Showing posts with label Probate Leads. Show all posts
Showing posts with label Probate Leads. Show all posts
Monday, January 18, 2016
5 reasons why Real Estate Investors Fail
5 reasons why Real Estate Investors Fail
• Not finding the right deals
• Lack of prudent deal screening process
• Fund long term investment with short term funds/sources
• Buy as Get Rich Quick Option
• Lack of a mentor or guidance from successful investor
For motivated seller lists visit www.realsupermarket.com
#Probates #Foreclosures #inherited #Evictions #AbsenteeLandlords #VirtualAssistance #WebDesign
Thursday, April 29, 2010
Obtaining Cash For Inheritance Funding For Probated Assets By Simon Volkov
Cash for inheritance is an option available to heirs who wish to sell inheritance assets bequeathed to them through a Will or trust. When assets are held in probate it can take several months or years before final distribution occurs. If heirs do not want to wait for estate settlement, they can assign inheritance rights to a funding source in exchange for a lump sum cash payment.
Cash for inheritance can provide quick cash which heirs can use in any manner they desire. When a person dies their estate must undergo the process of probate, unless protected by a trust. Probate protects decedent's assets to ensure inheritance is distributed according to their last will. If no will exists, probate is required to determine rightful heirs and settle the estate according to probate laws.
Beneficiaries who obtain cash for inheritance advances are not responsible for repaying the funding source. Instead, the estate executor includes the assignment of inheritance rights into estate settlement. The funding source is the last person to be paid during estate settlement.
Traditional lending institutions generally do not provide loans to beneficiaries using inheritance assets as collateral because it is too high-risk. While there are a few inheritance funding companies, the most common place to obtain probate advance is through a private investor.
Heirs are required to provide financial records, current credit report, background check, and estate information. The funding source must verify the applicant is entitled to inheritance and conducts a background check to ensure the probate advance recipient does not have outstanding liens or judgments that could interfere with repayment.
Inheritance loan funding sources assume considerable risk. Not only do they have to wait for probate to settle, they also run the risk of the estate being financially unable to repay the cash advance. For this reason, funding sources do not provide inheritance advances for the full value of assets. Instead, investors charge an upfront fee ranging between 25- to 40-percent.
Cash for inheritance loans are generally reserved for heirs entitled to $15,000 or more. Funding sources are more apt to provide probate funds when inheritance is backed by collateral such as real estate or financial portfolios.
The process for obtaining inheritance funding typically takes two to three weeks. Once the funds are distributed, heirs can use funds to pay off credit cards and outstanding debts, for investment purposes, or for anything they desire.
Spending inheritance money frivolously is counterproductive. Remember, loved ones worked hard to obtain the assets they are passing along to family members. They are giving away their accrued property in hopes of improving the lives of designated beneficiaries. It is senseless to waste inheritance money on material things. Instead, use the funds to invest in your future.
The laws surrounding probate estates and inheritance property are complex. Prior to seeking out cash for inheritance funding it is recommended to consult with a probate lawyer. Heirs can locate attorneys who are well-versed in inheritance law by visiting the American Bar Association website at FindLegalHelp.org.
Simon Volkov is a real estate investor who specializes in probate liquidation and cash for inheritance advances. Currently, Simon is buying probate real estate located in Orange County, California, Arizona, Washington and Nevada.
Cash for inheritance can provide quick cash which heirs can use in any manner they desire. When a person dies their estate must undergo the process of probate, unless protected by a trust. Probate protects decedent's assets to ensure inheritance is distributed according to their last will. If no will exists, probate is required to determine rightful heirs and settle the estate according to probate laws.
Beneficiaries who obtain cash for inheritance advances are not responsible for repaying the funding source. Instead, the estate executor includes the assignment of inheritance rights into estate settlement. The funding source is the last person to be paid during estate settlement.
Traditional lending institutions generally do not provide loans to beneficiaries using inheritance assets as collateral because it is too high-risk. While there are a few inheritance funding companies, the most common place to obtain probate advance is through a private investor.
Heirs are required to provide financial records, current credit report, background check, and estate information. The funding source must verify the applicant is entitled to inheritance and conducts a background check to ensure the probate advance recipient does not have outstanding liens or judgments that could interfere with repayment.
Inheritance loan funding sources assume considerable risk. Not only do they have to wait for probate to settle, they also run the risk of the estate being financially unable to repay the cash advance. For this reason, funding sources do not provide inheritance advances for the full value of assets. Instead, investors charge an upfront fee ranging between 25- to 40-percent.
Cash for inheritance loans are generally reserved for heirs entitled to $15,000 or more. Funding sources are more apt to provide probate funds when inheritance is backed by collateral such as real estate or financial portfolios.
The process for obtaining inheritance funding typically takes two to three weeks. Once the funds are distributed, heirs can use funds to pay off credit cards and outstanding debts, for investment purposes, or for anything they desire.
