Write your WILL....It doesn't mean you're going to DIE IMMEDIATELY!

By
Real Estate Broker/Owner with Gwynn Teal Carpenter-Broker: Home and Hearth Realty (Austin)

 

Write your WILL....It doesn't mean you're going to DIE IMMEDIATELY!

 

Last willWriting your will doesn't mean you are going to die immediately.  It means you are being proactive and making the decision to pass on your worldly goods to the ones you love (or dislike).

If you die testate that's good!  It means you have a valid will.

Dying intestate means you DON'T HAVE A WILL!  O Boy...now your relatives are going to be "ticked off" at you and you won't be around to enjoy it. If you don't have a will then all kinds of complications can set in....so let's really talk about what this means from a Realtor's point of view. (I cannot give legal advice but I can tell you what a mess trying to sell an estate can be if someone died intestate - without a will).

Every state has different laws as to who will receive your estate IF YOU DIE INTESTATE.  So be sure to check with an attorney in your state.

Currently I'm working with a client who has a mess as she's trying to sell a home.  Her parents had a will (died testate) but she chose NOT to probate (have the will read and administered through the courts) the will and this too is causing issues.

As a Realtor we have to ask questions when we know a home has been acquired through inheritance.  These questions may seem as though we are invading your personal business but it will help to know if there's "clean title" or an "unencumbered title" to pass to a buyer.  The more we know the easier it will be when closing approaches....that's also why you want to purchase a title policy as this too will show who owns the home and show the chain of ownership.

So let's sum this up:

·        Locate a good Estate or Real Estate Attorney Attorneytitleand have your will written based what your intentions are about your estate.

·        Probate a will as quickly as possible after someone dies so the estate has clear title to pass on any property.

·        Keep your will current.  Review yearly. 

·        Talk with your trusted Realtor if you think an estate may have "title" problems....your Realtor can guide you to the right people to help.

·        Be proactive with your family and friends when it comes to talking about wills.....make it your mission to have all within your intimate circle have a legally current will.

 

Posted by

**************************************************************************

Home and Hearth Realty, Inc.

**************************************************************************

 

Gwynn Teal Carpenter ... the Realtor with an Austin Attitude - laid back with professional results!

Making real estate fun and exciting in Austin, Texas and the surrounding area. Home and Hearth Realty helps you find your way in the real estate maze. We talk with you in a relaxed informal manner and guide you through the process whether you are selling your home or purchasing one. We work for you, and explain everything in terms you can understand.

Check out my real estate philosophy - www.homeandhearthrealty.com

Austin Board of Realtors and San Antonio Board of Realtors

Questions about real estate, Austin Texas, relocation or anything else will be gladly answered if you shoot me an email to: 

gwynn@homeandhearthrealty.com

Comments (7)

Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Gwynn, your post is worthwhile for readers who may not understand the importance of having a will and the implications of not having a will. Many transactions come to a grinding halt when the title company finds that the decedent's will has not been probated.

Jan 08, 2012 12:57 PM
Gwynn Carpenter
Gwynn Teal Carpenter-Broker: Home and Hearth Realty (Austin) - Austin, TX
: Broker, Home & Hearth Realty (512)467-6191

Sharon:  I'm dealing with a doozie now and one of my agents is trying to get a purchase for her buyer closed that has 17 heirs (and no Seller Agent involved).  It's a nightmare for us at times but this is our chosen profession and if we can help just one person realize HAVING A WILL WRITTEN isn't going to cause their death, it will be worth it!

Jan 08, 2012 01:08 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Gwynn - It is true, when someone prepare a will it does not mean will die immediately.

Jan 08, 2012 01:24 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Hi Gwynn,

You are so right..get a will and them review periodically! Your family will be left with a mess if you don't and the state will get more of your money:).

Jan 08, 2012 02:03 PM
Gwynn Carpenter
Gwynn Teal Carpenter-Broker: Home and Hearth Realty (Austin) - Austin, TX
: Broker, Home & Hearth Realty (512)467-6191

John:  I've heard of many folks who will not have a will written cause of impending DEATH!  Everyone has something they fear.

Dorie:  Wills, medical directives and any other legal document are a must.  Do them and Review them.

Jan 09, 2012 04:05 AM
Not a real person
San Diego, CA

Very useful post. I'm putting it on my Sunday reblog list, and I know at least one other person who will do the same.

Jan 10, 2012 11:07 PM
Gwynn Carpenter
Gwynn Teal Carpenter-Broker: Home and Hearth Realty (Austin) - Austin, TX
: Broker, Home & Hearth Realty (512)467-6191

Russel:  It would be super to see this post re-blogged....it's something we all need - it's not just local but national!

Jan 11, 2012 02:10 AM