Inherited Properties
The Probate Process
Inheriting property from an estate is governed by a legal process. If there is a valid will describing the deceased person’s wishes, this may allow skipping a big part of the legal actions. If there is no will, than by law the estate goes to the next of kin.With or without a will, estates often go through a legal process called probate. This controls the administration of the assets left by the deceased, ensuring that the wishes of the deceased are followed.
Each state has its own laws and practices governing probate. However, an executor is appointed by the court to carry out the instructions in the will, including making sure ownership of assets in the estate goes to the right people.
If a will names a single person as the beneficiary of the estate it simplifies matters considerably. As sole owner the beneficiary doesn’t have to consult with joint heirs about how to dispose of the property.
If a will names multiple people as beneficiaries. Sometimes several people wind up as owners of a single asset, such as a house.
In case of few beneficiaries and there is no will, someone has to manage the estate and figure out how property should be distributed. The individual must be appointed by the probate court before they can proceed. In the case where there is no will, the appointed person is referred to as the “administrator.”
We can help and direct you throughout the process of probate, we work with probate attorneys who could handle the entire process for you, so you could sell the property quick and stress free.