May 17, 2017 robbykang

What is Probate Sales ?

There are two types of Personal Representative. Administrator (when there is no will appointed by court) or Executor (when there is will). Both administrator or executor initiates probate process (see probate timeline and duties). After taking initial steps by filing Petition for Probate court will issue "Orders for Probate". This form is required to sign for the listing agreement.

A document issued by the court clerk which states the authority of the executor of an estate of a person who has died. It is issued during probate of the estate as soon as the court approves the appointment of the executor named in the will and the executor's files a security bond if one is necessary (most well-drafted wills waive the need for a bond). Certified copies of the letters are often required by banks and other financial institutions, the federal government, stock transfer agents or other courts before transfer of money or assets to the executor of the estate. This document is required to close the escrow on the property.

When a judge appoints someone to decide where you live or what to do with your property. Someone who has legal authority to decide where you live is called a "conservator of the person." Someone who has legal authority to decide what to do with your property is called a "conservator of the estate."

Guardianship: If parents die without a will, a probate court will appoint guardian for underage children.Usually when one parent dies the surviving parent assumes full custody of any children. If both parents die, however, or if the surviving parent is unable to be legally responsible for the children, a guardian will have to legally assume the role. If there was no will or parents did not name a guardian in the will, a probate court judge will have to appoint one for their children.