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To inherit property from someone who has died, you first need to figure out what legal process is required to transfer the property. Sometimes you must go to court (probate), but in other cases you may not. One of the first steps is identifying the correct person to handle the estate. Who handles probate matters? Usually, the person named in the will—often called the executor —is responsible for handling probate. If the will names more than one person, they must make decision

Marketing the property to get the most buyers and ultimately the highest price is both art and science.

Once you have cleared the property to sell legally you will then have to prepare it to sell physically. Here is a five step guide on what to do to prepare your inherited property for sale: Five Steps to Take Before Listing Your Home 1. Consider a pre-sale home inspection A professional inspector can identify issues that might concern potential buyers. Knowing about these problems ahead of time allows you to make repairs before showings and avoid surprises during negotiations

There are many tax questions and concerns as it relates to the liquidation of inherited real estate. The following is taken from the IRS.gov website: Question Is money received from the sale of inherited property considered taxable income? Answer Generally, the gross proceeds from the sale of inherited property are included in gross income when considering the need to file. If there’s a filing requirement, report the sale on  Schedule D (Form 1040), Capital Gains and Losses

Having a loved one in the hospital, or losing a loved one is a sad and difficult time for family, relatives, and friends. There may be questions about how medical decisions are made if the loved one can no longer make their own decisions. If someone passes, those left behind must often figure out how to transfer or inherit property.This Guide has information to help you create the legal documents you or a loved one may need to have a plan if you become sick, and information a

At ProbateTrustandEstate.com we offer a variety of services to guide people through the process of inheriting real estate. The inheritance of real estate is usually the biggest financial transaction in a family's life and even though many cases have similarities every individual case is unique. Along with the unique nature of inheritance there can be heightened emotions related to the process and it is imperative to have an objective expert guide you through the process. I

Thank you for visiting probatetrustandestate.com . We are here to help you with any questions related to probate, trust and estate liquidation. We are a real estate firm with over 40 years of dedicated experience in the greater Los Angeles real estate market and we specialize in selling inherited real estate. The first thing to discuss is whether or not the property to be inherited has a trust or will. Often times if there is no trust the property must be liquidated through