Fort Worth Real Estate, Executor Help Probate Texas Law, 55+ Communities Adult NeighborhoodsRecently posted or modified blog posts by tag - Probate Denton Countyhttps://www.citiesrealestate.com/blog/Copyright CitiesRealEstate.com2023-08-22T10:09:56-07:00tag:citiesrealestate.com,2012-09-20:18901Client Story Review: Valentia RichardsonValentia Richardson sat at her kitchen table, surrounded by stacks of unopened mail and a growing sense of unease. It had been a tough year for her financially, and now she was facing yet another challenge—she was behind on her taxes on the house. As she sifted through the letters, one in particular caught her attention. The envelope was plain, without any distinct markings, but the words on the front caught her eye: "For a guaranteed offer."
Curiosity piqued, Valentia tore open the envelope and began reading the letter inside."I hope this letter finds you well," it began. "I wanted to share an exciting opportunity with you, as we are actively seeking properties and land in your area. If the prospect of a quick cash sale within 24 hours piques your interest, please read on."
Intrigued, Valentia continued reading, her eyes scanning the words that promised a smooth and hassle-free selling process.
"At our Cities Real Estate, we specialize in purchasing houses just like yours, offering a range of benefits that make the selling process smooth and hassle-free."
Valentia couldn't help but think about her current situation. She had been considering selling her house to ease her financial burden, but the traditional route had seemed daunting and time-consuming. This letter seemed to offer a different approach—one that might be exactly what she needed.<br /><br />The letter went on to highlight the key advantages of selling to this company.
"As-Is Purchases: You don't need to worry about making any repairs or renovations. We understand that every property has its unique charm, and we appreciate it in its current condition."
"Cash Payments: We pay in cash, eliminating the need for loan approvals and lengthy waiting periods. This ensures a seamless and expedited transaction, putting money in your hands quickly."
"Flexible Timeline: Whether you need to sell within two weeks or require more time to find a new place, we work according to your schedule. Our goal is to provide you with the freedom to transition at your own pace."
"No Commissions: By directly buying your home from you, we eliminate the need for middlemen and associated commission fees. The offer we present is the offer we stand by, without any unexpected changes."
The more Valentia read, the more she felt a glimmer of hope. <br /><br />Maybe this was the solution she had been searching for.
<br /><br /><br /><br />She took a deep breath, contemplating her next move. The letter had provided a contact number, urging her to call and discuss her options. Valentia reached for her phone and dialed the number, her heart pounding with a mix of anticipation and anxiety.
After a few rings, a warm voice greeted her on the other end of the line. It was the person who had sent the letter, introducing themselves as the representative of the company.
Valentia, feeling a sense of relief, shared her situation and expressed her interest in exploring this opportunity further. The representative listened attentively, assuring her that all their conversations were confidential and there was no obligation on her part.
Over the course of their conversation, Valentia learned more about the company's commitment to transparency and fairness. They explained how they would provide her with a guaranteed offer, which they would honor until the end, regardless of any fluctuations in their costs.
After the call, Valentia felt a weight lifted off her shoulders. She had taken the first step towards finding a solution to her financial struggles. The company's promise of a quick cash sale and their willingness to work according to her timeline gave her a renewed sense of hope.
As days turned into weeks, Valentia and the representative continued their discussions, exploring the possibilities and evaluating the value of her property. The process moved forward smoothly, and Valentia grew increasingly confident that she had made the right decision.
Valentia accepted our offer.<br /><br />Why Hire Cities Real Estate
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
sLet US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transitio
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David</a> today at (817) 797-9047.2023-06-22T12:56:19-07:002023-07-18T08:37:43-07:00David Pannelltag:citiesrealestate.com,2012-09-20:18888The Heroic Triumph of Probate: Alex's Journey to VictoryIn Dallas Fort Worth, Alex found themselves trapped in a nightmarish probate process, burdened not only by the task of selling a decaying home but also by the unsettling emergence of four contentious family members. However, amidst the chaos and despair, a savior named Broker David Pannell emerged, ready to guide Alex towards triumph.
<img src="https://assets.site-static.com/userfiles/728/image/Probate/The_Heroic_Triumph_of_Probate_Alexs_Journey_to_Victory.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="350" height="525" />
<br /><br />Initially, the dilapidated house stood as a haunting reminder of neglected memories, its walls cloaked in cobwebs and dust. Alex, overwhelmed by grief and uncertainty, yearned for an escape from this tormenting ordeal.
