FAQ
Frequently Asked Questions
Learn more about Probate, Real Estate, Books, Courses, and more information about Leigh.
It is the legal process of transferring real estate from a Will of a loved one to his or her Heirs. Probate Court must determine if the Decedent has a Will (Testate) or has No Will (Intestate) and decides who should legally be designated as the Personal Representative (PR) of the Estate. The PR has the responsibility to make all legal decisions affecting the ownership of the real estate property.
This process can be very daunting for families, which is why you need a Realtor®/Broker who knows the Probate Codes and specializes in assisting families through those challenges.
The first step is to hire an Attorney followed by hiring a Certified Probate Estate Sales Agent/Broker. During this Probate Journey, being aware that you might need other services such as a Financial Advisor or Tax Accountant is why an experienced Probate Estate Specialist Realtor® can help to explain and provide further assistance.
| STEP | DURATION |
|---|---|
| Apply for and IRS Estate Tax ID or EIN | ASAP |
| Prepare and File Petition for Probate | 1—2 months |
| Court hearing on the Petition for Probate | 2—3 months |
| The following are issued: Letters of Administration, Orders for Probate, Duties and Liabilities, Issue Bond (if ordered), and Letters Testamentary | 2—4 months (if not contested) |
| Notice to Creditors | 2—4 months |
| Notice to Department of Health Services Inventory & Appraisement | 4—8 months |
| Pay State and Federal Taxes | 6—12 months |
| Allow or Reject Creditor Claims | |
| Possible Preliminary Distributions | |
| Notice to Department of Health Services (if deceased receive medical) | |
| Notice to Franchise Tax Board (if heir is out of state) | |
| Claim of Exemption (if assets transfer to a minor) | 6—15 months |
| Receive Final Tax Letter from State and Federal (if appropriate) | 6—18 months |
| File Petition for Final Distribution and Accounting | 8—16 months |
| Hearing on Petition for Final Distribution and Accounting | |
| Order Approving Final Distribution and Accounting | |
| Distribution of Assets to Heirs | 9—17 months |
| Final Discharge Order (indicates close of probate case) | 9—18 months |
| Final Distribution of Funds | 9—18 months |
| Prepare and File Petition |
