with the process and can accommodate the needs of the family and the property. When you work with #Wesity we offer services for #estatesales, #clearout, #cleanup, and #relocations. If #courtconfirmation is required, we appear in court on our clients' behalf to ensure a smooth sale. Wesity is a full service brokerage ready to help those in need of trusted, experienced Realtors®.