Recognizing Alex's plight, David Pannell, a seasoned real estate professional, stepped forward as a beacon of hope. With unwavering dedication, David pledged to transform the dire situation and ensure a favorable outcome.
Undeterred by the looming shadows cast by legal complexities, David fearlessly ventured into the crumbling abode. Assessing the property with a discerning eye, he identified the necessary repairs and restoration work needed to restore its former glory. David swiftly assembled a team of skilled craftsmen, breathing new life into the desolate dwelling.
Simultaneously, the emergence of four family members threatened to unravel the progress achieved. Conflicting opinions and relentless demands threatened to undermine David's efforts and prolong the agony. However, armed with patience and diplomatic finesse, David became a mediator, diligently working to bridge the familial divides and foster unity. Days turned into weeks, and weeks into months, as David persistently sought to reconcile the differing agendas of the family members. Despite setbacks and frustrations, his unwavering commitment and professionalism propelled him forward. Slowly, a fragile truce was reached, as the family members recognized the value of finding common ground for the sake of their shared history.
With unity restored, David rallied his resources, meticulously coordinating the final steps required to bring the probate process to a close. Addressing legal intricacies and paperwork, he expertly navigated through the remaining obstacles.
Finally, the moment of triumph arrived. The house, now revitalized, attracted genuine buyers who were captivated by its renewed beauty and the history it held. Through skillful negotiation, David ensured that Alex received a fair and just price for their cherished property.
As the ink dried on the closing documents, a profound sense of relief washed over Alex. The nightmare had come to an end, and victory was finally within reach. Alex emerged from the probate ordeal with a newfound strength, forged by resilience and the unwavering support of David Pannell.
The once-bleak tale of probate had transformed into a heroic triumph, thanks to the resilience of Alex and the unwavering dedication of their real estate hero, David Pannell. Together, they defied the odds, conquering the shadows of despair and familial discord.
In Dallas Fort Worth, their story serves as a testament to the power of resilience, unity, and the invaluable guidance of a skilled professional. May it inspire others facing their own probate challenges to persevere, knowing that victory can be achieved even in the darkest of times.2023-06-22T08:09:29-07:002023-07-18T08:38:44-07:00David Pannelltag:citiesrealestate.com,2012-09-20:16061What is Muniment of Title Texas ProbateWhen a resident or property owner in Texas passes away, their family often believes the traditional probate process is necessary. Fortunately, that’s not always the case. Under certain conditions, there are less expensive and more timely alternatives to probate. One of those alternatives is “muniment of title.”
Don’t be thrown by the word “muniment.” It’s just a fancy way of saying “evidence.” So, muniment of title means evidence of title. This means a will can be submitted to the court to confirm ownership of the property by the deceased, avoid probate, and have the property passed to the heirs in a matter of 30-60 days instead of the months or years it can take an estate to go through the probate process.
Essentially, it is a more straightforward way to establish the validity of the Will and pass title to the beneficiaries named in the Will.
When is Muniment of Title Used?
Muniment of title is generally only used when there are no debts of the estate needing to be paid, and there are no actions that would require the appointment of an executor or executrix.
A muniment of title should be considered when the estate has no unsecured debts, and the only assets involved are real property and cash accounts. However, it is not advisable to use it when the estate includes publicly traded securities, bonds, mutual funds, and similar assets because transferring these types of assets often requires an executor or executrix.
What is the Procedure for Muniment of Title?
Like the traditional probate process, an interested party must file an application in a court with jurisdiction over probate matters. In the Fort Worth metro area, the application should be filed in the Tarrant County Probate Court.
The application for muniment of title must state the following to the extent that each is known to the applicant or can, with reasonable diligence, be verified by the applicant:
Each applicant’s name and domicile
The testator’s (deceased’s) name, domicile, and, if known, age on the date of their death
The fact, time, and place of the testator’s death
Facts showing that the court with which the application is filed has venue
Facts showing that the testator owned property, including a statement generally describing the property and the property’s probable value
The date of the Will
The name and residence of any executor named in the Will
Each subscribing witness to the Will, if any
Whether one or more children born to or adopted by the testator after the testator executed the Will survived the testator and, if so, the name of each of those children
That the testator’s estate does not owe an unpaid debt, other than any debt secured by a lien on real estate
Whether a marriage of the testator was ever dissolved after the Will was made, and, if so, when and from whom
Whether the state, a governmental agency of the state, or a charitable organization is named in the Will as a devisee.
After receiving the application, the court will have a hearing on the will's validity. This is typically a short hearing, lasting 20-30 minutes.
