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  1. #1
    Join Date
    Feb 2010
    Posts
    4

    Default Do I Sell Now or Wait

    State - South Carolina

    Mom passed in September, with no will. I am her representative. Probate has startd, done the newspaper notice and turned in the inventory.

    Insurance went to father as benficiary, bank accounts were joint with father as well. Their home is owned jointly but without the right of survivorship clause, there is a mortgage on the home. They also jointly own a few undeveloped lots without the right of survivorship clause. She owns a car that is paid for and of course personal items.

    I was told by probate court that I need to have everything out of her name by the time the 8 month probate period ends. There are 3 outstanding credit card bills, a mortgage, several doctor, ambulance and hospital bills due. Funeral expenses were paid by my father from insurance proceeds, and he has filed a claim against the estate to reimbursed.

    Should I sell her car and personal items and put the money in an estate account? Do I pay her debts with that money now or wait and see who files a claim? Since father already filed a claim, do I pay him first?

    The undeveloped lots will never sell, they are very sloped, wooded and in a neighborhood that has become crack alley. Is their home in jeopardy of being sold to pay debts?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Do I Sell Now or Wait

    If you cannot figure out how to handle the probate process, consider hiring a lawyer to assist you. You can also consider investing in a self-help book; I can't vouch for any for your state.

    Generally speaking you notify creditors and heirs of the estate, wait for claims to come in, propose a distribution, and get the court's authorization for the distribution after notice to the various interested parties (unless they sign waivers). If you need to sell assets in advance of the final distribution, you generally must get the court's permission.

  3. #3
    Join Date
    Aug 2009
    Posts
    121

    Default Re: Do I Sell Now or Wait

    I'll second KIA's advice to consult a lawyer. You have done most of the work and seem to have the information well organized, so you probably only need a single consultation. SC law will be important for questions like protecting the house from creditors, as this varies from state to state.

    Edward (not a lawyer)

  4. #4
    Join Date
    Feb 2010
    Posts
    4

    Default Re: Do I Sell Now or Wait

    I spent 1-1/2 hours with an attorney right before my mom passed. I knew the end was close and needed help on what path to take. I had done a lot of research and read the laws on probate for SC.

    I asked specific questions on items I did not fully understand. He didn't help me understand them any better. I had to give him references to look up. He couldn't believe I had read through the law.

    He gave me 2 pieces of advice. One, let him come to the house with his secretary and make a will for mom. (She flat out refused to make a will, stubborn to the end). Second piece of advise. Don't worry the ladies at probate are super nice and they will guide you through the process.

    So the consult an attorney thing didn't work for me. I really can't afford to see another attorney. When mom got sick, in August I had to cut my hours to part time, by October my job no longer existed. I'm paying her expenses and my own from an ever depleting savings.

  5. #5
    Join Date
    Aug 2009
    Posts
    121

    Default Re: Do I Sell Now or Wait

    Have you asked the "ladies at probate" for additional help, as the attorney suggested? Most people working at such places are eager to help.

    If that doesn't work, look for another attorney and ask if the initial consultation can be without charge. As with any relationship, not all attorney-client pairs work. Don't assume that because the first one didn't work, that it's not worth pursuing.

    If the estate is worth your time and cost to administer, you probably need an attorney's assistance. If you don't like this advice, don't expect it to change just because you ask again. If the estate is not worth your time and cost to administer, I believe you can resign as administrater -- those "ladies at probate" can probably tell you. It's likely to end up a mess, but you won't be dealing with it.

    Edward

  6. #6
    Join Date
    May 2008
    Posts
    582

    Default Re: Do I Sell Now or Wait

    Its nice the ladies at the court will help you through the process, but that doesn' t mean what they tell you is right. Whenever the ladies helped me, I later found out it wasn't always right.

    I've been handling my parents estate. There was a will and its still complicated. You have to hire the right help. Get a probate attorney to help with the estate, and you will need a CPA to complete the necessary tax returns.

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