Probate Trust Sales: What Should You Do?

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Probate Trust Sales: What Should You Do?

If your loved one left behind an extremely large estate, you may need to sell some of the furnishings and other items in the estate soon. But if the idea of selling your loved one's belongings upsets you, ask a real estate agent to assist you. An agent can help you set up a trust sale for your loved one's belongings. Learn more about trust sales and how an agent can help you sell your loved one's items below.

What's a Trust Sale?

As the executor or administrator of your loved one's estate, you may be obligated to distribute most of their belongings left behind in their estate. However, selling your loved one's belongings may not be something you feel comfortable doing right now. Large estates can be difficult to handle, especially if they contain large amounts of furnishings, clothing, and other valuable items. If you don't set up the right trust sale, you may not sell everything in your loved one's estate fairly. 

A trust sale is the selling of a deceased individual's belongings, properties, and other valuables to someone or something else. You, the executor, must manage and oversee the sale until it concludes, or ends. You must also be sure to price the items fairly and distribute the proceeds to everyone listed in the deceased individual's will at the end of the sale. If you don't know how to appraise or price the items in your loved one's estate fairly, the individual's beneficiaries may not receive their fair share of the proceeds. 

If you reach out to a real estate agent who specializes in estate sales, you can set up and manage your loved one's trust sale successfully. 

How Do You Set Up a Trust Sale?

A real estate agent may have each item in the estate appraised before you place it up for sale. An appraiser can determine the value, or worth, of each item before you set a price for it. If you don't understand how the appraisal process works, speak to an agent immediately.

After an agent receives the correct appraisals for each item in the estate, they'll help you advertise the sale. The advertisements will help ensure everyone in the community learns about the trust sale on time. It may be necessary to place advertisements in your local newspapers to help get the word out about the sale. 

An agent may also assist you with the sale of the property in the future. The other members of your family may or may not wish to keep the home after the trust sale. You can either list the home for sale during the trust sale or wait until later to complete it. 

Learn more about trust sales by contacting a real estate service such as Maher Probate Realty today.  

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Homes, Properties, Buildings & More: A Real Estate Blog When you think of real estate, what comes to mind? Most people initially think of homes, and indeed, private residences to comprise a pretty big portion of the real estate market. However, empty lots, office buildings, and commercial buildings are also considered real estate. When shopping for any type of land or property, you need to ensure the real estate agent you hire has expertise in the particular type of property you want to buy. For instance, you don't want to hire a commercial real estate agent to help you buy a home. Learn more about the intricacies of real estate on this blog.