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Myths about Wills and Probate

At All the Leads, we’ve long contended that knowledge is power. If you browse the blog posts on our site and learn a little about the education we offer via our conference call video archive, you will see this principle in action. As a real estate professional you will be called upon to delve into a number of areas and interact with professionals in many different fields. So that you will not have to deal with the topic and professionals in the field, e.g., probate attorneys, from a position of ignorance, we are going to debunk the following myths about probate and wills in general.

  • If someone dies without a will, the state gets everything: This is a very common belief among a lot of people and one that is totally wrong. Although inheritance laws vary somewhat by state, when someone dies the spouse and children are usually the first in line to inherit the deceased person’s estate. Usually assets only go to the state when no relatives can be found. It is still a good idea to have a will to clear up any confusion.
  • It takes a lifetime to probate an estate: Usually the probate process is delayed only for a period of time as to allow creditors to file a claim. This period varies from state to state but is generally not very long.
  • The costs associated with probate will deplete the estate’s assets: For most estates probate isn’t even required in the first place. If an estate does need a formal probate, then the cost of probate is usually less than 5% of the estate’s total value. Sure, survivors are likely to face attorney’s fees but in some states attorneys charge a percentage of the estate’s value rather than a flat or hourly fee. This fee is usually less than if those same survivors were to pay a flat out hourly fee to a probate attorney.myth
  • The oldest child is entitled to be the executor of a parent’s estate: Birth order does not hold any water when it comes to who will be the executor of an estate. The court usually goes with whoever is named in the will regardless of whether or not they are the eldest sibling. The only exception to the court respecting the wishes of the deceased in these cases is when there is a compelling reason to not have the person named in the will be the executor.

Now that you’ve learned about some of the common misconceptions and misunderstandings regarding wills and probate, you can start the probate real estate investing process with accurate information and with confidence. This knowledge will also help you when you purchase listing leads from us. Don’t let probate be the one area that you are lacking knowledge.

Probate Case Study – Michelle Knobloch – All The Leads Reviews

All The Leads reviews are my favorite content to share with Real Estate Agents and Real Estate Investors.  Every day we live our #1 core value – Provide Value First – to help others find success in doing the same.  We provide a full system to help our Subscribers meet their business goals but, more importantly, a system that offers a huge impact in hundreds of communities to thousands of people every month across the US.

I’m thrilled to have finally captured Michelle’s story on camera so you guys can see the potential of becoming a Probate Expert in your market.  Her opening line says it all…


“All I can say is, it has brought so much joy and peace to be able to do what I do; becoming a specialist in this area.  The lives that we’ve touched, the difference that it’s made, it really is a blessing and we are all passionate about changing lives and making a difference.”
– Michelle Knobloch


Now, we ARE all running a business so it’s not always about “the feels” and emotions…sometimes it IS about dollars.  Serving as a Probate Expert can certainly make a difference in the lives of others but the value provided can also result in a 10x or greater return.  As you will see in the video, Michelle has invested $6,382 to make $61,042 in her first three years as a Probate Expert, which yielded a return on investment of 856.47%

 

Tenure:  3 Years

Probate Closings: 23

Total Cost: $6,382

Total Commissions: $61,042

Pipeline:  6

 

See more Case Studies and All The Leads reviews from our Subscribers HERE

 

If you are a real estate agent or real estate investor looking for real estate leads and you want to offer a service to your community then you really need to consider becoming a probate expert.  Over the next 40 years over $136 Trillion in assets will pass from one generation to the next and nearly 80% of that wealth is locked up in real estate.  This is an opportunity for you to build a strong pillar in your business while your competition is still out begging for business from the same leads they’ve worked for the past 20 years.  All The Leads provides a system driven by ever-expanding knowledge and experience.  To see how many leads we gather in your county each month click here.

probate

Myths about Wills and Probate

At All the Leads, we’ve long contended that knowledge is power. If you browse the blog posts on our site and learn a little about the education we offer via our conference call video archive, you will see this principle in action. As a real estate professional you will be called upon to delve into a number of areas and interact with professionals in many different fields. So that you will not have to deal with the topic and professionals in the field, e.g., probate attorneys, from a position of ignorance, we are going to debunk the following myths about probate and wills in general.

