Probate Issues?

What is the Probate Process?

1. A person is named as the administrator, executor, or representative of the estate.

2. The administrator will list the assets and liabilities of the estate, and will advertise to find additional creditors.

3. Assets of the decedent will be sold to pay off debts.

4. Remaining assets will be distributed among the heirs.

What are common estate problems in probate?

* Administrators usually have other full-time jobs and settling an estate takes a lot of time

* Administrators usually do not have the time and skills to adequately sell or dispose of all assets in an estate

* There are often several heirs who do not work well together to settle an estate and divide the assets evenly

How can a real estate investor help with the process?

* The biggest debt is usually the mortgage on a house.  Real estate investors understand how to use assets to pay off mortgages and debts. Real estate investors know how to quickly and accurately estimate the value in a property, and the repairs and maintenance needed in order to correctly sell a property quickly.

* Real estate investors know how to sell assets.

* Real estate investors know how to do the speciality services that most estate administrators cannot efficiently provide to an estate and its heirs.   Or, I should say, "I enjoy solving problems and I enjoy finding creative ways to help administrators convert assets into cash for estate heirs."   I do understand how to use auctions, estate sales, eBay, and other creative problem-solving tools. 

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