I’ve sold several properties this year that were involved in a will, and any small mistake involved in that type of transaction can take a lot of time to get fixed.
Issues in these transactions can not only mess up real estate plans and cause financial issues, but they can also cause major strife within families.
In the past, for example, I had a client who was forced to hold onto a property and rent it out for several years instead of sell it like he wanted to because of problems with the property’s will. Another time, some clients of mine ended up fighting over what they put together because the will wasn’t worked out correctly like it should’ve been. It tore that family apart and a couple of them probably won’t ever talk to each other again.
The point is, if you own a property involving a will or a trust, visit with an attorney and make sure everything is prepared correctly. Enlisting the aid of an attorney is like hiring a real estate agent—you don’t want to just hire the first one who walks through the door. Interview several to make sure the plan you have is correct and everything is signed how it should be.
If you have any more questions about this topic or you need the name of a good attorney, don’t hesitate to reach out to me. I’d be happy to help you.