  • If someone dies without a will, the state gets everything: This is a very common belief among a lot of people and one that is totally wrong. Although inheritance laws vary somewhat by state, when someone dies the spouse and children are usually the first in line to inherit the deceased person’s estate. Usually assets only go to the state when no relatives can be found. It is still a good idea to have a will to clear up any confusion.
  • It takes a lifetime to probate an estate: Usually the probate process is delayed only for a period of time as to allow creditors to file a claim. This period varies from state to state but is generally not very long.
  • The costs associated with probate will deplete the estate’s assets: For most estates, probate isn’t even required in the first place. If an estate does need a formal probate, then the cost of probate is usually less than 5% of the estate’s total value. Sure, survivors are likely to face attorney’s fees but in some states attorneys charge a percentage of the estate’s value rather than a flat or hourly fee. This fee is usually less than if those same survivors were to pay a flat out hourly fee to a probate attorney.probate
  • The oldest child is entitled to be the executor of a parent’s estate: Birth order does not hold any water when it comes to who will be the executor of an estate. The court usually goes with whoever is named in the will regardless of whether or not they are the eldest sibling. The only exception to the court respecting the wishes of the deceased in these cases is when there is a compelling reason to not have the person named in the will be the executor.

Now that you’ve learned about some of the common misconceptions and misunderstandings regarding wills and probate, you can start the probate real estate investing process with accurate information and with confidence. This knowledge will also help you when you purchase listing leads from us. Don’t let probate be the one area that you are lacking knowledge.

Why We Use Greeting Card Envelopes for Probate Marketing?

Here is a fact that you may not know – mail is more likely to be opened when is wrapped inside an attractive envelope. And since it is an absolute necessity in this business that you preempt the competition and that you build a rapport with clients, the manner in which you send your message is also important. Thus, there are several advantages to using greeting cards and greeting card envelopes to reach out to clients and strategic partners, e.g. attorneys, bankers, etc.

  • Greeting cards and envelopes come in a variety of sizes and colors: Thus, you have already distinguished your correspondence to the other mail your partners and clients receive. Moreover, the texture, color and size can also be personalized to fit your needs and the content of the mail you are sending.
  • Greeting cards and envelopes are more likely to be saved: People have a habit of saving greeting cards and even the envelopes they came in. This means that they are less likely to be lost or thrown away unlike e-cards.
  • Greeting cards and envelopes are tangible: Because clients can physically touch the correspondence you send them, they are more likely to view its contents as being reliable.
  • Greeting card envelopes are personal: As we have said before on this blog, rapport building is an essential part of what you do as a real estate professional. It is a vital part of yourmailbox motivator communications with your strategic partners as well as your clients. Correspondence sent in an attractive, customized envelope is more personal and attention getting. Clients will know that you have their specific needs in mind when you send your message this way.

The Advantages of Sending Physical “or Snail Mail”

Of course, in our digital age it is fair to ask if sending a physical piece of mail to someone is even practical. We say it is for the following reasons.

  • Direct mail can extend your personal brand.
  • Direct mail can be personalized and its results measured accurately
  • Direct mail can be more cost effective than heading a digital campaign.

For these reasons, we suggest that your probate property strategy include regular mailings to clients and partners. This will make your correspondence stand out from others. We also suggest that in order to grow your listing leads that you join our program. We can help you automate your probate leads marketing program and get results quickly.

probate lawyer

Top Probate Attorneys Give Pointers on How You Can Help Them

One of the key people who will increase the value provided by your services is a probate attorney. There are primarily two reasons for this: First, the probate process is very complex and the average layperson has problems negotiating the various legal twists and turns that are involved in even the simplest case. Second, probate is required in most cases. As such, many issues can arise; people can contest the will, etc. So that you have a hand up on helping facilitate the legal process of probate for your client, we’ve gathered together some advice from top probate attorneys.
Make self available to clients and to the probate attorney: Probate cases can rapidly evolve as wills are contested, etc. Nothing is static. For this reason, your client may need to reach out to you often. Make yourself available to your client so that the probate attorney can have information he or she may need to adjust his strategies.
Know probate process in and out: Only by understanding the ins and outs of probate can you be of assistance to your client and/or the probate attorney. Professionals who are not so equipped can lose money, clients and cost the attorney time. You can increase your knowledge and indeed become an expert through training on our site. At the same time you can grow your real estate seller leads in a cost effective and efficient manner.
Be empathetic with client: Ultimately, it is all about making a sale. However, you must not forget what the client has just gone through. They have suffered the loss of a loved one and are experiencing a difficult and confusing time. You can help the probate attorney by acknowledging this and by letting clients know you understand their current situation.probate lawyer
Be ready to form network of associates: There are others involved in the probate that will help your client and indeed help your business. These people include bankers, lenders and of course, the probate attorney. Be someone who is an expert on team building and knows that it often takes a group effort to accomplish a goal. Probate attorneys can help you. You can help them. And both of you can help clients and their relatives in a time of loss.
There you have it. These are some ways you can help probate attorneys help others and at the same time grow your client base. You can also help yourself by enrolling in our program. Leads don’t just grow trees. Put the time and effort into your business that will accelerate it to the next level and increase your value for clients, attorneys and anyone else who uses your services.

