With all the legal jargon involved, it can be difficult to understand just what it means for an estate to be in probate. Well, luckily, the process can be put into words that many people can work with. It’s possible that you may have to deal with an estate in probate at some point in your life–or, perhaps, you’re reading this because you’ve got an estate in probate and aren’t sure how to deal with it. Let’s quickly go over what it means for an estate to be in probate!
What is Probate?
Probate is the process of transferring a property to an heir after a person has died. An example would be someone owning an estate, passing away, and then writing in their will that their child will inherit the estate. A court gets involved in probate cases, because usually, there are debts or taxes to be paid off or there is a discrepancy with the will. In these situations, it’s important to remember that probate can get very, very complicated, especially if there’s no will. It’s possible to avoid probate through a living trust, but these can be very hard to navigate, as well. The problem with selling an estate in probate arises when legal issues collide with financial issues.
Will or No Will?
Whether or not there is a will involved with a probate is very important. With a will, it can be relatively simple for the executor to send the will to court in order to get it verified. If it is, and the estate is simple, then it’s likely the estate in probate will be passed on and debts will be attributed to the proper person. Without a will, though, it gets complicated. The court must decide how to spread the debt across the family, usually starting with the deceased’s spouse. This is a much longer process. While this is happening, it’s possible the estate in probate could fall into disrepair or lose property value. This is not good for the future owner, who may want to sell the estate.
The Team Edge will buy your estate in probate–FAST!
If you aren’t willing to make all these tedious changes, The Team Edge is here to help. The Team Edge will buy your property regardless of its current condition and curb appeal, and is dedicated to providing you with the best possible selling experience and a fast, fair offer. Call our 24/7 hotline today at 443-840-7100 or fill out our quick and easy online application to get started on selling your Maryland property immediately. That’s right. Sell your house fast – AS IS!