A Certified Probate Real Estate Specialist (CPRES) is a real estate professional who has undergone specialized training and certification in dealing with probate real estate transactions. They have expertise in handling properties that are part of an individual’s estate after they pass away. These specialists can assist both executors of estates and beneficiaries in selling or managing real estate assets during and after the probate process, providing valuable guidance and support throughout the transaction.
Someone passes away: Probate can begin when an individual passes away, and their estate (assets and belongings) needs to be legally managed and distributed.
- If there’s a will: If the deceased person left a will, it is indeed a legal document that outlines their wishes for the distribution of their assets. However, a will is not automatically effective upon death. It must be submitted to the court and filed with the courthouse to initiate the probate process. When there’s a will, the deceased is said to have died “testate.”
- In the will, the person often designates an executor (sometimes called a personal representative) to carry out their wishes as specified in the will. This executor will typically oversee the probate process.
- If there’s no will: In cases where there’s no will, the individual is said to have died “intestate.” When someone dies intestate, it means they didn’t leave specific instructions on how their assets should be distributed.
- In such cases, someone (often a family member) will need to step forward and initiate the probate process. The court will then appoint an administrator to handle the estate. This administrator is typically a family member or another interested party.