After a loved one passes away, the last thing you want to do is get involved in a complicated legal and financial process. Here I break down the important terms, timeline, cost, and laws that may affect you.              Gavel on a table with lawyer and client discussing contract. THE BASICS: PEOPLE & TERMS   Before we get into the timeline, let us break down the main players and how they affect the timeline.    The executor or personal representative: An executor is a person named in the will of the deceased to administer the estate. They are in charge of the distribution of the assets per the will, or to the heirs if no will is present. They will receive “letters of testamentary,” which will give them the authority to handle interactions legally and finically on behalf of the estate.    The beneficiaries: Beneficiaries are those who inherit the estate or assets of the estate. Even if they are not named in the will (if one is present), relatives maybe in this category if they have a potential claim.   The creditors: Creditors are to be notified of the probate process and are allowed to collect any debt the estate owes them.    Intestate: A case where someone dies without a will.  Intestacy: State laws determining how to distribute such estates.   If someone dies without a will, intestacy laws will determine which relatives are next in line.  Small estate affidavit, summary probate, and/or summary administration: Documents or processes that can allow you to skip or shorten certain probate aspects like distributing property without a lengthy court process. This depends on the size of the estate and the state laws.    FULL TIMELINE: WHAT EACH STEP REQUIRES    Keep in mind that the probate process and timeline will vary greatly depending on the estate’s size and location.        1. OPEN PROBATE  The executor cannot immediately start executing the will and giving the china to Lucy; they have to file a petition with the probate court to open the process and prove that the will is legally valid before handling the estate.  Since some might question the validity of the will, this is a vital step.         2. SEND NOTICES  Once the will is proven and the executor is officially appointed, it is time to send notices to all interested parties. The executor must send a notice or make a good-faith effort to notify, like posting in a newspaper.   The interested parties include:   The beneficiaries   Next of kin, as specified by your state’s intestacy laws   In California, next of kin are usually the decedent’s closest living family members  Creditors   If the will is uncontested and all interested parties agree to the terms specified in the will, then the probate court only has to review and sign the paperwork. If, however, someone disagrees or feels the will is invalid, the judge will have to be more involved.    Typically, creditors only have six to nine months to submit a claim for any outstanding debts, and the court generally does not intervene. When it does, it is either because the outstanding debt is so great that some assets will need to be sold, or the executor wants to deny the creditors’ claim.         3. TAKE INVENTORY  Before the executor can start dividing the assets, they must take inventory of the assets and their value, ranging from a simple bank account check to evaluating the value of jewelry or stocks.    Not all of the assets are eligible to be part of probate. Non-probate property bypasses the process and goes directly to beneficiaries or co-owners, despite the will. Those include:  Assets titled in the name of a trust or designating a trust as beneficiary-  In this case, the trustee named in the trust is authorized to distribute trust assets to beneficiaries.    Property with a named beneficiary-   These are things like life insurance, 401(k)s, pensions, etc…   Property owned jointly, with survivorship rights-  If one partner dies, the other partner automatically gets their interest in the property. Married couples often have a joint tenancy with the right of survivorship or the tenancy by the entirety.         4. DISTRIBUTE ASSETS  Distributing the assets is not as simple as giving the china to Lucy and the car to George: going through the will’s specifications and making sure everything is done right takes time.    Part of distributing the assets is paying debts and taxes, submitting policy claims, and ensuring that the accounts that are no longer necessary are closed. If money is left to a minor, they will have to create a trust with a court-appointed trustee to manage the trust, which will extend the probate timeline.    Due to the strenuous nature of the work, executors can receive compensation depending on state laws. According to William Sweeney, a California-based probate attorney, the executor usually receives 4% on the first $100,000, 3% on the next $100,000, and 2% on the next $800,000 under California Probate Code.         5. CLOSE THE ESTATE  After the probate process is complete, it is time to file a petition to dissolve the estate and conclude the probate process. The closing affidavit is a formal notice that assets have been distributed, discarded, or sold, and fees due to the executor and creditors have been paid.  