You located a will?

When a loved one passes away and they convey their final wishes via a Last Will & Testament or an equivalent document, there are steps to take to settle the estate and sell any real estate property owned by person who passed away. Here’s a general outline of the initial steps to take:

1. Consult Professionals if Needed. If you're unsure about any legal or financial aspects, consider consulting an attorney, CPA, and/or financial advisor who specializes in probate estates. Consult a real estate agent well-versed in probate estates as well regarding the value and potential sale of any real estate. Feel free to reach out to me at 916-342-1372 if I can assist you.

2. Obtain the Death Certificate. Request multiple copies of the death certificate, as you will need these for various legal and financial matters.

3. Review the Will. If you have not already consulted an attorney, it may be beneficial to ask an attorney to review the contents of the will to ensure the will is valid, and to help you to understand the provisions and instructions outlined by the deceased. Discuss with the attorney if probate is necessary given the approximate asset value of the estate.

4. Get a “Date of Death” Appraisal of any Real Estate Assets. You will need this for tax/accounting purposes, and this step often gets overlooked. Definitely consult a CPA if you have not done so already, as you will likely need to file tax returns on behalf of the trust estate.

5. If Necessary, File for Probate. If probate is necessary, file the will and a petition for probate in the appropriate California Superior Court. I have seen some people try to navigate this legal process themselves, though you really should work through an attorney.

6. Follow the Steps of Probate. There are many, and be patient because it takes a little time. The court will appoint an Administrator of the Estate or an Executor of the Estate. There is a formal process to notify beneficiaries and heirs, notify and pay-off creditors, inventory the estate, etc.

7. Open a Probate Estate Bank Account. Open a separate bank account in the name of the probate estate to manage expenses and distributions. If you sell real estate as a part of the probate estate, the net proceeds of the sale will likely need to go into a probate bank account.

8. Manage and Distribute Assets. Follow probate steps regarding how assets should be managed and distributed to beneficiaries. This may involve transferring property titles, selling real estate, or liquidating assets. Again, feel free to reach out to me for help with selling real estate held in a probate. There are several things to do in order to prepare a property/home for sale - and I can assist you, and connect you with contractors and other service providers who can do the heavy lifting as well. I welcome your call at 916-342-1372.

9. Keep Records. Maintain detailed records of all transactions, expenses, and distributions made from the trust. This documentation will be important for transparency and accountability.

10. Close the Probate (if applicable). Once all probate obligations fulfilled, formally petition the court close the probate according to its terms.

This is a general list, so again please be sure to consult the appropriate qualified professionals to give you more specific guidance.







Erin Stumpf, Coldwell Banker Realty, California DRE# 01706589