Have you been declared the personal representative of an estate or an inherited home? Where do you start? Are you keeping the home or planning to sell it? Now that you know what probate is and what to expect during the process, let’s discuss first steps!
When you’ve got a home in probate, your first step will be to go to Family & Probate Court in the county where the deceased person lived. This is where you’ll file the will, along with a copy of the death certificate and a Petition to be formally appointed as the Personal Representative. Once you’ve done this, you will receive “Letters’‘ when your request is approved. These “letters”’ are proof of your legal authority to collect and manage the estate’s assets. Keep in mind that it can take up to several weeks or more for you to receive your Letters.
Your responsibility as Personal Representative is to collect, inventory and protect the assets of the estate and pay valid debts and taxes. After debts and taxes have been paid, you’ll distribute the remaining property as the will directs.
You’ll want to have a strong team of professionals available to help you through this process: a good probate attorney, tax professional, and, if the estate includes real estate, a strong realtor can help to make the process much easier for you as the personal representative. Also, make sure you seek the appropriate legal advice, I’m a realtor with helpful information and most definitely NOT an attorney.
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?