Spending inheritance money frivolously is counterproductive. Remember, loved ones worked hard to obtain the assets they are passing along to family members. They are giving away their accrued property in hopes of improving the lives of designated beneficiaries. It is senseless to waste inheritance money on material things. Instead, use the funds to invest in your future.
The laws surrounding probate estates and inheritance property are complex. Prior to seeking out cash for inheritance funding it is recommended to consult with a probate lawyer. Heirs can locate attorneys who are well-versed in inheritance law by visiting the American Bar Association website at FindLegalHelp.org.
Simon Volkov is a real estate investor who specializes in probate liquidation and cash for inheritance advances. Currently, Simon is buying probate real estate located in Orange County, California, Arizona, Washington and Nevada.
Financial Planning When Someone Dies - What to Do and Who to Go To By Tracy Rice
A death in the state of Oklahoma leads the decedent's estate into the probate process and a filing of estate taxes. According to the website of the Oklahoma state government there are three tax forms that need to be completed. Completion of these forms begins with the 35 page Form 454 and it's 14 schedules ranging from Real Estate (Schedule A-1) to Oil, Gas and Minerals (Schedule A-2) to Intangible Personal Property (Schedule C-1).
Have I lost you yet?
We've only begun to scratch the surface of Oklahoma's estate tax process. Form 454 is 35 pages with 14 schedules and it is just the first of three forms to complete. There are estate exemptions for heirs that change depending on the year the person dies.
You have other concerns
When someone dies it's often hard to know what to do and who to go to first. There are so many things that need to be considered when someone close has died such as financial planning, estate conservation and taxation issues, but when we are in mourning these tasks can be the straw that breaks the camels back. When it's a close family member, we face the difficult tasks of saying goodbye by making final arrangements like the funeral and notifying others of our loss. Facing the loss of a loved one is hard enough without having to worry about their failure to plan their estate and their finances, but unfortunately it's the reality that many people face.
The questions of, "What to do and who to go to?" arise quickly at a time when we're probably not ready to cope with the legal or financial concerns of the deceased person's estate. We may look for someone we can go to, but who can help us when someone dies and their finances are in disarray?
Seek Out Professional Help
A professional financial planner, experienced in estate conservation and tax legislation, is your answer. In Oklahoma for example, the level of complexity regarding financial concerns depends entirely on how well the deceased planned his or her estate. When someone dies and no estate or financial planning has been completed, getting a financial planner to look through the finances is a sensible first step. This will solve your problem of what to do and who to go to, because a financial planner will be able to assist you in organizing and managing your loved ones assets and finances.
There are several categories of financial concerns and they include:
Bills
Life Insurance
Continuing a Business
Notify Employer or Pension Benefits Manager
Social Security
Credit Cards
The number of financial considerations alone can be overwhelming. If your loved one hasn't planned ahead these financial concerns then professional help is crucial for completing this process correctly. To these we can also add tax concerns that might cost heirs a lot of money and reduce the value of the estate. If the deceased made financial and estate plans during their lifetime, there will probably be returns to be filed and some tax due but, if the financial and estate planning has to take place after death then, the reality is that there might be substantial taxes due.
Tracy Rice writes article for Estate-and-Probate.com. The site is devoted to providing families with the help and resources they need in the days and weeks after a loved one's death. Estate taxes are tricky and best handled by professionals.
Have I lost you yet?
We've only begun to scratch the surface of Oklahoma's estate tax process. Form 454 is 35 pages with 14 schedules and it is just the first of three forms to complete. There are estate exemptions for heirs that change depending on the year the person dies.
You have other concerns
When someone dies it's often hard to know what to do and who to go to first. There are so many things that need to be considered when someone close has died such as financial planning, estate conservation and taxation issues, but when we are in mourning these tasks can be the straw that breaks the camels back. When it's a close family member, we face the difficult tasks of saying goodbye by making final arrangements like the funeral and notifying others of our loss. Facing the loss of a loved one is hard enough without having to worry about their failure to plan their estate and their finances, but unfortunately it's the reality that many people face.
The questions of, "What to do and who to go to?" arise quickly at a time when we're probably not ready to cope with the legal or financial concerns of the deceased person's estate. We may look for someone we can go to, but who can help us when someone dies and their finances are in disarray?
Seek Out Professional Help
A professional financial planner, experienced in estate conservation and tax legislation, is your answer. In Oklahoma for example, the level of complexity regarding financial concerns depends entirely on how well the deceased planned his or her estate. When someone dies and no estate or financial planning has been completed, getting a financial planner to look through the finances is a sensible first step. This will solve your problem of what to do and who to go to, because a financial planner will be able to assist you in organizing and managing your loved ones assets and finances.