If the court is satisfied the estate doesn’t owe an unpaid debt and there is no necessity for administration of the estate, the real property can then be quickly and easily passed to the heirs.<br /><br />Trust the Experience of David Pannell and Cities Real Estate
Owner/Broker David Pannell of Cities Real Estate has vast experience with real estate transactions involving various types of probate, including muniment of title. If you don’t have an advisor to assist you with the application, David will be happy to refer you to one in Tarrant, Parker, Wise, Denton, Dallas, or Collin County.
For more information, contact Cities Real Estate Broker/Owner David at (817) 797-9047.
David is a real estate professional you can trust. He’s been helping families with all types of property sales for over 20 years in DFW and has also served in the United States Marine Corps and as a City of Arlington police officer.
Disclaimer
Nothing in this article should be considered legal advice. It is solely for informational purposes. Nor does it substitute for consultation with a competent probate attorney.2022-12-08T07:57:52-07:002023-07-27T10:18:12-07:00David Pannelltag:citiesrealestate.com,2012-09-20:15817What is an Affidavit of Heirship Texas Title Probate LawAn affidavit of heirship is a legal document that can be used when someone dies without a will and their estate consists primarily of real property titled in their name. The affidavit is used to identify the heirs to the property.
The affidavit is filed with deed records in the county where the decedent’s real property is located. It does not transfer title to real property. Instead, it is evidence concerning the property.
Legally, the affidavit of heirship creates a clean chain of title transfer to the deceased’s heirs.
An affidavit of heirship should be signed by two disinterested witnesses. To qualify as a disinterested witness, the person must be knowledgeable about the deceased and their family history but cannot benefit financially from the estate.
Who can witness an affidavit of heirship?
The witnesses should not be an heir, related to the deceased, or have any interest in the estate. In Texas, they must swear, under penalty of perjury, to these conditions:
They knew the decedent
The decedent did not owe any debts
The true identity of the family members and their heirs
The person died at a specific place on a specific date
The witness will not gain financially from the estate
Ideally, a witness will have known the deceased for 20 to 30 years and know specific details about the spouse and children. Their signatures on the affidavit will carry substantially more weight than a recent or short-term casual acquaintance.
Let Cities Real Estate Help
At Cities Real Estate, we go above and beyond for buyers we represent.
If an affidavit of heirship is involved in the purchase of a property, our agency will pay the buyer’s fees to file an affidavit of heirship. We’ll also identify and locate potential witnesses to sign the affidavit if necessary.
For more information, contact Cities Real Estate Broker/Owner David Pannell at (817) 797-9047. David is a real estate professional you can trust. He’s been helping families with all types of property sales for over 20 years in DFW and has also served in the United States Marine Corps and as a City of Arlington police officer.
Disclaimer
Nothing in this article should be considered legal advice. It is solely for informational purposes. Nor does it substitute for consultation with a competent probate attorney.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David</a> today at (817) 797-9047.2022-11-22T07:40:39-07:002023-07-27T10:38:13-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13518Official Signature Probated Texas EstatesYour official signature depends on your specific role.
For example, if your name is Bradley C. Roberts, and the decedent was your father, Alexander M. Roberts, you would sign as follows:
Executor: “Bradley C. Roberts, Executor of the Estate of Alexander M. Roberts, Deceased”
Personal Representative: “Bradley C. Roberts, Personal Representative of the Estate of Alexander M. Roberts, Deceased”
Administrator: “Bradley C. Roberts, Administrator of the Estate of Alexander M. Roberts, Deceased”
Trustee: “Bradley C. Roberts, Trustee”
<br /><br />Notarization
You may be asked to have your signature “notarized,” which means having a local notary public stamp the document with their seal, indicating you provided proof of your identity (using a driver's license, passport, etc.) when you signed the document in their presence. Be sure not to sign the document until you’re in front of the notary.
Many postal shops will notarize signatures (Mailboxes Etc., UPS Store, etc.), and many “mobile notaries” can be found online and will come to you to witness your signature. Either way, the process is simple and usually costs $10-$20.<br /><br />Medallion Signature Guarantee
If you need to deal with individual stock certificates and some other documents, you may be required to get a “medallion signature guarantee.” This requirement is more challenging to satisfy than simple notarization because the person providing the guarantee becomes responsible for covering the entire value of the asset if there’s a problem with your claim. Consequently, few people offer this service.
