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Posted 1 year ago

Why does the probate process take so long?

adambuysdenverco.com/blog/probate-take-long/

The probate process can take so long and get quite complex as it consists of several steps, the basic ones being: petitioning the court, approving the executor, notifying all parties, transferring of assets and paying off debts, and closing the estate.

Because it’s such a long process, a hold up at any point in the process can mean major delays. Here are a few examples of issues that can cause holdups:

A slow start getting the petition to the court
Having a lot of complex assets to manage
Having more debt than assets
The decedent did not have a Will
Delays with tax returns or other tax issues
Family disputes
Multiple beneficiaries
Real estate owned in more than one state
Generally the less complicated and detailed the assets are, the more likely it is to move quickly. However, when a probate attorney gets involved, it can mean more delays.

Probate is the process where all of a deceased person’s debts and assets are finalized by the court. During this time, assets are legally transferred and taxes and debts are paid off.

www.adambuysdenverco.com is a house buying company and as real estate investors we can only help in probate with making an offer to purchase any real estate involved. We are not a law firm, we are not attorneys and we do not provide legal advice.

#probate #realestate #realestateagent #sellingahouse

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