There are several categories of financial concerns and they include:
Bills
Life Insurance
Continuing a Business
Notify Employer or Pension Benefits Manager
Social Security
Credit Cards
The number of financial considerations alone can be overwhelming. If your loved one hasn't planned ahead these financial concerns then professional help is crucial for completing this process correctly. To these we can also add tax concerns that might cost heirs a lot of money and reduce the value of the estate. If the deceased made financial and estate plans during their lifetime, there will probably be returns to be filed and some tax due but, if the financial and estate planning has to take place after death then, the reality is that there might be substantial taxes due.
Tracy Rice writes article for Estate-and-Probate.com. The site is devoted to providing families with the help and resources they need in the days and weeks after a loved one's death. Estate taxes are tricky and best handled by professionals.
Administrator Duties For Probate Estate Management By Simon Volkov
Acting as the Administrator for probate estates encompasses many duties ranging from making burial arrangements to dispersing inheritance assets. Two types of probate estates exist; testate and intestate. Testate means decedent's executed a last will and testament. Intestate refers to estates where no Will exists.
Being an Administrator can be a difficult and time-consuming task. This is particularly true when administering the estate of a spouse or direct lineage relative. In addition to coping with personal grief and administration responsibilities, personal probate representatives must also cope with grieving heirs.
With testate estates, Administrator's are appointed within the Will. When decedents die without executing a last will, a probate judge will appoint an estate executor. In most cases, judges will appoint the surviving spouse, adult children or relative. If family members are unwilling to fulfill estate duties, a probate lawyer or estate planner can be appointed to the role.
Most probate executors require legal assistance with filing documents and transferring financial holdings. This is especially true when real estate is involved or if heirs contest the Will. It is a good idea to retain the services of a neutral third party to manage estate holdings when family strife exists.
Will administrators receive compensation for estate management duties. Administrative fees are based on state probate laws and can be paid as a flat fee, hourly wage or percentage of estate value. While family members might feel awkward about receiving payment for services rendered, it is important to understand that settling an estate can require hundreds of hour's worth of work.
Common estate administration duties include: taking inventory of estate assets; obtaining property appraisals; sending out creditor notices and paying outstanding debts; managing real estate and financial portfolios; contacting government agencies such as Medicare, Social Security or Veterans Administration; filing the decedent's last will and death certificate through the probate court; filing a final tax return; and distribution of inheritance assets to heirs.
If designated probate executors are unable to take on administrative duties, they can submit a request to the court seeking dismissal. The judge will confirm another Administrator and submit appropriate documents to record the change through the court.
When executing a last will and testament, it is a good idea to appoint a first and second Administrator. If the primary executor is unable to fulfill estate duties, the second executor can quickly take over without the need for a court confirmation hearing.
The probate process begins when the decedent's death certificate is filed. Probate usually lasts between three and nine months. Much depends on court caseload, validity of the Will, value of the estate, and how well family members get along. If relatives decide to contest the Will, probate can be suspended for months or years.
Certain strategies can be implemented prior to death to avoid probate. It is strongly recommended to consult with a probate lawyer or professional estate planning service to determine which strategies will offer the most protection. Trusts are a popular choice and are used to avoid inheritance taxes. Several types of trusts exist including revocable and irrevocable trusts and life insurance trusts.
When choosing the Will administrator it is best to discuss this decision beforehand. While you may feel they are the most qualified to handle estate duties, they may have no desire to manage your estate or have obligations that would prevent them from taking on additional responsibilities.
Real estate investor, Simon Volkov, specializes in buying real estate held in probate. If you are an estate administrator who needs help liquidating probate real estate visit http://www.SimonVolkov.com and submit property information via the "we buy houses" form. Simon is particularly interested in buying houses located in Orange County, California, Washington, Nevada and Arizona.
Being an Administrator can be a difficult and time-consuming task. This is particularly true when administering the estate of a spouse or direct lineage relative. In addition to coping with personal grief and administration responsibilities, personal probate representatives must also cope with grieving heirs.
With testate estates, Administrator's are appointed within the Will. When decedents die without executing a last will, a probate judge will appoint an estate executor. In most cases, judges will appoint the surviving spouse, adult children or relative. If family members are unwilling to fulfill estate duties, a probate lawyer or estate planner can be appointed to the role.
Most probate executors require legal assistance with filing documents and transferring financial holdings. This is especially true when real estate is involved or if heirs contest the Will. It is a good idea to retain the services of a neutral third party to manage estate holdings when family strife exists.
Will administrators receive compensation for estate management duties. Administrative fees are based on state probate laws and can be paid as a flat fee, hourly wage or percentage of estate value. While family members might feel awkward about receiving payment for services rendered, it is important to understand that settling an estate can require hundreds of hour's worth of work.
