What to Expect When a Loved One Passes Away

Written by Marty on . Posted in Deceased owner, Probate, Trust lender

Selling real estate in probate

The death of a loved one can be a stressful time in life. Did you know that a probate court grants probate to the executor only after determining the legal validity of the last will and testament? Probating an estate can be a long and tedious process, especially when a will does not exist. There are laws in place, however, that work towards distributing inheritances to beneficiaries, such as fiduciary mortgages, even if there is no will. By doing so, the real estate of a loved one can be inherited without as many complications.

Property, titles, debts, rights, and obligations are all inheritances that are passed on to beneficiaries after the death of an individual. However, a probate loan is sometimes needed. When the court proceedings are taking too long, or you have run into probate problems, probate loans can be taken out. These inheritance loans are cash advances for inheritance property, and they are funded by real estate investors, investment groups, and cash advance providers. In order to receive a probate loan, the lender needs a copy of the death certificate, as well as a copy of the last will and testament, if one exists. After the court process has concluded, the lender is immediately repaid by the probate estate or trust.

This process runs smoothly when there is a will, but what if there is not one? Depending on which state you live in, there are different laws that handle this exact situation. After the case is reviewed by a judge, the assets are distributed to those who are entitled to inherit them. A fiduciary, which is a legal trust between two parties, is then created. After that, a fiduciary mortgage can be decided upon. A fiduciary mortgage is an agreement between the lender and the beneficiaries, and the creation of one will only be the result of good faith court proceedings.

The death of a loved one can be a stressful experience for more reasons than one. The legal proceedings, for example, can be both long and complicated, especially if no will was left. Although court proceedings can go more smoothly when there is a will, there are laws in place that handle cases in which no will was left. As a result, there are several ways to get all you are entitled to in the event of a loved one passing away.

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Comments (1)

  • Chester Rogers

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    So are you saying that if my loved one DID leave a will then I should have no problems? I think my parents have wills, but if they didnt and they passed away, I have no idea what I would do. I am clueless when it comes to this stuff

    Reply

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