Probate Issues

If you’ve experienced the death of a loved one or business partner you may be navigating more than grief. Facing probate (the legal process for recognizing a will as valid and distributing assets to beneficiaries) is a process best addressed with the guidance of an attorney.

The value of due diligence in probate cases cannot be overstated. When dealing with the will and assets of a deceased party, there’s no shortage of complications that can arise.

Due diligence ensures the person you’re contracting with has the power to contract with you in the first place. This step is vital because otherwise, the transaction may be found void as a matter of law and any money you invest in that property could be lost.

Another key consideration in these cases is whether the executor is required to get court approval to sell the property or not. Determining if the executor had representative capacity at the time of the contract is key to determining if any contract for the sale of the real estate asset can occur.

In cases where court approval is deemed necessary, a judge will need to approve the transaction. At this point, he or she may determine there is an issue with the transaction, and a lawyer’s support from the outset of this process, including due diligence, can in many cases address or even prevent such an issue.

Even in cases where there is no need for court intervention, there is still the necessity to notify the heirs of the proposed transaction and to give them the opportunity to object. A lawyer’s support here can make a challenging situation less fraught and can remove impediments to the successful acquisition or sale of real estate assets.