Probate Tips

There is never a way to effectively relieve someones grief over the loss of a loved one.  The feelings run deep.  All we can really do is make every effort to avoid compounding the negative impact of the loss.  Unfortunately, there are worldly possessions that often get between our affection for the lost love one and the other mourners. This is especially true if the loved one did not identify how their  real property is to be handled after their death. 

I have to say that I am NOT an attorney. I do not presume the right or knowledge level to teach a probate course or instruct anyone on the steps in the process. I have had the opportunity during my 31 years in real estate to work with several attorneys and their clients marketing real estate in Southern California. My purpose is more towards addressing the emotional side of these transactions.  A lot of bad things may come out of our mouths that we may, or should, wish had not been said.

I especially remember a few times where the individual selected to make the decisions on real estate offers were just something short of persecuted by one or more other family members who were jealous that they were not the one in charge.  Our office only has to deal with the attorney for the estate and the family member with the authority to review and approve the offer for court approval.  That does not mean that other family members will not call and attempt to influence, intimidate and otherwise hinder the process.

Let me back up for a minute to emphasize a few things.  The court appointed  Personal Representative and Probate Attorney will review all written offers and select the best offer for court approval.  There will be an appraisal (Probate Referee) to help all involved determine value in the current market place.  The value set will require that the accepted bid is at least 90% of the value determined by the Probate Referee. Other offers can still be presented (over bids) at that time under established court procedures.  This process reduces the chance that any hanky panky will occur.  Family members can also make their case during the court proceedings.  Harassing the family member in charge and/or the Realtor representing the estate is not necessary.  The family member in charge is also dealing with the severity of the loss and the additional stress of losing support from jealous family members while doing a very difficult and time consuming task. They need emotional support now more than ever.  Especially since they have to pour over multiple offers and, with the help of the Realtor and Probate attorney, select the offer that best benefits the estate.

I should also mention that the buyers agent/buyer should secure their lender required appraisal PRIOR to the Court Confirmation.   Please feel free to contact me with your questions at ProbateSoCal@gmail.com at anytime to discuss this further.

My Probate tips for the family members are to remember that EVERYONE lost someone that meant a lot to them.  The person in charge was selected by the lost loved one or the court.  You were not selected.  The selected family member has a very difficult task ahead.  They have to give time to this process that was not planned.  It may be disrupting their lives at a time when they are already emotionally vulnerable.  They need your help now more than ever.

Finally, there is an attorney, an appraiser, a Realtor and a court process designed to keep the concerns you may have in check.  The financial gains from the sale of real property in this process should not be your saving grace.  It is not worth the loss of  the family relationship with other survivors who like you are experiencing a lot of pain.

Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com