👉What Are the Common Myths about the Charlotte NC Probate Process

The probate process is often misunderstood.

Have you lost your parent recently? Have you been named as the estate’s personal representative?

If so, you need to understand that probate is a highly detailed process and most people do not have any in-depth knowledge of it. Issues surrounding probate are complex. On top of everything, there exists a myriad of myths about the probate process.

For assistance when selling real estate in probate, it is always good to seek the guidance of the best real estate probate agent in Charlotte NC. That would be me, Nancy Braun. Here are the facts about probate you need to know!

Why a home is sold through probate

When a person dies, the probate process ensures that the assets are distributed according to the law. If the person dies with a Will and an Executor is named, who is living, willing and capable of acting, then the Court usually grants that named Executor the authority to handle the Estate. If there is no Will or if there is no Executor able to perform the duties, then the Court appoints an Administrator of the Estate.

The Court oversees the distribution of any assets, including the sale of any real property.

Aside from knowing the basics of the probate process, you also need to be familiar with the myths that surround it. Here are some of the common misconceptions about the probate process.

Myth #1 The probate process can take several years to complete

Every probate case is different. While some may take a longer time to complete, the average case can be closed in about 6 to 12 months.

If legal problems arise, probate could last longer. This may involve circumstances like family infighting, very large estates owing federal or state estate tax, and estates that continue to earn income.

Myth #2 The oldest child is entitled to be the executor of the parent’s estate

Being the oldest or even the most responsible among the siblings doesn’t automatically make a person entitled to be the executor of the deceased parent’s estate. Sibling order isn’t a factor courts take into account.

If the deceased person named an executor in his or her will, the court will appoint that person unless there’s a very good reason not to. If there is no will or the person named as executor in the will cannot or does not want to serve, then the court will appoint someone else. Remember, birth order doesn’t carry any weight in the probate process.

Myth #3 It will take months before the house or other estate property can be listed for sale.

It does not take months or years to sell a house that is included in a probate estate. Before the house can be listed for sale, the probate attorney or the court-appointed representative has to give notice to any and all known beneficiaries of the intent to sell the property. This is a formal document known as Notice of Sale.

When selling real estate in probate, it is highly recommended that you work with an experienced probate agent. The procedure for listing and marketing a probate property is very different from a traditional sale. If the process is not followed correctly, it could result in serious problems.

Understanding the probate process and debunking the myths surrounding it are essential so you do not make mistakes that result in the process taking longer.

Visit http://EstateHomeSale.com/ for more information on probate sales.

We can help you understand the realities of probate and can correct any misconceptions you may have. Call us anytime at 704-997-3794. Let our team provide you with help during the entire probate process.

In case you can not view this video here, please click the link below to view 👉What Are the Common Myths about the Charlotte NC Probate Process  on my YouTube channel: https://youtu.be/HMue6-zrxZI