90 Days of Probate Marketing in 30 Minutes or Less!

Information is power. No professional can achieve his/her goal without knowing all he or she can about every topic related to his/her business. This is what our educational resources offer real estate professionals who use either our training videos or who attend one of our conference calls. (We have the year 2014 – 2018 archived on our site.) You see, we give professionals so much information that they, with enough determination, can execute immediately. We give you more than theory. We give you actionable intelligence on how to get the best real estate leads. This allows you to act immediately. For example here are a few things you need to know to grow your leads.

 

  • Who to mail in Probate – You can choose to mail to the estate itself or to the executor.
  • How often to mail probates – You will need to refresh your list of leads and mail them perhaps 4-5 times throughout the year.
  • People you should contact can help you in your efforts along the way – Here you must be creative and our video conferencing sessions can give you immediate actionable intelligence that will save you a great deal of time and effort.

This information helps you with managing your lists and this is knowledge we can give you during our online courses. We will provide you with and help you mine untried sources for probate leads such as:

  • Funeral directors
  • Talk to ministers who conduct funeral services
  • You local probate attorney

We also advise you on the best way to record all obituaries and take recorded names to the courthouse to look up probate files. It simply takes a commitment on your part to use the information we can provide. It takes knowing how to follow up on the leads and information we can give you in one of or video conferencing sessions and our classes. For probateexample, you will need to follow up with your contacts by making them a mutually beneficial proposal, being personable and by being persistent in your efforts.

For just a small investment of time – 30 minutes – we can help you put 90 Days of Probate Marketing under your belt. Your business is certainly with that much time in order to gain 90 days of probate marketing. Make the investment in yourself and use two of the most precious resources yours or any other business has – time and knowledge.

The Biggest Fear We Hear from Rookie Probate Agents

A great man once said, “The only thing we have to fear is fear itself.” Fear can be immobilizing. It can keep us from achieving our goals and pursuing our dreams because we fear we will fail. Well, such paralysis in the real estate business can mean not only the loss of confidence but it can also mean the loss of money, time and other resources as well – not just yours but that of your client’s too. Thus, the biggest fear we hear from rookie probate agents is that they will not know enough to navigate a very complex system that is full of pit falls both for the agent and his/her clients. After all, the probate process affects lives in a very personal and profound way that goes beyond monetary considerations. People who are in the probate process are dealing with the loss of a loved one or ones. They are dealing with surviving relatives and they are dealing with a justice system that seeks to make things even for everyone but sometimes fails at it. So, you must, in the midst of all things, be sure you are doing things right and following all the steps necessary to help your client, improve your bottom-line and grow your business. (No extra pressure here at all.)

How Your Fear can be Conqueredprobate

As we said, the fear and apprehension that rookie real estate agents face is not an unnamed, non-specific fear. It all rests on how much you think you know and can bring to the table when you sit with your clients. The world of probate is populated by a great many professionals from the probate attorney, to judges, to other real estate agents all of whom know what they are doing. Listing leads are one thing; how to follow up on them is another thing. The best way to conquer your fear is by educating yourself and by using resources that are available to you. Just as your clients rely on you to inform them and make their lives easier, we do the same with our Probate Leads Marketing Program. Our education and leads program can help you conquer your fear by arming you with actionable intelligence on generating leads and becoming skilled in the probate process. This is what we know the end result of our services can do.

Probate Quicksand – Knowing When Your Clients Need a Hand

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 Rescueprobate

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.

