What is probate?
Probate is the official process in which a deceased person’s estate is distributed to their heirs, under the supervision of the court. In the unfortunate event of someone’s passing, probate essentially freezes any transfer of assets until all heirs have been identified and notified, all assets have been identified and appraised, and all bills and taxes have been made current. The court then distributes the remaining assets to the heirs, and the probate process comes to a close.
What’s wrong with the probate process in New Jersey?
Unfortunately, probate rarely ever goes as smoothly as it may sound. Probate becomes tricky when there is more than one heir, and especially so when the heirs do not get along or cannot agree on a fair distribution. Mix that in with an array of tangible assets in the estate, and the process can become extremely drawn out. Keep in mind that no one is paid off until everyone agrees to the distribution.
So how are all the tangible assets distributed evenly? Typically they are liquidated, converted into cash, and then divided. Real estate usually winds up being the slowest asset to liquidate. Especially when considering the average days on market for houses in New Jersey is currently around six months. That means six more months of you paying the mortgage, taxes, and utilities on that house, not even including any repairs you may be requested to make by a potential buyer. Nor the likely possibility of the house taking longer to sell, nor the six percent realtor commission that will eventually be deducted. Worse yet, that means six more months before the Will can be distributed and probate closed out.
Probate in NJ is often assumed to be an expensive and complicated process that must be avoided if you want to sell your house fast. It is not. Probate in Bergen County is a relatively simple and inexpensive process. An individual can complete probate in Passaic County the Last Will and Testament of the decedent in the surrogate’s court through simple procedures, with or without the assistance of a lawyer. Just appear in surrogate court between 8.30 a.m. to 3.30 a.m. on any business day with proper information and documents to complete probate in Sussex County. The cost of completing the probate in Essex County is generally $100 to $200. The surrogate’s court works with you in competing procedures of the probate in Morris County, while Turbo Home Solutions will help you dispose of the largest and slowest moving item on the list: the house.
Don’t drag out the process
Why take a large risk waiting to sell your house on the market when we can buy your house in cash in as quickly as 7-10 days? No repairs, no realtor fees, no hassle. If you are in the probate process, you already have more than enough to deal with. Let us help take some of that off your plate.