Common estate administration duties include: taking inventory of estate assets; obtaining property appraisals; sending out creditor notices and paying outstanding debts; managing real estate and financial portfolios; contacting government agencies such as Medicare, Social Security or Veterans Administration; filing the decedent's last will and death certificate through the probate court; filing a final tax return; and distribution of inheritance assets to heirs.
If designated probate executors are unable to take on administrative duties, they can submit a request to the court seeking dismissal. The judge will confirm another Administrator and submit appropriate documents to record the change through the court.
When executing a last will and testament, it is a good idea to appoint a first and second Administrator. If the primary executor is unable to fulfill estate duties, the second executor can quickly take over without the need for a court confirmation hearing.
The probate process begins when the decedent's death certificate is filed. Probate usually lasts between three and nine months. Much depends on court caseload, validity of the Will, value of the estate, and how well family members get along. If relatives decide to contest the Will, probate can be suspended for months or years.
Certain strategies can be implemented prior to death to avoid probate. It is strongly recommended to consult with a probate lawyer or professional estate planning service to determine which strategies will offer the most protection. Trusts are a popular choice and are used to avoid inheritance taxes. Several types of trusts exist including revocable and irrevocable trusts and life insurance trusts.
When choosing the Will administrator it is best to discuss this decision beforehand. While you may feel they are the most qualified to handle estate duties, they may have no desire to manage your estate or have obligations that would prevent them from taking on additional responsibilities.
Real estate investor, Simon Volkov, specializes in buying real estate held in probate. If you are an estate administrator who needs help liquidating probate real estate visit http://www.SimonVolkov.com and submit property information via the "we buy houses" form. Simon is particularly interested in buying houses located in Orange County, California, Washington, Nevada and Arizona.
Indulge in Investing Through Probate Property By Khuzy Bain
Life is precious we cannot replace it once it is gone. It is unique and no one can ever take care for it except you who handle and bring it. Enjoy life while you are still alive and make a difference that can help in reaching out your dreams and goals in life. Make most of the time a very special and significant one. Give time with your family, friends and special someone everyday because we don't know our last stay here on earth. As time moves on we must not waste it. Try do things that have significant meaning that people can remember and value. We cannot deny the fact that death really comes into us. Death is inevitable and we must be prepared if this happen. A will and testament must be ready ahead to prevent a long process of probate property if death occurs.
In probate property there is a higher chance for great investment. The process is most likely the same with the regular sale on how to investment real estate but there are few procedures to be followed. One procedure is that a petition of the court is needed in order to approve the sale and the appraiser of the court needs to put a value on the real state for further fees and taxes to be paid.
Another procedure is that in some instances there is a notice of proposed action that is to be given out to the heirs that has interest in the real estate. A letter of will and testimony is needed for it to sign the grant deed with the deceased name to ensure a title to the new buyer. One should make sure that the probate real property is done well to avoid any problems as the process goes along to be invested.
With probate real investing a procedure of visiting the court house is involve and some detective work has to be done. Though it is hard to find a probate property today, many investors can easily locate deals of real estate through reading a descendants will and testament and look for any probate records. A will can be viewed by anyone who wants to for it is a public record. This can also be profitable but one should consider the value and the status of the home if it is worthy to buy or not. Before you decide to purchase a property everything should be checked and inspected first.
To plan for a probate real estate investing it is necessary to ensure that the probate property is ready for purchase and there is already a contract that is prepared for selling the property. In this way an enormous opportunity can be acquired which helps in giving a proper investment that can lead to more profit when done correctly. To invest is to look for a higher profit that can grow bigger and bigger. So with a probate property it is essential that a consideration of investing is a must before engaging with such business.
In probate property there is a higher chance for great investment. The process is most likely the same with the regular sale on how to investment real estate but there are few procedures to be followed. One procedure is that a petition of the court is needed in order to approve the sale and the appraiser of the court needs to put a value on the real state for further fees and taxes to be paid.
Another procedure is that in some instances there is a notice of proposed action that is to be given out to the heirs that has interest in the real estate. A letter of will and testimony is needed for it to sign the grant deed with the deceased name to ensure a title to the new buyer. One should make sure that the probate real property is done well to avoid any problems as the process goes along to be invested.
With probate real investing a procedure of visiting the court house is involve and some detective work has to be done. Though it is hard to find a probate property today, many investors can easily locate deals of real estate through reading a descendants will and testament and look for any probate records. A will can be viewed by anyone who wants to for it is a public record. This can also be profitable but one should consider the value and the status of the home if it is worthy to buy or not. Before you decide to purchase a property everything should be checked and inspected first.
To plan for a probate real estate investing it is necessary to ensure that the probate property is ready for purchase and there is already a contract that is prepared for selling the property. In this way an enormous opportunity can be acquired which helps in giving a proper investment that can lead to more profit when done correctly. To invest is to look for a higher profit that can grow bigger and bigger. So with a probate property it is essential that a consideration of investing is a must before engaging with such business.
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