Once this is complete, the executor will be released from their duties.      HOW MUCH WILL THIS COST?  Attorney fees:  While these will vary by state and size of the estate, California sets the fees by statute. Here are the maximum fees, according to US News.  4% of the first $100,000 of the estate.  3% of the next $100,000.  2% of the next $800,000.  1% of the next $9 million.  0.5% of the next $15 million.  So, for example, a $1 million estate would cost $23,000 in attorney fees.  Executor compensation. As discussed prior, under the California Probate Code executors can receive compensation in the state of California.  4% on the first $100,000,  3% on the next $100,000,  2% on the next $800,000  This means that a $1 million estate will pay up to $23,000 in executor’s fee.   Court fees. Courts have filing and paperwork fees throughout the probate process. The filing fee in California is $435  FINAL THOUGHTS  Probate can be a long, complicated, and emotionally draining process. The combined complexities of your estate executors’ duties and dealing with your emotional loss of a family member or friend can leave you feeling exhausted and overwhelmed.    As a top producing agent with 20+ years of experience in the East Bay, I have guided hundreds of clients through the probate process in the Greater San Francisco Bay area and the counties of Alameda and Contra Costa. As a certified probate real estate specialist, I am committed to giving you a clear picture of all your options so that you feel you are making the best decisions every step of the way during your probate settlement. 

  Deciding to sell your house is a big undertaking that has one too many forms to fill.  There is a lot you can do in the months leading up to listing your home that can drastically increase the sale price. This home seller’s guide will walk you through the steps you need to take to be successful.            Couple shaking hands with a real estate agent. Hiring listing agent.     STAGE 1 – ESTABLISH PERMITTERS          1. LAYOUT A PLAN    The first thing you need to do when considering selling a home is to lay out a plan of what you want the next 3 months and beyond to look like. Once you sell, where are you going to live? Will you need to buy a house simultaneously? Where are you going to store your personal items during showings? It’s best to go in with a clear plan of attack before listing your home, and your real estate agent will be essential to help you do so.         2. HIRE A REAL ESTATE AGENT     Your real estate agent is your representative in the house selling process, so they must have your best interest at heart. Selling a house is a complicated and emotional undertaking: it is their responsibility to guide you through it. Your agent will find potential buyers, conduct showings, and most importantly, help you negotiate the offers. The best way to know if the agent is right for you is by asking lots of questions. Your prospective agent should have strong local market knowledge, experience, and a track record of success. If you are considering selling your home yourself, consider the amount of time it will take. Selling a home is a full-time job!  The agent is responsible for:   pricing your home accurately  help you navigate through the preparation and staging process  preparing all disclosers and appropriate inspections  conduct photography, videography, and prepare appropriate marketing listing your house on Multiple Listing Service (MLS) databases  making sure the listing appears on all appropriate sites  keeping track of all communication and paperwork  presenting and negotiating all offers  managing it to the closing Moreover, listing with a real estate agent gets you more money than a For Sale by Owner (FSBO). According to the National Association of Realtors, an average of $80,000 more! During the closing costs, the real estate agent will be paid around 6% of the final sale price as a commission (half of which will go to the buyer’s agent).         3. PRICE TO SELL     Be objective when pricing to sell. Here is where your real estate agent will come in handy. They can run a comparative market analysis (CMA), which will compare your home to other homes that are similar and sold recently. This is not an appraisal; a CMA is merely an approximation of the value of your home. Your CMA will help you price your home competitively and will result in a successful sale.    2-3 MONTHS BEFORE LISTING         4. GET A SELLERS INSPECTION    It is beneficial to get a seller’s inspection or a pre-listing inspection. According to the National Association of Realtors, the No.1 reason sales don’t go through is because of home inspections. Getting a pre-listing inspection helps you get ahead of any problems that could come up and help you adjust your budget. Once the inspection is complete, you should have a list of potential problems.         