HANDLING REAL ESTATE DURING THE EXECUTION OF A FLORIDA WILL

Selling a house in Florida is rarely an easily reached decision, and the process is not much simpler. However, when the home is attached to stipulations in someone’s will, the sale can become even more riddled with tension and pressure. Not only may family members and heirs have a sentimental attachment to the home, but it also becomes clear that real estate is not as easy to divide as other, more liquid assets. Experts say that the sale of a home can be stressful, from the real estate appraisal through the sale process. Today, we provide some tips on how to prepare for real estate sales during an estate planning process.

Benefactors are encouraged to communicate with their executors in order to ensure that all processes go seamlessly after the estate is transferred. Estates can handle real estate sales through several simple steps: estate inventory, asset protection through insurance, real estate appraisal and property or asset distribution. Executors have a duty to make sure that the distribution is conducted in an ethical manner that conforms to the wishes of the benefactor.

There are some issues that may arise that an executor may not expect. For example, what happens when home repairs are needed after the death of the benefactor? Experts advise a judicious approach, only repairing what is absolutely critical to get the property to market. Some executors make big mistakes by pumping valuable resources into homes that could have sold without the repairs.

Ultimately, family members and executors are urged to enlist the help of specialists throughout the estate administration process. Probate attorneys may be able to serve as valuable members of such a Florida team. Adequate preparation and estate valuation may relieve tension and make asset transfer easier for everyone involved.

Share this on...Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Email this to someone

Written by Luis E. Barreto

Luis E. Barreto

Luis is a probate and guardianship litigator with over 23 years of experience in the field. Determination of heirs, will contests, breaches of fiduciary duty, removal of personal representatives, guardians and trustees are just some of the types of litigation he addresses. In addition, he administers non-contested estates and guardianships.