A local bank where you’ve been a long-term customer might provide a medallion signature guarantee for you. As uncommon as the service is, many providers don’t charge you for it. Additional information on medallion signature guarantees can be found on the U.S. Securities & Exchange Commission website.<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-06-02T07:27:00-07:002023-07-28T08:27:24-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13516Notifications Probated Estates In TexasTypical notifications include:
Banks
Brokerage accounts
Businesses and partnerships
Close friends and family
County probate court
Credit card companies
Credit reporting agencies
Creditors
Department of Motor Vehicles (DMV)
Extended circle of acquaintances
Employer & any pension providers
Heirs
IRAs and other beneficiary accounts
Internal Revenue Service (IRS)
Landlord
Lawyer
Leasing companies
Life insurance companies
Medical providers
Membership organizations
Newspaper and other subscriptions
Post office
Service providers
Social Security Administration (SSA)
Trustees
Utility companies
Veterans Affairs (VA)
Voter registry
While some notifications can be made informally, others may require specific methods of contact, ranging from phone calls to notarized letters to public notices published in newspapers.
It’s critical for you to follow the creditor notification timelines in your state. Failure to follow these statutes may result in the estate owing money it shouldn’t have, which could result in you being held personally responsible for those debts.<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.<br /><br />If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br /><br /><br />As an executor
There are many people and organizations you’ll need to notify about the estate owner’s death, some of which are time-sensitive. For example, you usually have up to thirty days after the death to notify the court and present any will.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David</a> today at (817) 797-9047.2022-05-31T05:50:00-07:002023-07-28T08:56:05-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13492Finish Line Probate in TexasAfter you’ve resolved the estate’s debts, paid any applicable taxes, funded your compensation, and distributed the estate’s remaining assets, you’ve fulfilled your responsibilities as executor. However, there are still several things you need to consider.<br /><br />Tax Returns and Reserves
Since tax agencies can, and sometimes will, review your submission and decide you owe additional amounts, it’s a good idea to keep some cash in reserve, just in case. You can still make the bulk of the estate distributions if you’re confident that the estate settlement has been done correctly.
If you were the executor for a substantial estate and needed to file a federal Form 706 and/or its associated state forms, you’ll also need to obtain tax clearance letters from the agencies you filed with, stating there are no outstanding tax issues. This can take six to nine months from when you submit the return.<br /><br />Trust Termination
Trusts terminate according to a defined termination date, such as the death of a beneficiary or the date the beneficiary attains a stated age. If you are both the estate executor and the trustee for an associated trust, you don’t have to wait for the trust to terminate before closing the estate.
Probate Final Accounting
If the estate has gone through an official probate process, you must submit, and get approved, a “Final Accounting,” which provides details on how you handled estate assets, what income the estate generated, if there were any losses, how much you paid each creditor, and how much you distributed to heirs.
Probate Closing Statement
After the estate has completed the probate process, if it was necessary, the final step is to submit a “Closing Statement” for approval. This document states that you’ve resolved all debts, paid all taxes due, and distributed the net proceeds of the estate appropriately.
Close Down the Estate Account
At this point, there should be little, if anything, left in the estate other than perhaps the estate bank account you opened. If you haven’t already closed this account when you distributed the proceeds, now is the time to do so.
File Final Form 56
If you filed a Form 56 with the IRS when you became an executor (or at any other time), you should now file another Form 56, officially notifying the IRS of the termination of your responsibilities.<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-05-05T08:17:00-07:002022-06-25T06:23:20-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13491Common Executor Mistakes Probate TexasAs an executor, you’ll have many duties to perform and many decisions to make. But, in addition to being an executor – you’re also human. This means you might just make a mistake or two.<br /><br />To help you avoid doing that, take note of some of the most common mistakes executors make.
