Probate is simply the process of administering a decedent’s estate. Most of us have heard the stories about how long and headache filled the probate process usually is, and we dread it when we actually have to face it.
The reality, though, is that done right, the probate process for a house in Fort Myers can be as simple as four easy steps. The flip side is that both the dread and simplicity often open people up to certain probate scams. Let’s take a look.
The Probate Process for a House in Fort Myers – How to Avoid Getting Scammed
Probate Process for a House in Fort Myers
Without the right kind of trust in place, probate usually follows a person’s passing. Probate is the process by which the decedent’s debts are settled and his or her property (held on his or her name alone and not otherwise legally distributed) is transferred to beneficiaries and heirs.
Typically, the probate process follows four steps.
- The first step involves filing a petition with the probate court to admit the will and appoint an executor or, if there’s no will, to appoint an administrator of the estate. A hearing date is set, and notice of the hearing is published locally.
- After being appointed by the court, the decedent’s personal representative gives notice to all creditors, and an inventory of the estate is made.
- After determining which claims are legitimate, the personal representative pays all expenses, debts, and taxes from the estate. Sometimes, this involves selling estate assets to meet obligations.
- Assets (legal title to a house, for instance) are disbursed according to the decedent’s wishes expressed in the will or, in case there is no will, according to the state’s intestate succession laws.
And that’s it for the probate process for a house in Fort Myers and for the entire estate as well. Just be wary about any scams that may pop up along the way.
Common Probate Scams
These are some new twists on old scams that owe their re-birth (and effectiveness) chiefly to the Internet and email. They always, however, target the vulnerable.
- Probate Avoidance Scam – This scam typically preys on the elderly, aiming to convince them to purchase deceptive products, such as an exorbitantly priced living trust kit, under the false promise of avoiding probate. Once the perpetrators secure the funds, they either fail to deliver the promised product or provide an item that is legally ineffective.
- Inheritance/Estate Tax Scam – In certain states where inheritance or estate taxes are still applicable, scammers exploit unsuspecting individuals by posing as trusted persons or organizations. They reach out to potential executors or personal representatives, falsely informing them of a substantial inheritance. However, the scam involves a deceptive twist – victims are told they must send the scammers an exaggerated amount for taxes, claiming that in these states, the tax must be paid before probate can proceed.
- Fraudulent Listings Scam – This one owes its effectiveness to the popularity of sites like Craigslist for home shoppers, especially renters, and applies particularly to the probate process for a house in Fort Myers. Scammers research the property of recently deceased individuals and advertise it for rent. Then, when the scammers collect the deposit and first month’s rent, they disappear, leaving the people engaged in probate to deal with the upset victim.
If you’re facing probate, especially the probate process for a house in Fort Myers, it’s probably not as ominous and frightening as it first seems. Knowing what it involves and being aware of the common probate scams are good first steps – but there’s more to consider.