5. TACKLE ANY BIG REPAIRS  Now that you know what could cause a problem down the line, it is time to jump in and fix them. Ask your real estate agent which repairs are the most crucial, where your dollar will go the furthest. Start with the repairs that make your house safer, i.e. the wiring, and then move on to cosmetic repairs, like a fresh coat of paint to make your house look fresh.    1-2 MONTHS BEFORE LISTING         6. CREATE AN INVITING SPACE    Now is the time to stage, clean, and depersonalize your home. Your real estate agent will help you with all three steps. Conduct a walk-through with your agent to identify the areas you can improve. Buyers need to picture themselves living in your home, which is why you need to create an inviting and overall neutral atmosphere. While you can have a few family photos or cards on the fridge, beware that personal items send a message and that you are sending the right one. It is just as important that your house is the cleanest it has ever been for the photographs and the showings. If possible, hire professionals to clean the hard-to-clean areas, like rugs and carpets. It’s these small touches that change the way your house is perceived, and in the end, the price you are offered.    NEGOTIATING AN OFFER    Once you receive the offer, you can either accept, reject, or give a counteroffer. As the seller, you must pay attention to the details of the offer, not just the purchase price, such as:   Closing or escrow date Home improvements requests Closing costs  Contingency deadlines in regard to home inspection appraisal buyer financial Additional contingencies such as the sale of the buyer’s current home  Your real estate agent will guide you through this process. Keep in mind that you can negotiate on more than just the purchase price.    FINAL THOUGHTS   Whether you are choosing to sell because you want to downsize, move out of an area, or have outgrown your home, I have helped hundreds of clients sell their dream homes. If you should be getting top dollar for your property.   As a top producing agent with 20+ years of experience in the East Bay, I have helped hundreds of clients sell their homes in the Greater San Francisco Bay area and the counties of Alameda and Contra Costa. My experience as a former appraiser allows me to help my clients understand the market and help them enhance their homes to maximize the sale of their homes. If you have any questions, I am here to be a resource for you.

Inheriting a home comes with a lot of responsibilities and decision-making by the heir(s). If you have a loved one that has passed on and you’ve inherited their home or are the executor of the estate, below is a guideline to help you through the process before you decide whether or not to sell or keep the home.              Man sealing box with adhesive. Packing for relocation.   Making sure the home is secure and re-keying is extremely important. (it’s almost impossible to know who may have a key).  Notify the local police department that the property is now vacant. Speak with trusted neighbors and ask them to keep an eye on the property.  Set up lights with timers to make the home appear to be occupied.  Make sure mail is forwarded or regularly picked up and no leaflets are left at the door/porch.  Continue making mortgage payments, property tax payments, home insurance payments, and utility payments.  Make sure you can maintain the home or hire someone for the yard/home maintenance.  If the property is still vacant in the winter, you should winterize the property.  Make sure the home insurance company knows the property is vacant- this is very important!  Secure and remove all personal papers from the home (ie: wills, bank statements)  Start to inventory all items in the property of value for tax purposes and to track for all the heirs. You also may want to photograph or video the home’s contents. Heirs should start removing all items they want once the inventory has been completed.  FINAL THOUGHTS As a Certified Probate Real Estate Specialist, I work with reliable contractors to handle estate sales, clean out, trash removal, staging, and repairs. I am able to provide a comparable market evaluation of the home’s worth in its current condition (selling “as is”), as well as the value of the home with minor upgrades such as fresh paint, new flooring, and other small projects.  As a top-producing agent with 20+ years of experience in the East Bay, I have helped hundreds of clients navigate the probate process in the Greater San Francisco Bay area and the counties of Alameda and Contra Costa. My experience as a former appraiser allows me to help my clients understand the market as well as all of their options. If you have any questions, I am here to be a resource for you.