Showing favoritism – as executor, you have a fiduciary responsibility to act in accordance with the best interests of the estate, not yours or a loved one’s. Always do your best to treat everyone fairly and equally.<br /><br />
Forgiving debts – although one of the heirs may owe the decedent money, you don’t have the legal authority to cancel any debts, out of fairness to the other heirs.<br /><br />
Making distributions too soon – you may be tempted to distribute assets too soon, especially if you’re under pressure from one or more of the heirs. Remember, all debts must be settled and taxes paid before general distribution to heirs begins.<br /><br />
Limiting communications – keeping heirs informed about the estate settlement process and the progress being made along the way can help reduce suspicion and anxiety, making your work go smoother and easier.<br /><br />
Not providing notice of death – publishing a notice of death protects you from liability and enables the estate to wrap up quicker because these publications reduce the time creditors have to make claims. All creditors must be notified of the death, given instructions on how to contact you, and told when the deadline to do so is.<br /><br />
Paying bills too quickly – while it’s necessary to pay small bills, like utility bills, as soon as they're received, hold off on paying other bills until you have a complete handle on the estate’s finances. You never know when a big tax bill with a higher priority will appear unexpectedly.<br /><br />
Overlooking valuable assets – take time to find and value all estate assets. Don’t miss things like bank accounts, valuable collectibles, or unclaimed pensions.<br /><br />
Playing the market – your duty as the estate’s executor is to protect assets and manage them prudently. Use your best judgment. If the estate is going to take a long time to settle, you likely won’t be held liable for investing cash in a conservative mutual fund, but it may prove costly for you if you lose estate money in penny stocks or foreign currency exchanges.<br /><br />
Not protecting property in vacant homes – be sure that all assets in a vacant home are protected by insurance, just as you would if the house was occupied. Most homeowner’s policies don’t cover property left in vacant homes.<br /><br />
Failing to act – don’t forget about important deadlines for certain tasks, and that you have an obligation to settle the estate in a reasonable timeframe. If you’re overcome with grief or just overwhelmed by the situation, you can step down voluntarily. If you continually fail to act, the court or heirs may initiate an attempt to replace you.
<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-04-30T07:10:00-07:002022-11-17T09:15:38-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13487Determining Heirs For Probate in TexasAs the executor, you are responsible for appropriately distributing the net estate to the rightful heirs, who are typically clearly identified in a will, making this a simple task.
There are several overlapping terms used to refer to people who receive an inheritance from an estate:
Heirs: usually someone who is related to the decedent and would normally inherit from the estate, even without the presence of a will.
Devisee or Legatee: someone named explicitly in the will. Historically, a devisee inherits real estate, and a legatee inherits personal property, including cash.
Beneficiary: someone who will inherit from an estate, but also used for asset classes that bypass probate (such as life insurance) and go directly to the person named.
If an heir dies after the decedent, but before asset distribution, that heir’s estate simply inherits whatever the heir would have inherited.
If an heir dies before the decedent, the following rules apply in priority order:
If the will names an alternate recipient, then the alternate receives the inheritance instead.
If the recipient was not specifically named but was instead simply part of a group (i.e., "my children"), then the group's remaining members split the inheritance among themselves.
Some wills specifically state that any bequest to a pre-deceased person should instead become part of the residuary estate and thus be distributed to the residuary heirs along with everything else.
Otherwise, the particular state's "anti-lapse" laws may apply, generally assigning the inheritance to the dead heir's blood relatives, in a specific order of priority. If you are uncertain who should inherit in this case, you may want to speak to an estate lawyer.
If none of the above conditions are met, then the property becomes part of the residuary estate and is distributed to the residuary heirs along with everything else.
If there are no surviving residuary heirs and the state's anti-lapse statute did not apply (perhaps because there were no qualified blood relatives of the deceased residuary heirs), then the residuary estate is distributed according to the state's laws of intestate succession (as if there were no will).
<br /><br />If There Is No Will in Texas Probate
If no will exists, the estate is then considered “intestate,” and assets must be distributed according to state law in the decedent’s legal state of residence. As executor, securing the services of an attorney isn’t required, but it can provide reassurance that you’re doing things correctly.
If an estate is intestate, generally only the spouse and blood relatives will inherit assets; an unmarried partner and friends don’t get anything. If there is no surviving spouse or children, grandchildren will typically inherit. However, if no direct descendants exist, the estate “escheats” to the state, meaning the government gets to keep the property.
The disposition of real estate owned somewhere outside of the decedent’s legal state of residence must be inherited according to the laws governing that jurisdiction.<br /><br />Charitable Donations
As executor, you don’t have the legal authority to make charitable donations unless explicitly authorized by the will. However, when authorized, you should treat such donations similarly to all other bequests and distributions, subject to any specific instructions in the will. Essentially, the charity becomes one of the “heirs.”
Other Complicating Factors
In many states, if the decedent’s will leaves anything to a spouse who the decedent divorced after making the will, those bequests will automatically be invalidated.
If an heir caused the decedent’s death, most state laws bar that heir from inheriting anything to prevent them from profiting from a crime.
Some states bar adulterous people from inheriting, and other states bar people from inheriting anything from a child they abandoned.
