So we have to get just to get to the husband, wife versus joint tenants with right of survivorship, it goes to them without having to go through probate court. Um, so it’s just an interesting thing. So let’s say somebody doesn’t plan, do you know what the probate process is as far as the real estate goes? Can you, can you sell the house? If it’s in mom and dad’s or dad’s name and he died, it has to go through probate. Yup. Yeah. It has to go through probate. And then there are probate fees and you know, you take, you take a chunk out of the value of equity that would go to, to the survivors and beneficiaries. Anyway, so it’s a, it’s a very, very tough experience. And you and it also, it can be bid on by the public. So you know, you could have the family there saying, yeah we, we want the home, we want to keep the home and then someone can come in and outbid them and take them home and get the top Trust Attorney Las Vegas services.
Yeah. You can’t do anything that’s under, under fair market value. So let’s say, yeah I want, I want my, you know, one of the kids wants to take it. So they say, okay we’ll give it to them at a discounted rate. But guess what, the probate court does have to open it up to auction and then they lose that house cause it’s, it’s done through that, uh, through that probate process. So it’s not a fun thing. The other thing I’ll add is timeline for your Trust Attorney Las Vegas experience. You know, if it’s in a trust, once you have a death certificate, whoever’s the successor trustee can sell the house, you know, that day cause they’re authorized to do that. So we’re talking maybe 45 days after death is probably the fastest you could get that sold. But that’s still pretty quick versus a probate at least a year at least. That is brutal. And with the market changes that as fast as they can come, it can be a huge loss. Now it could also be a huge benefit but most likely, you know, they need the money for something or they need to stay in the house and somebody needs to pay the property taxes on them. That can be done. But it just makes it a lot more difficult.
Yeah, it’s a very tough process. So I would, I would make sure that you, you set everything up correctly. Again, this is seeking professional advice and making sure that you, you do it all and it takes a team, right? Because you know, you have the real estate perspective, like what we just discovered and it may not know how to properly set up a trust or a will. So seek legal counsel, talk to your real estate agent, do it all because it’s, it’s important. They’re going to protect your most important asset and your family’s most important assets with us to get the best Trust Attorney Las Vegas.
Yup. And so I would say, um, you know, for the real estate side, you want somebody who’s done the probate process before because it is a completely different animal from selling a housing perspective because you have to know, Hey, I gotta put contingencies in there about the probate court approval. I’ve got to schedule out timelines, at least triple what I normally would and those kinds of things. So that stuff was, from an attorney perspective with Trust Attorney Las Vegas services, I want to talk to the realtor about what’s going on, but I also want to deal with somebody who’s experienced, right? So I think that transitions well to right? How, let’s say people are out of Vegas and they can’t use you, or even if they’re here and they for some reason don’t want to, and I wouldn’t recommend that, but let’s say, how do they find a true trusted realtor that is going to have all those qualities that you talked about? You talked about interviewing several, I know that was one point, but what else should people be looking for? What questions should they ask when they’re interviewing?
Um, ask how many years you’ve been in the business. Ask how many homes you’ve sold, ask, uh, what do you know about my neighborhood? Um, and what kind of buyers are, are interested in my home. There’s big data out there now for everything. And if real estate agents are savvy and they’re investing in there, in their profession, which they should be, they’re going to, they’re going to likely be paying for big data, which can essentially predict the buyer that’s going to be purchasing your home, at least the general demographics of it, which then allows them to market to, uh, the buyer pool properly. Um, all of that. But in the interview process is the most important thing in discovering which agent is going to be best for you. It allows you to have that conversation, say, you know, develop the personal connection, but also understand their, their professional acumen and how well, they know their profession that comes with Trust Attorney Las Vegas.
Uh, most, most real estate agents and or this as a second or third or fourth career. Um, so you kind of want to understand their background, you know, how, how inspired are they to do it and how much do they treat it? Like a profession, do they treat it like a side gig or, or like a pre-retirement job where they’re, they’re just in it to make a little bit of money each year and, uh, you know, sell a few friends’ houses or are they investing serious money when it comes to a Trust Attorney Las Vegas, serious time and developing amazing systems to benefit you. So there’s, there’s a huge array of different agents that are out there. And I think having someone who treats it as a business, um, who connects well with you and who knows your market really well is the most important thing. There are so many resources with all the ratings out there, you know, you’ve got Zillow, each, each agent on Zillow and they have a low rating.