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7 result(s) displayed (1 - 7):

August 09, 2011

Writing a Will

If you're thinking about writing a Will you're making a smart decision. A lot of people put off this task until it's too late and end up making their family deal with a lot of bureaucratic red tape. It takes very little time to put affairs in order and is worth every minute knowing loved ones will know exactly what to do.

There are many ways to go about writing a Will. If you don't own much valuable property a do it yourself Will kit might be all you need. If you own real estate or titled property, you'll want to setup beneficiaries so property can be easily transferred upon death.

Real Estate Investing article on "Writing a Will "

December 09, 2010

Inheritence Property

Inheritence property consists of real property, cash, and personal belongings that have been gifted to others via a Will, trust, or probate law. Anything that belonged to the decedent must be transferred to a surviving spouse, family members, friends, institutes of education, or charitable organizations.

The most common way to gift inheritence property is through a last will and testament or trust. Estates not protected by a trust must undergo the process of probate. This is required in all states to ensure estates are settled according to state probate laws.

Real Estate Investing article on "Inheritence Property "

July 20, 2010

Probate Property

Buying probate property is a little-known way to enhance investment portfolios or buy a house priced below market value. Investing in probated real estate requires a little more work than buying homes from realtors or mortgage lenders, but the savings can be well worth the effort.

Probate property is real estate held in probate court. When a person dies their assets are held in probate until the last will is validated and outstanding debts are paid. On average, the probate process lasts between three and nine months. Inheritance property cannot be distributed to heirs until the estate is settled.

Real Estate Investing article on "Probate Property"

March 22, 2010

Estate Executor

Estate executor refers to an individual in charge of managing the estate of a person who has died. Estate administration duties will vary depending on the type and value of assets owned by the decedent and whether the estate is probated or protected through a trust.

Oftentimes, the estate executor of probated estates will require assistance from a lawyer or estate planner to ensure estate management procedures comply with probate laws. Probate is the legal process used within all 50 states to validate decedents' last will or appoint an estate administrator to manage intestate estates. Intestate means the person died without executing a last will.

Real Estate Investing article on "Estate Executor"

February 05, 2010

Probate Loan

A probate loan is not actually a loan. Instead, it is a cash advance provided to estate beneficiaries entitled to property held in the probate court system. Obtaining inheritance loans involves following certain protocol, submitting legal documents, and assigning inheritance rights to the funding source.

Probate loan providers assume substantial risk when accepting inheritance property as collateral for cash advances. Inheritance loans are repaid by the estate. It is not uncommon for estate administrators to sell probated assets to pay outstanding debts. Some estate planning experts claim less than 20-percent of heirs receive inheritance property held in probate.

Real Estate Investing article on "Probate Loan"

May 05, 2009

California Probate Lawyer

A California probate lawyer is an integral part of estate planning for residents of the Golden State. Probate is the legal process used to determine the value of estates and to properly distribute assets to heirs and beneficiaries. California probate code is complex; consisting of eleven divisions and hundreds of pages of legal jargon.

California probate lawyers specialize in helping individuals develop estate planning strategies. Some strategies can keep assets out of probate while others reduce or eliminate inheritance taxes. Probate attorneys can help individuals establish payable-on-death and transfer-on-death beneficiaries for investment and banking accounts, automobiles, motorcycles, boats, recreational vehicles, real estate holdings and businesses.

Real Estate Investing article on "California Probate Lawyer"

March 21, 2009

Probate Personal Representative

A probate personal representative is responsible for overseeing administration of an estate held in probate. When a person dies everything they own is transferred to probate and held until the estate is closed. During probate the personal representative must obtain property appraisals, pay outstanding debts and distribute assets to designated beneficiaries.

The position of probate personal representative requires good money management skills and the ability to mediate with family should disputes arise. Individuals appointed to this position must be at least 18 years of age and never convicted of felony offenses.

Real Estate Investing article on "Probate Personal Representative"