Bob McLaughlin Broker Associate Germaine Realty LLC 255 Main St Weymouth Ma

Bob McLaughlin
Broker Associate / SRES
Germaine Realty LLC
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    • Specialties
      • Senior Transitions
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      • Selling your current home
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    • Probate Sales
    • Resources
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Bob McLaughlin
Broker Associate / SRES
Germaine Realty LLC
  • Home
  • Specialties
    • Senior Transitions
    • Buying a new home
    • Selling your current home
    • Rentals
  • Probate Sales
  • Resources
  • Home Education
  • Free Stuff

I can assist with selling a home in Probate

What is Probate?

 In Massachusetts, probate is the court-supervised legal process that validates a will, identifies and values a deceased person's assets, settles debts and taxes, and then distributes the remaining assets to beneficiaries or heirs, according to the will or, if there is no will, according to Massachusetts law.  

When is it required?

  

         1.  Real Estate Owned Solely by the Deceased

  • If the person owned a house, condo, land, or any real property in their name only (not jointly owned, no trust), it will need to go through probate.

         2.  Bank Accounts or Investments in the Deceased’s Name Only

  • Accounts without a joint owner or designated beneficiary (no "Payable on       Death" or "Transfer on Death" instructions).

         3.  Personal Property of Significant Value

  • High-value personal items like jewelry, art, vehicles (not jointly titled), or       collectibles if they don't have named beneficiaries.

         4.  No Named Beneficiaries or Beneficiary is Deceased

  • Life insurance policies, retirement accounts, or financial accounts without an up-to-date beneficiary designation.

         5.  Assets Without a Trust

  • If the deceased did not create a revocable living trust and kept assets in their individual name.

         6.  Disputes or Challenges to the Will

  • If anyone contests the validity of the will, probate is required for the court to settle the dispute.

When Probate may NOT be required?

  

         1.  Jointly Owned Assets

  • Property owned as Joint Tenants with Rights of Survivorship or Tenancy       by the Entirety (usually between spouses) automatically passes to the       surviving owner.

         2.  Assets with Named Beneficiaries

  • Life insurance policies, IRAs, 401(k)s, and bank accounts with valid, living beneficiaries.

         3.  Assets Held in Trust

  • Any property or account owned by a Revocable Living Trust avoids probate.

         4.  Small Estates

  • If the estate is under $25,000 (excluding a car) and no real estate is involved, Massachusetts allows for a Voluntary Administration, which is a simplified process.

Must all Wills go through Probate?

 

In Massachusetts, most wills do go through probate, but not every asset has to.


Here’s how it works:


  • A will itself does not transfer ownership of property. It must be submitted to the Probate and Family Court to be officially recognized and for the named executor to have legal authority to act.
     
  • Formal probate is usually required if the deceased owned real estate in their name alone or significant assets without named beneficiaries.
     
  • There are some situations where a simplified or voluntary administration process can be used, especially if the estate is under $25,000 (not including a car) and there’s no real estate.
     
  • Non-probate assets (like jointly owned property, accounts with named beneficiaries, life insurance proceeds, and assets in a trust) do not go through probate. The will has no authority over those.
     

So, the will itself gets verified through probate if there are probate assets to distribute.
If someone dies with only non-probate assets, technically, the will may never need to be filed because there’s nothing for the court to oversee.

What's the Process?

  

  • The process:

    • Filing a petition: The process begins with filing a petition in the probate court of the county where the deceased resided. 
    • Appointment of a personal representative: A personal representative (executor if there's a will, or administrator if there isn't) is appointed to manage the estate. 
    • Inventory and appraisal: The personal representative compiles a comprehensive inventory of the deceased's assets. 
    • Settling debts and taxes: Outstanding debts and taxes are paid. 
    • Distribution of assets: The remaining assets are distributed to the beneficiaries or heirs. 


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