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Ohana Legacy Properties Recommends Ways to Avoid Probate

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Ohana Legacy Properties Recommends Ways to Avoid Probate

November 22
06:02 2022
Ohana Legacy Properties Recommends Ways to Avoid Probate
Let Ohana Legacy Properties Help You Go Through the Probate Process in Houston TX

How Ohana Legacy Properties Can Help Homeowners Prevent Their Homes from Going into Probate

Following a person’s death, their will and assets will have to undergo probate before an executor can distribute the assets. Unfortunately for the surviving family members, this can entail unnecessary costs and delays. Ohana Legacy Properties, a cash homebuyer in Houston, Texas, suggests that homeowners can take steps before their passing to prevent this from happening to their real estate property. 

By preventing their property from falling into probate, homeowners can ensure either a seamless transition of property ownership or a more convenient solution for their family members. This helps the homeowner and their surviving members in terms of privacy, costs, and time, while also helping surviving family members deal with what to do with the property, such as selling their parents’ home. 

Ways to Avoid Probate for Properties in Houston, Texas

To prevent one’s property from going into probate after their death, a homeowner can do the following to ensure one or more of their real estate properties are not included in the probate process. 

Retitling Assets

Assets jointly owned by multiple people do not have to undergo probate. Upon a homeowner’s death, ownership will transfer to the joint owner. For instance, upon a person’s death, ownership of their marital home will go to their spouse without the property having to undergo probate. 

This means that bequeathing the property to someone or at least giving joint ownership to another person or organization means that ownership will transfer to them without undergoing probate. However, this may be subject to claims. This may also disqualify homeowners from certain government benefits if sole ownership is a requirement for certain government programs. 

Creating a Revocable Living Trust

A grantor can create a trust managed by a trustee. This trust can include several types of assets. The grantor can then name themselves trustee to keep control of the assets until their death, and then assign a successor to distribute the assets accordingly. 

This process allows the grantor to keep ownership of their assets during their lifetime and then easily transfer the trust to be distributed without having to undergo the probate process. 

Selling Their Assets

Selling assets before one’s passing can reduce the number of assets that need to be probated. The proceeds from the sale can then be distributed accordingly depending on how the homeowner wants to divide the assets. If they are the only owner of the property, they can decide how this will be divided.

However, time is of the essence. Selling the traditional route through the real estate market can take several months to find buyers who can give a good offer. This is then followed by weeks of closing, which can be subjected to delays. Ohana Legacy Properties recommends selling to a cash homebuyer in Houston, TX instead as it allows homeowners to sell their property within a fraction of the time it takes to sell on the market. 

Get in Touch with Ohana Legacy Properties for a Cash Homebuyer in Houston, TX

Ohana Legacy Properties purchases houses directly from homeowners who want to sell their properties fast. With local certified probate real estate specialists, their team provides a fast and easy way to help homeowners and families avoid probate or deal with houses in probate. 

Schedule a call with the team of Ohana Legacy Properties at (832) 402-6181.

Media Contact
Company Name: Ohana Legacy Properties, LLC
Contact Person: Sal Scibilia
Email: Send Email
Phone: (832) 402-6181
Address:801 FM 1463
City: Katy
State: TX
Country: United States
Website: ohanalegacyproperties.com