Understanding the Basics of Probate Process in New Jersey

Planning for your estate prior to your demise is always a better solution. This way, it is confirmed that your estate is safe and passed on to the people you have loved the most. There are many methods to secure a possession (after death), so understanding the basics of probate is necessary.

What is probate?

Like you and I, there are still many, who hardly have any idea of probate, let alone its distinctive procedure. It is a legal process that occurs shortly after the death of a family member, who was actually the WILL HOLDER of the family. In New Jersey, probate occurs typically in eleven days post demise. The process involves identification, subsequent evaluation of the possession of the decedent, validating the will, appropriating taxes and paying all outstanding debts. More so, there are lawyer fees and court fees involved that are procured from the estate property.

Probate initiation process

New Jersey probate process starts with the executor appointed to file will paperwork. This further includes application for probate, and death certification at the Surrogate’s Court in decedent’s state at the time of death. The selection of executor in probate process is typically done in two ways – either the Will Holder had already named him on the Will or appointed by a judge. File paperwork entails a will, if there is any authentically created by the decedent prior to his/her demise, to be validated by the probate court along with a list of inheritors, possessions and debts. Following this, family members and creditors are notified with a Probate Notice typically distributed by the executor.

While in the process

For a successful administration of this entire probate process, the executor is responsible. The executor is typically tasked to have valuables appraised, and if necessary, selling the house to off the outstanding debts or taxes. This is where the inheritors have to face predicaments waiting long for a suitable buyer. Often, families or agents do not agree to buying a house that is in probate process, because of a bunch of legal needs and deeds attached with it. The one solution that remains undisputed is approaching a real estate investor. With an investor, there comes no commission fee, nor even closing fees. More so, an investor buys properties which are in probate process.

Selling an inherited house that is in probate to an investor is a shorter, smoother and cost free process. You can directly put your calls to Turbo Home Solutions, if you are look forward to quick sale property in New Jersey.

We are here for you if you ever need any advice. Contact us today at info@turbohomesolutions.com or 973-963-7776.