In the absence of a Living Trust, the family may need to go through the probate process to sell a property after the passing of parents.
I offer assistance in demystifying the probate process and facilitating the sale of the property.
Referral to a Probate Attorney
If the family hasn’t obtained a probate attorney, I can refer them to someone who can guide them through the process and provide information on timelines.
The attorney will file a petition of probate, and the response time is typically 30-45 days.
Costs of Probate
Fees for probate are set by the State of California and are paid to the attorney, administrator, or executor at the end of the probate period.
These fees are covered by the proceeds from the sale of the property, and whatever remains is distributed to the heirs through the court.
Timeline for Selling the Property
The property can be listed for sale after the attorney has received the order of probate and letters of administration, typically about 45-60 days from the initial court filing.
Contract (Residential Listing Agreement and Probate Listing Addendum and Advisory) can be entered into to get the property on the market and sold with me.
Encouragement for Future Planning
I encourage individuals to consider creating a Living Trust to avoid potential probate issues for their heirs.
Many probate attorneys also provide services for living trusts, and having one in place can protect property and assets, leaving more proceeds to the heirs.