5 Problems You Might Face During the Probate Process
The probate path isn’t an easy one to navigate. When taking it on by yourself, you’re bound to run into obstacles and bumps in the road that set you back during this already difficult time. Something else to keep in mind, this is not the time to learn as you go. You only get one chance to do it right.
But knowing what these common problems are can help you better deal with them or even avoid them altogether.
Here are 5 common problems I’ve seen some of my clients face during the probate process:
5 Common Problems in Probate (And How to Deal With Them)
1. The Will is Contested
The entire probate process is designed to prove the will and its validity. In this process, beneficiaries may contest. This happens when a beneficiary formally challenges something within the will that they believe to be untrue or invalid. If either the decedent was not of sound mind when they wrote the will, or someone committed fraud and altered the will, this occurs.
The contesting heir must prove that the statement or wish isn’t valid and show what the deceased actually meant.
If this happens, it can draw out the time spent in the probate process and stir up contention within the family.
2. The Personal Representative Doesn't Want to Fulfill Their Duties
The Personal Representative in probate carries out will’s responsibilities and primary duties, including managing and distributing assets and communicating with the court.
The decedent typically chooses this person before they pass. If the individual does not want to take on the role for some reason, they can opt-out. From there, the court will appoint a new Personal Representative. Of course, this can also delay the process and cause some drama amongst the heirs.
3. Disputes on the Value of Assets and Property
It’s crucial to have an accurate calculation and appraisal of the decedent’s assets. If you don’t, there may be issues with heirs, creditors, and even taxes.
Real estate is most often the decedent’s most valuable asset. Be sure to work with a probate real estate agent and appraiser to get this right.
4. Fraudulent or Extravagant Creditor Claims
Creditors are individuals/companies still in need of payment by the decedent.
During this time, creditors will make claims concerning the estate, and it’s the Personal Representative’s job to pay them using the estate’s assets.
Some creditors can make fraudulent or extravagant claims during this process, so it’s crucial to ensure they prove the need for payment.
5. Misunderstanding of the Probate Property Sale Procedure
Many avoidable problems may arise if you’re selling a probate property simply because you’re not familiar with the process. By working with an experienced probate realtor in Los Angeles, you can ensure you’re making the proper steps throughout the sale process.
Hi, my name’s Josh V, and I’m an experienced probate real estate agent ready to help you work through and avoid any problems in the probate process. Let me help take some of the weight off your shoulders. Give me a call today at (213) 465-0936! You’ll be glad you did.