Probate Quicksand – Knowing When Your Clients Need a HandChad Corbett
For first time executors, the weight of the duties surrounding the probate process can be overwhelming. Still assets must be secured, forms prepared and family members dealt with in a way that wraps up the loose ends that are usually left when a loved one passes away. Even when a person has gone through and is used to the process, probate can be…unpleasant, inconvenient, and expensive. Pick your adjective. That is why most experts recommend avoiding probate court if possible. And it is here, in the midst of such overpowering circumstances, that the value of your services can, as a real estate professional, increase tenfold. You can essentially be a life line that pulls your clients back to shore.
Signs your Client is in over his/her Head
As you know, the main duties of an executor are to identify, inventory, secure, and manage assets of the decedent. Yet, within that scope of duties problems can arise that can take first time executors by surprise and can make things difficult for him/her to manage. These problems include the time it can take for the process to play itself out and the fact that it can tie up probate property for months, sometimes more than a year. Another difficulty that trustees can encounter is when one or more of the beneficiaries object to the way that a trustee handles the estate. This can lead to legal action which can increase what can already be an expensive process for your client. For example, even though the probate court approves of fees that are considered “reasonable,” a probate attorney’s fees can amount to 20k for a home valued at 400K. For most people this is a prohibitive amount to pay. If your client has considered handling the probate proceedings without an attorney (“pro se”), then he/she may need your help as the probate process is too complicated a process for most people to go it alone.
Your Services to the Rescue
Naturally, you can see how these problems would be burdensome to your client. If your client has communicated any of these concerns to you then this is a clear sign that he/she may be in over his/her head. Even if your client hasn’t expressed concern over these issues, you should be expert enough in the probate process to anticipate that your client may need you at some point. Our Probate Listing System and training resources can help give you valuable information that can help you extricate your client from the quicksand of the probate process and can help you gain real estate seller leads. This course is comprehensive and complete giving you such valuable information such as how to build your probate team and how to make a difference as a real estate professional. Do yourself and your client a favor by increasing your knowledge through us as many professionals have.