As an executor, if you think extenuating circumstances exist for your estate, you should research the issue or consult an attorney before distributing estate assets.<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-04-21T17:53:00-07:002023-07-13T10:07:31-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13478Paying Taxes Probated Texas CourtsAn executor has many duties, including paying taxes (sometimes multiple kinds of taxes), and there are various required IRS forms required when paying those taxes. Here’s a breakdown:<br /><br />Decedent Income Tax Returns
As executor, you are responsible for filing personal income tax returns for the decedent. These returns are due on the same date everyone’s personal income tax return is due (typically April 15th) and must be submitted by the due date in the year after the decedent’s death. The final tax return will cover the preceding year until the date of death, after which the estate becomes responsible for its own taxes and must submit its own return.
IRS publication 559 provides instructions for filing decedent income tax returns. You can also use tax software like TurboTax or employ the services of an accountant for guidance.
If the decedent had not yet filed tax returns for any years before their death, you are also responsible for filing those tax years by their regular due dates. However, if they did file a return for that year and are due a refund, you can collect it by filing IRS Form 1310.
Filing considerations:
Minimum income: a tax return only needs to be filed if the decedent’s earnings exceeded the minimum amount set by federal and state law.
Medical deductions: if the decedent incurred significant medical costs the year they passed away, you may be able to deduct many of those expenses. To qualify, the decedent must have paid those expenses before they died, or the estate must pay them within one year of death.
Surviving spouse: if the decedent is survived by a spouse who has not remarried, the final personal income tax filing may be made as a joint return, which usually lowers taxes compared to filing individually. Under certain circumstances, the surviving spouse may be able to continue filing joint returns for an additional two years.
Revocable living trusts: any income received during the portion of the tax year the decedent was alive should be reported on the final income tax return. Once all owners of a revocable trust pass away, the trust converts to an irrevocable trust. It is then considered a taxpayer and is responsible for filing its own tax returns going forward.
<br /><br />Annual Estate Income Tax Returns
If an estate earns over a minimum amount (around $600), it must file a federal IRS Form 1041 in the year it earned the income. You’ll also need to file the corresponding state form if you file a federal form.<br /><br />Annual Property Taxes
If the estate contains real property, any relevant property taxes must be paid by you until the property is either distributed or sold to the heirs. Property taxes are often due in two installments during the calendar year, although due dates vary widely by jurisdiction.<br /><br />Annual Trust Tax Filings
After death, income from a living trust begins accruing for the benefit of trust beneficiaries, and the trust must report any income it distributes. Any income not distributed in a given year must be handled via the trust’s own federal and state tax filings. Bear in mind that managing a trust is the responsibility of the trust trustee, not the estate executor.
The “Big Estate” Tax
If the gross estate value exceeds a specified amount ($12.06 million in 2021), federal estate tax Form 706 is required. Filing the form doesn’t mean the estate will owe any taxes since taxes are calculated on an estate’s net value. “Big Estate” tax payments can become very complex. Using the services of an estate tax attorney and CPA is advised.
Inheritance Tax
An inheritance tax is levied on amounts distributed to individual heirs. There is no federal inheritance tax, but several states enforce their own inheritance taxes (there are no inheritance taxes in Texas).<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Why Hire Cities Real Estate
Whether buying or selling a home, it is our goal to make this important event a positive and enjoyable experience. We are committed to providing you with personal attention accompanied by courtesy, respect and professionalism.
David Pannell's Team is a top producing real estate team in the Fort Worth Texas. We have served thousands of clients and we are a trusted partner to many local and nonprofit organizations. Our mission is to educate our clients in the home buying and selling process. We focus on detailed systems and aggressive negotiating strategies to get our clients the best results every time.
<a href="https://www.citiesrealestate.com/buyers/" title="Thinking about buying a home">Thinking about buying a home?</a> You have found the best search engine to do just that. In addition, our team will get you priority access to all the best deals the moment they come on the market…. and in this competitive market you have to have that sort of access to nail down a great deal! If you are looking to sell your home we specialize in getting our clients maximum exposure and top dollar every time.
