Administrating an Estate?
Are you the administrator or personal representative of an Estate that is still in probate? Are you considering applying to be the administrator or personal representative of an Estate? There are many good reasons to serve in the capacity of an administrator or personal representative. First, the decedent may have designated you to serve in her Will. Second, you may feel a moral obligation to settle the Estate for you and the other beneficiaries. Third, you may have heard there’s a fee involved for administering the Estate and you just want to get paid. Finally, you may feel you’re the only responsible person who should be in charge of managing the Estate so that the probate can move through the courts as quickly as possible.
Regardless of how you became the administrator or personal representative of the Estate, you are now the most important part of the probate process. You have to find the Estate’s assets and the Estate’s creditors. You may have to find beneficiaries of the Estate. You will have meetings with the probate lawyer that you probably had to hire. You’re going to have to arrange to liquidate estate assets by coordinating with other 3rd parties, such as real estate brokers and other vendors.
Because you are the responsible person who is now the personal representative, you will administer the Estate, meet with lawyers, meet with creditors, and make decisions on behalf of the beneficiaries; you will also be in a position where you likely will have to manage the Estate’s beneficiaries. That means you need to first understand the probate process yourself, including the steps of probate and the likely time it takes to complete the probate process. Once you feel you have such an understanding, you need to then communicate with the other beneficiaries who all want their inheritance months ago.
What do you do when you’re trying to maximize the value of the Estate’s real property, but the beneficiaries want you to immediately sell that property for tens of thousands of dollars less than the fair market value? What are your options when the beneficiaries send you multiple emails and texts demanding that you complete the probate immediately and pay everyone their inheritance? Clearly, beneficiaries of estates who are not acting as the administrators or personal representatives and do not understand the probate process are going to be calling you often for updates, information, and explanations, much of which will not appease them.
ProbateCash is a potential option for administrators and personal representatives. There are multiple ways ProbateCash can assist with the issues that administrators face on a daily basis. ProbateCash provides advances to beneficiaries of estates against the anticipated inheritance the beneficiaries will receive once the estate assets are ordered to be distributed. Without delaying or inconveniencing the probate process, ProbateCash provides upfront money within 24 hours to beneficiaries of estates. The contract is between only ProbateCash and the beneficiary who is receiving an advance. None of the other beneficiaries are adversely affected.
As the administrator or personal representative receiving frequent communications from beneficiaries wanting their inheritance, you can refer those beneficiaries to ProbateCash to see if an advance makes sense. Receiving some of the inheritance in the form of an advance today often takes some pressure off of these anxious heirs who are causing you stress. That stress can cause you to make hasty decisions, such as selling the estate home for significantly less than fair market value. Selling the estate property for less than market value hurts all of the beneficiaries and even reduces the fee that the personal representative is entitled to receive for administering the Estate.
Advances from ProbateCash to beneficiaries buy time to properly administer the Estate without the pressure from other beneficiaries. Instead of making hasty decisions, you can liquidate assets for fair market value. Speaking of fair market value, many estate properties need some renovations or repairs to obtain maximum value. In many instances, $25,000 of repairs to an estate property can mean an increased purchase price of more than $100,000. ProbateCash provides advances specifically for that purpose. ProbateCash can provide an advance to maximize the value of estate assets and provide advances to beneficiaries to buy the time everyone needs to make those repairs.
As the administrator or personal representative of the estate, you have significant responsibilities. Just like you know, when calling a probate attorney, realtor, or other third parties, knowledge is important. Knowing that ProbateCash is a company that can help you or the beneficiaries with quick upfront money is a tool you should know exists and how to best use.
Contact ProbateCash yourself or refer beneficiaries to ProbateCash who can’t wait for the probate process to end before receiving their inheritance. ProbateCash has advanced millions of dollars to beneficiaries throughout the country in a transparent and professional manner.
To learn more about ProbateCash, you can check out my other blogs.
