Utah Probate Real Estate Services

Some Simple Answers About The Probate Process

What is the Purpose of Probate?

When someone passes with or without a will in place, there is the need to have an orderly and fair transfer of their property. This process is called probate. Probate is the legal process for the transfer of assets such as houses, cars, stocks, bonds, boats, etc. from the deceased person’s name to his or her estate.

Its purpose is three fold:

1. To safeguard all of the personal property and real property they owned (their estate).
2. To make sure all bills, debts of any kind, and taxes of the estate are paid in full.
3. To pass on any remaining property and cash from the estate to their rightful heirs.

Once this is complete the estate is closed.

Who is Responsible for Handling the Estate?

One very important part of the probate process is to identify who is responsible for carrying out the three fold purpose. The one who is appointed to do this is known in the State of Utah as the Personal Representative or PR. In the legal paperwork the PR is usually indentified as the executor or the administrator. It is their fiduciary responsibility to manage and finalize all of the affairs of the estate.


The PR is Responsible for the Following:

1. To notify all those to whom money is owed (the creditors) that a probate proceeding is in place.
2. To list all of the deceased’s belongings and safeguard them for proper distribution.
3. To file and pay all local, state and federal income taxes.
4. To sell personal and real property assets so the estate can pay its financial obligations.
5. To give the remaining property and financial assets to the rightful family members (heirs).

When Is Probate Necessary?

There Are Three Estate Conditions That We Look At:

• The first is an estate where there is a fully funded trust in combination with a pour-over will. Probate may be needed if probate assets were removed from the trust and not put back.
• Second is an estate with just a will and no trust, Probate is needed if probate assets exist.
• And, the third is an estate where there is no trust and no will. Probate is needed if probate assets exist.

What Assets Require Probate?

A probate asset is one in which the decedent owned solely by themselves at the time of their death and they left no indicated means of transferability from the decedent to another person or entity. This means there is no indication of estate assets being payable on death (POD), transferable on death (TOD), or held jointly with rights of survivorship (JTWROS).
NOTE: When any of these three statements show up with regard to specific estate assets the asset is not a probate asset and does not need a probate process to transfer the proceeds

Examples of Probate Assets:

1. Real Estate titled solely in the name of the decedent.
2. Vehicles Boats, and aircraft titled solely in the name of the decedent.
3. Bank accounts solely in the name of the decedent.
4. Any insurance or investment proceeds naming the decedents estate as beneficiary.
5. Any items held by the decedent as TIC (tenants-in-common).

Do Living Trusts Have To Go Through Probate?

In the case of a fully vested living trust the answer is no. However, there are times when real estate is removed from the trust to refinance the home and then forgotten about and not put back in the trust. In this case, if the owner has passed away, the real estate now must go through probate to put it back into the trust.

How is Utah Probate Real Estate Services and their Certified Probate Real Estate Specialists different from other real estate agent's?

Bottom line, it's their knowledge of the probate process. They are certified probate real estate specialists. They've been trained, tested, and certified through U.S. probate services the Nation’s leading free consumer resource on probate, conservatorship, and estate settlement procedures. They are trained, tested, and certified in the judicial probate process. They understand the process and know what you're going through. They handle all of the transactional details required to liquidate real estate from the decedent’s estate making the probate process easier for you as the personal representative of the estate. This allows you to focus more intently on other obligations you have related to the probate process.

Just A Note For You

To Executors, Administrators and Personal Representatives

The Role you undertake is a very important role of fiduciary responsibility. It can be overwhelming to say the least. You are now or soon will be faced with the responsibility of managing and liquidating the estate according to the desires of a loved one or someone close to you who is now deceased. Fulfilling their wishes is now your opportunity and responsibility.

We are here to make this process timely and manageable. Becuase we are certified in the probate process, it means we understand what you have gone through, what you are going through, and what you will be faced with in handling and finalizing the estate. Our purpose is to make that process simple for you as the Executor, Administrator or PR (personal representative) of the estate. Utah Probate Real Estate Services and their professionally trained asset liquidation specialists are well-versed in all three of the conditions that require probate proceedings. We are here to help you with the real estate asset liquidation process.

When the estate falls short of cash to pay its bills, liquidation of real estate assets can become a necessity. The largest asset in any estate is the real property. Turning that real property into liquid assets (Cash) is what we do. We work within the Utah probate process to help with the liquidation of real estate that exists within the estate by assisting the PR who has been given that responsibility to handle all the affairs of the estate whether the estate has a trust and a will in place, or just a will is in place without a trust, or perhaps a will and trust were never created at all. No matter which of these conditions exist, William Lott and Utah Probate Real Estate Services can help make the process work with less stress.

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