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October 10, 2009
Decedents
'Decedents' is a term used in legal documents to reference persons who have died. It is most commonly used in last wills, revocable trusts and irrevocable life insurance trusts. Wills and trusts are used to bequeath inheritance assets to beneficiaries.
Decedents can give their personal belongings, financial assets and real estate holdings to whomever they wish. Most individuals gift assets to their spouse, children or direct lineage relatives such as sisters, brothers, mother, father, nieces and nephews.
Real Estate Investing article on "Decedents "
October 04, 2009
Probate Litigation
Probate litigation refers to obtaining legal assistance to resolve conflict surrounding inheritance assets. Heirs or beneficiaries must retain the services of a probate attorney in order to contest the decedent's last will. Probate litigation is oftentimes required when decedents die intestate (without a Will).
Probate litigation can prolong the probate process for months or years. I know a woman whose stepfather passed away without executing a Will. Although single at the time of his death, four of his six ex-wives came forward to lay claim to his estate.
Real Estate Investing article on "Probate Litigation"
September 14, 2009
Will
Executing a legal Will is one of the greatest gifts you can leave your loved ones. A Will is used to express burial preferences and name beneficiaries to receive property and personal belongings. The Last Will and Testament gives you the opportunity to have the final say in the event of your death.
A Will is also used to appoint an estate administrator. Most often this person is a family member or close personal friend. Depending on the size and complexity of the estate, some people retain a professional estate planner or probate attorney to manage their estate. It is a good idea to use the services of a neutral third party if family strife exists.
Real Estate Investing article on "Will "
May 30, 2009
Probate Courts
Probate courts were established over 200 years ago to handle legal matters governed by equity law. The primary difference between equity law and civil matters is that equity cases involve entering decrees which direct someone to act or refrain from acting.
Probate courts focus on life matters that do not involve monetary awards. The most common cases heard in probate courtrooms include inheritance, estates, trusts, guardianship and conservatorships. Probate laws vary by state, city and county. Most cases require the assistance of a probate attorney.
Real Estate Investing article on "Probate Courts"
April 26, 2009
Inheritance Cash Advances
Inheritance cash advances aren't loans. There are no monthly payments to pay back. Inheritance cash advances don't have to be repaid by heirs at all. The estate repays the lender once it has been probated.
Inheritance cash advances supply money to beneficiaries of estates immediately. When a loved one dies, their estate goes into probate unless the decedent created an irrevocable living trust. The probate courts ensure the validity of the Last Will and Testament of the deceased, but the courts main purpose is to ensure creditors are paid before heirs.
Real Estate Investing article on "Inheritance Cash Advances"
April 18, 2009
Cash Fast Offers
Cash fast offers is exactly what it sounds like - an offer of fast cash for your real estate. People need to sell real estate quickly for a variety of reasons. Unfortunately, the most common reason is to avoid foreclosure. Although the government is implementing strategies to assist distressed homeowners, many will not qualify for help.
Cash fast offers can be a saving grace for individuals involved in short sale transactions. Due to the explosion of foreclosures some lenders agree to accept less than is owed on the mortgage note if the borrower can find a buyer in a short period of time.
Real Estate Investing article on "Cash Fast Offers"
April 14, 2009
Investment Clubs San Diego
Type investment clubs San Diego into any search engine, and you'll get thousands of results. Real estate investment clubs are growing in popularity around the country, with San Diego being no exception. Properties in San Diego, with its mild weather, sandy beaches and beautiful Spanish style architectural homes, are in high demand.
Investment clubs San Diego welcomes innovative clubs to their ranks. In 2007 Eco investment clubs San Diego became the corporate headquarters to an investment club with the mission of supporting the environment by urging investors to create and use sustainable businesses, educating investors on environmentally safe business practices and networking with other eco friendly individuals. Eco investment clubs San Diego allows investors to go green while making green.
Real Estate Investing article on "Investment Clubs San Diego"
March 29, 2009
Will Executor
A Will executor refers to a person that has been legally designated to oversee the estate of a person who has died. There are several names for a will executor including estate administrator, probate personal representative, estate executor, probate administrator and estate agent.
Regardless of the title, a will executor must be appointed through the decedent's last will and testament or by a probate judge. Nearly every estate must pass through probate prior to distribution of assets
Real Estate Investing article on "Will Executor"
March 19, 2009
Probate Liquidators
Probate liquidators refer to companies that purchase assets held in probate. This can be a valuable service for estate executors because it allows them to sell assets for cash. This money is used to pay off outstanding debts associated with the estate and allows for ease of distribution to creditors and intended beneficiaries.
The sooner assets are sold to probate liquidators, the better. Estate assets are held in probate for an average of three years. During this time assets depreciate, while attorney fees and probate costs escalate. By selling probate assets at the onset of probate, the estate receives more money and can reduce the duration of the probate process.
Real Estate Investing article on "Probate Liquidators"
February 13, 2009
Probate Process
The probate process is used to validate a person's Last Will and Testament; pay outstanding debts; and distribute estate assets to beneficiaries. When a person dies intestate (without a Will), the probate process can be prolonged while heirs are located and notified of the decedent's death.
The duration of probate process depends upon the complexity of the estate and behavior of heirs and beneficiaries. Heirs are direct lineage relatives, while beneficiaries can be anyone. Heirs are automatically entitled to assets unless the decedent specifically disinherits entitled relatives within their Will. If heirs contest the Will, the probate process can be prolonged for months or even years.