The Probate Process
You Inherited a House… Now What?
Probate can be very complicated until you understand the basic steps. Understanding the steps will help you efficiently navigate the probate process in most counties so you can move through it quickly. There are also options besides Probate you need to know about because they could help speed up the process of transferring a title or selling a house.
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Why Work With Us?
Over the years we have become experts. We have help many individuals work through the Probate Process and the selling of a deceased family members home. We understand that in most cases this a very difficult time and we are sensitive to that and the needs of our clients.
Why You Need To Know How It Works
The probate process is not as complicated as you might think and you need to know how it works. There is a good chance you know at least one baby boomer who will pass away in the coming years. They own homes and other assets which will need to be probated by county courts across the country unlike ever before.
The generation before the boomers labeled the “silent generation” was roughly 50 million people at its peak. The baby boomer generation is still the largest active generation in the country at roughly 74 million people between the age of 52 – 70. The baby boomer generation is aging rapidly however still makes up almost 41% of all homeowners in the market which equates to 32 million homes.
There is also a rising trend in the national death rate which will contribute to the increase in probate cases. Since 2008 the number of deaths per 1000 has started to rise which is a disturbing stat considering the death rate has declined steadily from 1990 – 2007.
With the staggering number of baby boomer homeowners coupled with an increase in the overall U.S. death rate, these factors will trigger more U.S. probate cases around the county than ever before. You need to be prepared to go through the probate process.
You Can Get Through The Probate Process
76% of the population will have an estate value of $500K or less. Estates of $500k or less are generally made up of a personal residence, small financial assets and some personal assets. The financial assets that will have to be dealt with are usually a retirement account, checking / saving accounts and maybe a rental property. Personal assets will include cars, furniture, jewelry, etc.
U.S. Probate Stats
If your estate falls into the category of a small estate under $500,000, you probably don’t need to hire an expensive lawyer. Usually you can work through the small estate affidavit process which will be much quicker than probate.
If you have any questions about the probate process or need help with a home you are dealing with in probate, we are here to help. We are the Home Buying Guys and we are experts at helping people when they are inheriting a house they do not want. We can walk you through the entire process of inheriting a home so you can focus on more important things in your life.