Can you sell a house that is in probate?

Can you sell a house that is in probate?

And the answer is yes. But you need to get the court’s approval in most cases before you do so. Having a house in probate means that the house is one of the assets of the decedent, the person who recently passed away, and the house is now part of the probate case and under the jurisdiction of the court.

Generally, the executor is the person who is responsible for making sure that assets are first marshalled or determined to be the assets of the decedent, and then the assets ultimately are distributed after the court says it is okay to do so. So you can sell a house that is in probate as the executor. You just need to get the judge’s authority to do so first most of the time.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

What does it mean when a house is in probate?

What does it mean when a house is in probate?

Well, if a house is in probate, what that means is that it is one of the assets that was owned by the decedent, the person who passed away upon his or her death. And a probate case was started and the house was listed as one of the assets of the probate estate.

And so what that means is that the court has authority and oversight of the house and generally the executor has to get the court’s approval before the house can be sold.

In other words, the house is part of a court case and the judge ultimately will decide whether the house can be sold or not.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

How should you setup your will or trust if you don’t have anyone to leave your property to?

How should you setup your will or trust if you don’t have anyone to leave your property to?

A lot of people are curious about who to leave their property to if they don’t have family or loved ones. Now, you can leave your property to your friends or you could also leave property to charities. So, for example, you can leave property to a school that you support or any kind of charitable cause that you’re interested in.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Is Probate Needed if there is a will?

Is Probate Needed if there is a will?

Yes, probate is needed even if there is a will. There are two types of probate in California. The first is probate when there’s a will. The second type is probate when there is no will. And that’s called an intestacy proceeding, somebody dies intestate or without a will.

Having a will does not avoid probate. There are only three ways to avoid probate in California. The first is to have a revocable trust. The second is to be married and have a surviving spouse do what’s called a spousal set aside. And the third way is to have a small estate which is having less than $188,000 in assets on the date of your death.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Is Probate Needed if there is a will?

How often do people update their wills?

We see people updating their wills or their trusts anytime there’s a major life change. The types of life changes that could warrant updating your will or your trust include death in the family, a birth, marriage, divorce, bankruptcy or a change in the law.

For most people, we find that meeting every three years with an attorney and talking about what has changed is efficient. For very young families who are going through a lot of dynamic changes, we might reach out to them once every year. And also with the elderly or an elderly person who might be transitioning into an assisted living facility or a nursing home, we might want to meet with that person once a year.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Who takes over an estate for a deceased trustee?

Who takes over an estate for a deceased trustee?

When you set up a trust, you will designate who you want to be the successor trustee. This is the trustee who takes over management of the trust estate when you pass away. Now, best practice is to have multiple layers or multiple lists of trustees to take over. And so you’ll want person A to be first, person B to be second and so on.

Now in the event that you have a trust that does not have a trustee listed, so for example, you list person A and person A passes away and you don’t have a trustee next in line, the beneficiaries can petition the court to appoint a trustee. But, we want to avoid going to court to keep costs down. So you should have a first position, second position and third position.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

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