From Executor to Certified Specialist – Mick’s Journey

Hi, I’m Mick.

When I became the Executor of my mother’s estate — 600 miles away from my home — I quickly realized that estate representative responsibilities took far more time and effort than I ever imagined. There were so many decisions to be made that it was hard to know where to start.

I knew something had to be done regarding the house I grew up in, but the probate real estate process seemed like an enormous amount of stress at an emotionally fragile time.

I really wanted to buy the home as a rental, but since I lived in Georgia and the property was in Maryland, it just wasn’t practical. My sister wanted to do the same but wasn’t in the financial position to make it happen. 

The only realistic option was to sell the house.

As retired Licensed Residential Contractors and experienced real estate agents, my wife and I knew exactly how to maximize the home’s value.

But in Maryland, I was a long way from my home in Georgia, without my tools, the time, or a trusted network of tradesmen needed to do a proper rehab. Fortunately, my sister did know the right people and, after several trips to Maryland, the rehab got done under our guidance.

The other key element I had to find was a knowledgeable real estate agent who truly understood the real estate probate process.  After many interviews, we found a REALTOR® who was a home valuation expert and who sold it for much more than my doubting sister thought was remotely possible.

Since then, I’ve become a Certified Probate Real Estate Specialist. Through my experience, I’ve found that many estate representatives need exactly what I needed at one time.

I’ve been in your situation. I know the probate process and I know real estate. That’s why it’s my goal to provide the resources and insights to help make your job as an estate representative much easier.

Sincerely,
Mick

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The post Do I Need Court Approval to Sell My Deceased Loved One’s House? appeared first on Carol and Mick Real Estate.

Here are some general guidelines for giving notice as an estate executor in Georgia:

• Identify interested parties: Determine who the interested parties are, including heirs, creditors, and beneficiaries named in the will.
• Determine the required method of notice: Georgia law may require that notice be given by publication in a local newspaper, by certified mail, or by personal service.
• Prepare the notice: The notice should include information about the decedent’s death, the appointment of the executor, the location of the will (if one exists), and the deadline for creditors to make a claim against the estate.
• Deliver the notice: Deliver the notice to each interested party according to the method required by Georgia law.
• Keep records of the delivery of the notice, including the date and method of delivery and the name of each recipient.

It’s important to note that the above steps are general guidelines and may vary based on the specific circumstances of the estate. It’s recommended to consult with an attorney who is experienced in probate law in Georgia to ensure that the requirements for giving notice are met.

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It is important to keep in mind that the distribution of personal belongings can be a sensitive and emotional issue, and it may be helpful to seek the assistance of a probate attorney or other legal professional to ensure that the process is handled fairly and in accordance with the law.

First, Does a Will or Trust Exist?

Yes
In this case, the deceased person may have left specific instructions in their will or trust regarding the distribution of their personal belongings. If so, the estate administrator or personal representative will follow the instructions to distribute the belongings as specified.

No
The distribution of personal belongings may be governed by the laws of intestacy of the state where the deceased person lived. In Georgia, the laws of intestacy specify who is entitled to inherit the deceased person’s property if there is no will.

Options for Personal Belongings

Keep
The family may agree to divide the personal belongings among themselves, either by mutual agreement or through a formal division process.

Sell
In some cases, personal belongings may be sold in order to pay debts or taxes owed by the estate. Once you are named the executor, you can take inventory and appraise assets, including the home’s contents and market value.

If you’re facing the difficult task of clearing out a deceased parent’s home, take the first step towards finding peace after loss by downloading Respect and Responsibility: A Checklist for Clearing Out a Deceased Parent’s House.

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Here are three things that every estate administrator or executor must do:

1. Obtain a court-appointed authority
   Depending on the jurisdiction and the specifics of the estate, the estate administrator or executor may need to obtain court-appointed authority before they can take any actions on behalf of the estate. This typically involves filing a petition with the probate court and obtaining an appointment as the personal representative of the estate.
2. Inventory and manage the estate assets
   Once you have the authority to act on behalf of the estate, you must identify and inventory all of the assets that make up the estate. This can include real property, personal property, financial accounts, and other assets. You will also be responsible for managing these assets, including making any necessary repairs or improvements, paying any bills, and collecting any income that is owed to the estate.
3. Distribute the estate assets
   Once all of the estate’s debts and obligations have been paid, you will be responsible for distributing the remaining assets to the beneficiaries or heirs according to the terms of the will or the state’s laws of intestacy. This may involve selling assets, transferring ownership, and distributing funds. You will need to keep accurate records of all transactions and provide regular updates to the beneficiaries or heirs on the status of the estate.

These are three critical tasks that every estate administrator or executor must carry out, but there may be other requirements and responsibilities depending on the specific circumstances of the estate. It is important to consult with a qualified attorney or financial advisor to ensure that you are fulfilling your obligations correctly and effectively.

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The executor will be given a letter of testamentary from the probate courts.

These are documents that give the executor the right to manage the assets of the deceased, including the house.

The executor would still need to fill out a lot of forms and file them with the probate court after these documents are released.

Acting as the executor of an estate means you’ll be in charge of paying bills, inventorying assets, and making distributions to beneficiaries.

The post How will I be notified if I’ve been named the estate executor or estate administrator? appeared first on Carol and Mick Real Estate.

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