does not review the ongoing performance of any Adviser, participate in the management of any users WebThe executor has a duty to ensure that a property is not sold below market value. Firstly, if the property is already in Trust, it may be nothing to do with the executor of the Will. He probably should have paid to get an appraisal done, in order to protect himself against claims that the sales price was not fair market value. 7) Check that the property is registered at the Land Registry. (Vic). Generally, the executor or administrator wants to sell the property as quickly as possible, often below market value. Summary probates end up costing the executor and beneficiaries much less time, money, and stress in the long run and keep legal fees to a minimum. During this appointment, other potential buyers will have the option of bidding, auction-style for the home. Your dislike for the real estate agent or the executor is not grounds for objection. Executors are required to finalise deceased estates within a reasonable time of the deceaseds death. Each state has different probate laws, but most require filing the will within a specific timeframe, which can be anywhere from ten days to three months after the date of death. Yes, the executor can sell the home without the approval of the beneficiaries. Some agents will try to beat the price down so they get a certain sale in days, sometimes to a crony who may be paying well below market price. Sometimes inheritance disputes end up in court. The point is to force the Medicaid recipient to deplete his/her own resources before the government takes over. Enroll now to get instant access to all content, updates and deals! The entitys only concern is that their balance is guaranteed. Heirs can gain title by contract to assets including life insurance policies as well as IRAs and other retirement accounts. Wanting to take care of loved ones once you are gone is important, but equally important is ensuring the structure put in place maximizes asset protection strategies and meets your goals.