Death can come suddenly and unexpectedly, and it is rare to be prepared for it. As a matter of fact, nearly half of all Americans over the age of 55 do not have a will, and only 18 percent of Americans above age 55 have an established estate plan (with more than just a will).
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The thing to remember about probate is that, in a best-case scenario, it is boring. And that is a good thing. The probate estate process is not overly complex in most cases, and it does not need to be. If you are in charge of overseeing the probate estate process, it helps to have a
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For many families, probate is not ideal. It’s hard enough dealing with a loved one’s loss, but to then be inundated with a long and arduous legal process to eventually see their property be rightfully distributed can be frustrating, difficult, and expensive. While the California probate process isn’t as bad as it may be in
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Buying a property in probate can help you get a great deal that you wouldn’t find on the regular market. However, to take advantage of this opportunity, you must be prepared to wait, wait some more, and be prepared for the unexpected at any moment. There are several ways in which the process of buying
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When real estate is part of a decedent’s assets, heirs and beneficiaries often choose to sell the home and split the proceeds. However, realtors involved in the buying or selling of homes in probate should know the potential risks involved with property in probate. 1. Negotiations Include More Parties Negotiating the price of a probate
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In most cases, the home is the greatest and most valuable single asset of any given estate. While some can afford to own multiple homes or perhaps even possess assets with greater value than the average home, most families prize their family house as the financial crown jewel of the house’s owner – and as
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Unless an individual dies with a living trust or meets other specific criteria, their estate must go through probate after they pass away. The California probate process ensures that all of the estate’s debts are paid and that the assets are distributed to the proper beneficiaries and heirs. From start to finish, this process typically
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It happens all too often – someone passes away, and everything they own must now be passed down to the family. But who determines who gets what, and why? What if both of your adult children want custody over the family dog? Who gets the car? To whom goes the house? With or without a
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Selling properties in probate is a time-consuming process, but it’s an important task that helps families move on and prepare for the next stage of life. However, property in probate is prone to disputes, particularly if there’s an unclear will or multiple beneficiaries who want to lay claim to the house. A quiet title can
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While not the most complex in the country, the probate process in California can be both frustrating and long-winded for many concerned with finding the best possible way to pass on their wealth to the next generation. Luckily, there are multiple California probate alternatives that ease the process. Probate occurs when a person dies, and
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