be needed to determine the value of real estate and to perform other functions. Even absent a will in e ff ect at their time of death, if there’s a valid living trust the lengthy and costly process of probate can be bypassed, avoiding fees that include attorney, court, and arbitrator costs. In total, these fees can cost a solid 6% of the overall estate value, whether that value is represented by boats, cars, bank savings, retirement funds, securities, personal items, or the real estate itself. However, you can proceed with the actual probate by yourself if you choose to, although it’s a complex process perhaps best le ft to the professionals. Th e county court clerk for your area will provide the forms to fi ll out, with one to publish to all the deceased’s creditors. If real estate is involved in the will of the person who’s deceased, the executor may request for themselves to be nominated through estate laws in your state, so the property in the will won’t have to go through the con fir mation process in court. Th is will save both money and time, as the house can then be listed and sold like any other home. Th e executor will accept the best o ff er and proceed to sign and close the deal when going through the process like any other real estate transaction, but without all the requirements for a real estate transfer disclosure. As a precaution, the executor or the administrator will have any other heir sign a waiver for the notice of the proposed action. Because the courts are involved with probate selling, trust and probate sales have a diff erent vocabulary compared to regular real estate. Probate sales also involve multiple contracts and disclosure statements that aren’t used with standard real estate transactions. If you’re buying or selling real property through a probate transaction, then you absolutely must use a real estate agent who 120
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