Create Unique Value to Get More Real Estate Listings for your Services

Let’s face it – very few real estate professionals enjoy cold-calling. The trick to being a successful agent is to create so much interest in your services that leads are practically jumping at you. How do you do that? You do so by creating unique value in your services. You can do this expanding your skill-set. This in turn will increase the amount of leads and thus positively impact your community. Here are the building blocks for developing these advanced skills.

  • Learn to become a better negotiator: The ability to negotiate effectively is both an art and a science. This will help you get better quality leads and will aid your clients in accomplishing their needs and goals. One way to do this is by taking debating classes.
  • Expand your knowledge in the area of real estate law: Real estate law is complicated we all know that. However, professionals who are familiar and comfortable with its legal terms and concepts are better at aiding their clients. They are also better at sorting out what may be a lead that goes nowhere and one that may potentially be fruitful.
  • Get your appraisal license: As any salesperson can tell you, it isn’t just about the quantity of leads. It is also about the quality of said leads. Getting an appraisal license can add value to your services and help you get more leads as effectively as probate marketing. Real estate appraisers are able to evaluate property, estimate building costs and obtain land values from county sources.
  • Develop your team building skills: A team of partners is often better able to accomplish goals than an individual. If you join, or are a member of a team, then you can usually count on the contributions of each member to help be of greater value to clients and to gather more leads.real estate appraisal

Real estate professionals impact their communities in a number of significant ways. They guide consumers through major life events such as divorce, marriage, etc. They help individuals in those communities realize their life goals and aspirations. Finally, real estate professionals impact many other services related to any transactions such as lawyers, bankers, etc. We add value to your services by helping you to automate and streamline your probate leads marketing program. Here at All The Leads, we can increase your real estate seller leads. Join one of our training resources for free and increase your profits. You have nothing to lose by doing so and everything to gain.

Top 5 Responsibilities of Executors and How You can Provide Value as an Expert

One of the best ways to guarantee your success as a real estate professional is to learn how other experts can add value to your own services. In other words, you should strive to learn how experts among the other fields you encounter can help you to get more listing leads, perhaps through real estate lead generation websites, increase sales and become better at what you do. An executor is one professional whose responsibilities you should know so that you can provide them with greater value as an expert.

What is an Executor?

An executor is someone who is named in a will or appointed by a court that has the legal responsibility to take care of the deceased person’s remaining financial obligations including the disposition of his/her property and other assets. This is a position that is fraught with responsibilities which become even more complicated when there are no direct inheritors.

The Top 5 Responsibilities of an Executor

  • An executor decides whether or not to sell real estate: The disposition of land and property and is among the fundamental and most important responsibilities entrusted to an executor. At times it can be a straightforward process and at other times it can be quite complicated depending on the nature of the will. An executor should know to prepare a house if he/she is going to put it up for sale.
  • An executor gets the property in the estate ready to sell: This of course is directly related to real estate experts. Getting the property ready to sell could entail removing old, word or broken furniture, replacing light fixtures, fixing the roof, etc. Here a realtor is often consulted in order to help determine an effective sales strategy.
  • An executor handles issue related to probate proceedings: This will directly impact you as a real estate expert as well for reasons explained in the previous post concerning how to acquire more listings by becoming a probate expert.
  • An executor handles debt and tax issues: The executor makes sure that the deceased person’s debts are settled and that their taxes are filed. There is a federal estate tax and smaller state taxes that may be due.
  • An executor figures out who inherits property: If the deceased person left a will this duty can be carried out quite easily. If the deceased person did not leave a will the administrator will have to consult state law to see who the decease person’s heirs are and relate them to the “intestate succession” statutes.

How You Add Value and an Expert

There are a lot of moving parts to being an executor. For this reason, executors often engage with and require the help of other experts such as attorneys, CPAs and of course real estate agents. All The Leads offers a system to help you become the HUB of the probate process so you can differentiate yourself against any other professionals and be the first to engage in the conversation.  You may be a real estate agent or investor but first and foremost you are a Probate Expert (the HUB) and then a real estate agent or investor (one of the spokes).  The diagram below will help you understand the HUB concept and what other professionals you can add to your team so you can help the Administrator no matter what their challenges may be. executor

To learn more about our service and how we can provide you a complete system to be THE Probate Expert in your market please give us a call at the number above or click HERE to see if our probate leads and complete system is still available in your county.