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Probate, Estate Planning and the Hispanic Community (Any Community)

7/23/2014

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Alberto Rosas, a lawyer, gave us a presentation at the National Association of Hispanic Real Estate Professionals of Alameda County, NAHREPAC, some time ago. I thought it was darn good so I asked him for his presentation slides. See below.

One note, the presentation is entitled "and the Hispanic Community" but it really applies to all communities. By the way, Uno is One, Dos is Two, and Tres is Three, for those of you who are Spanish challenged.


I was surprised to learn that Probate cases make up about 1 out of 5 general civil cases, and that 55% of USAers (Americans) do not have a will or other estate plan! Higher for Hispanics!!

It forced me look at my personal matters with my family and I told my parents, brothers, and sisters about the importance of a will, living trust, and estate planning. I know nobody wants to hear about these things but suddenly decades go by and there you go...and the heirs fight over the inheritance.

I hope you like the probate presentation slides. If you have any real estate questions call me.


If you want to contact Alberto Rosas, you can do so at 510.237.3700. He is now with Watson, Hoffe, and Hass Attorneys at Law.



Hispanic Community

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Asset Erosion Due to Probate

6/3/2012

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PictureEast Bay Probate Sales
A probate sale erodes the family assets in two ways:
  1. Less buyers. Buyers usually don't understand the probate process so they get scared. They are afraid of losing their earnest money deposit if they back out. A buyer usually has to put 10% earnest money up front. (Some people are afraid to go to court.)
  2. Legal fees. The lawyer handling the estate has to be paid. The courts have to be paid. The probate appraiser has to be paid too.
These two losses can potentially cost the estate 20% of the the asset.

Something else:
  1. Loss of time. A probate sale takes longer to sell than a regular sale, specially if the offer is financed as the buyer has to remove all contingencies before the seller can request a court date.
  2. Break Up Loss. Sometimes the best thing to do is to keep the assets whole as they are worth more together than separately.
For these reasons, I'm suggesting to homeowners to prepare a will and a living trust if possible.


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    Ernest is an experienced agent with Better Homes & Gardens in Oakland CA. This is his specialized website for probates.

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