Our aggressive marketing systems are proven and will net you more money vs your traditional real estate marketing plan. Congratulations on finding a top performing team in the area that is focused on your success! Happy home buying and selling! <a href="https://www.citiesrealestate.com/about/" title="David Pannell Real Estate Broker">David Pannell's Team</a>
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. He is a realtor you can trust to help. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David</a> today at (817) 797-9047.2022-04-14T10:17:00-07:002023-07-13T10:07:47-07:00David Pannelltag:citiesrealestate.com,2012-09-20:3804A Fish Story - Avoid Over Pricing At All CostsHow Flattering
Is it to receive a generous estimation of the value of something you own? That jacket must’ve cost you $700! How did he ever pay for such an expensive engagement ring? Those kinds of compliments make most people beam with pride. A classic car, lovingly restored, antique heirlooms, and even sports memorabilia fetch top dollar at auctions every day. Surely a home is no different.<br /><br />They Were Dazzled
When Dan and Julie* decided to put their home on the market, they were dazzled by the $339,000 price tag a realtor suggested to them. Finally, a professional that recognized the value of Dan’s meticulous landscaping, Julie’s fabulousdecorating touches, the countless weekend DIY projects, and superb housekeeping. None of the other realtors they had talked to had any appreciation for these things. Excited and flattered, they signed a contract with the agent and began eagerly researching a home to buy with the even bigger equity they would soon net after closing. Every day, they worked hard to keep their beautiful home in “show-worthy” condition, perfect and polished. At first, most weekends were devoted to open houses and showings, with Dan and Julie disappearing for hours while potential buyers traipsed through.
And it sat there. (Insert sound of crickets here)
Spring and summer faded to autumn, cooler weather, holidays and a slower real estate market. Along the way, they agreed to periodic price reductions, dropping the listing price to $332,000, then $325,000, then $319,000. Showings were rare, at best, and by this point and the frustration of months of living in “sell mode” was beginning to take its toll. Other properties in their subdivision were listed and sold, some within days or weeks, and their wonderful home languished stale on the MLS month after month. *Not their real names
So what went wrong?
Dan and Julie were victims of the shiny, sparkling lure of overpricing. Their realtor rolled out a dazzling, shiny top dollar price tag, higher than had been previously suggested to them by other agents they had interviewed. Appealing to the owners’ pride, sentimentality, and desire for maximum equity, some realtors will utilize this tactic to coerce the homeowner to sign with them. Like slick game show hosts, they entice the seller to make a poor decision because of the chance of a big win. The reality is that where there is a lure, there is a hook. And as you drop your price every few weeks, you are still paying your mortgage, insurance, HOA dues, maintenance, utilities, etc., etc., etc. More equity is whittled away with every turn of the calendar page. And that’s not all. The stigma of a stagnant
listing brands your house as undesirable. Like the leper among the healthy houses. Brokers and realtors may steer clients away from your listing. After all, it’s been on the market 284 days, so something MUST be wrong with it.<br /><br />So what happened with Dan and Julie?
When their contract expired for the third time, they kept their home off the market for a few months, relisted with a different agent, pricing the home at $292,000 and got their asking price about five weeks later. All told, however, it was more than a year wasted because of a crucial error at the beginning of the process. In today’s market, the “aim high and drop the price later” strategy costs time, money, and aggravation. The simple fact is that the longer your home sits on the market, the lower the offers you receive. Buyers see you as becoming desperate, and see the house as a lemon- a money pit. It does not matter if these things are true; it is their perception that costs you. Correct home marketing is like shooting fish in a barrel!<br /><br />4. Have you had a nibble on the line?
If weeks and months have gone by without a single offer, you should review your price. Most sellers get a little tug on the line now and then.
As a seller sitting on an overpriced home, you might ask yourself, “Why doesn’t someone just make me an offer? “ You budgeted in some wiggle room, after all! The sad truth is that you have spooked your potential buyer, like the kid who throws rocks in the water where you are fishing. In the case of Dan and Julie, most buyers home shopping in their area were qualified for $299,000 or less and didn’t want to waste time with a listing that was $40,000 out of their league, especially since there were lots of other fish in the sea. Those that did bother to tour their home were not prepared to insult the seller with a lowball offer. Many lookers erroneously assumed that offers had been made and rejected, further discouraging a negotiating initiative.
It has been estimated that up to 70% of homes listed are initially overpriced, requiring one or more reductions before they eventually sell. Statistics also indicate that of the overpriced listings that do end up selling, the average sales price is only 87% of their original asking price. Even more disturbing, these stagnant homes languish on the market for an average of 120 days. A correctly priced home, on the other hand, averages 45 days on the market with an average selling price of 97% of the original list price.<br /><br />1. How do you know if your home is overpriced?
Pricing is not comparable to the other listings in your neighborhood. A trustworthy real estate professional will recommend a fair market price that has been established by expert analysis of comparable sales in your area. The process of selling a home is serious, and a whimsical spin-the-wheel pricing approach is folly. Your home must be priced in the same ballpark as similar ones in your neighborhood.
2. Pricing based on irrelevant factors.
When considering pricing your home for sale, did you try to factor in expensive repairs and upgrades? Big mistake! The ten grand you forked over for all new light fixtures, a new A/C system, and added insulation will not increase your home value dollar for dollar. The buyer might hate your fixtures, not care about energy efficiency, and the air better work, or he will ask you to knock thousands off your price if he is even still considering buying. Your stack of receipts does not impact a fair market price.
3. Has the phone stopped ringing?
The showings have slowed to a crawl or none at all. A lack of “buzz” is a bad sign.<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/">HERE</a>?<br /><br />Questions Concerning Probate and Real Estate?
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/">HERE</a>?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-04-12T14:52:00-07:002022-06-30T06:48:08-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13470Managing Estate Assets in Texas ProbateManaging Estate Assets
An estate asset is anything that has value. It can be a home, bank account, piece of jewelry, automobile, etc. One of your key duties as an executor is protecting and maintaining the estate’s assets. Ultimately, you may need to sell some or all of these assets and distribute the rest directly to the heirs.
Before you begin selling or distributing assets, it will make your job easier as executor to have a written plan for which assets you need to sell and which you can distribute to the heirs.<br /><br />Specific Bequests and Named Beneficiaries
The decedent’s will may specify that certain assets be distributed to specific heirs. However, not all such bequests can be honored. Sometimes the asset is no longer part of the estate, sometimes the bequest conflicts with local law (i.e., community property), and sometimes an asset must be sold to pay estate taxes.
Other items won’t pass through the will, but will be left to named beneficiaries. This can include life insurance, property held in joint tenancy or community property with the right of survivorship, funds in an IRA or 401K for which a beneficiary was named, stocks held in a transfer-on-death account, etc.<br /><br />Asset Sales
As the estate’s executor, there may be reasons you decided to sell an asset: to raise cash to pay off debts, to reinvest an asset elsewhere for better financial performance, or to make it easier to partition the estate. For instance, it’s much easier to divvy up cash among multiple beneficiaries than give one person a car, another a piece of art, and another a diamond ring.
It's also common to hold an estate sale to liquidate items the heirs don’t want. There are three approaches to estate sales:
Garage sale: this works well if there are only a small number of inexpensive items to sell.
Professional auction: if the estate is more significant, you can hire a professional auctioneer to hold an auction at your location or their site, depending on the size of the estate and the number of items being auctioned.
Estate liquidation: the most straightforward approach to selling assets is hiring an estate liquidator, which will also have a cost attached.
Check online to find an estate liquidator or professional auctioneer. Before selecting someone, talk with multiple services, check their references and meet with them personally to ensure everyone has a common understanding of what is being sold. And, of course, read all contracts carefully.
You can also sell individual assets directly through other channels. For example, take jewelry to a jewelry store or sell a car to a used car dealership, or online through a vehicle sales website.
If the estate is going through probate, you may need to secure the court’s permission before selling certain types of assets, or in some cases, any assets at all.<br /><br />Asset Disposal and Charitable Donations
Some assets have no value, such as frayed clothing, old newspapers, or piles of junk. If you can’t sell an item and none of the heirs want it, you may have to pay someone to dispose of it, or do it yourself.
Exercise caution when giving assets away to charities. Unless the will gives you the authority to do so, you don’t have the legal right to give away items of value, and charities generally won’t accept worthless items.
If the will does authorize you to make charitable donations, make sure no heirs are interested in an asset that has value, and get their permission to sell it in writing.
If an asset isn’t sold, disposed of, or donated, it will ultimately need to be distributed to an heir or multiple heirs.<br /><br />Dealing with Firearms
Dealing with firearms can be somewhat complex, depending on federal, state, and local regulations. Generally, an executor can distribute a typical gun to any close relative of the decedent, as long as the recipient isn’t legally prohibited from possessing it.
NFA Firearms: Certain weapons are regulated by the National Firearms Act (NFA), including fully automatic weapons, short-barreled rifles and shotguns, and silencers. These weapons and accessories must be registered with the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and any distributions or sales must be made according to ATF rules.<br /><br />
Gun Registration: A few jurisdictions require registration for more common types of weapons, although an executor usually has a short period to possess and then distribute a firearm without registering the gun themselves. You should check local rules.<br /><br />
Prohibited Persons: Generally speaking, you cannot give a weapon to a person who is legally prohibited from possessing it, such as someone sentenced to more than a year in jail, dishonorably discharged from the armed forces, or judged mentally incompetent. However, some states allow prohibited heirs to take possession of a gun for up to 180 days to sell or otherwise dispose of it lawfully.<br /><br />
Heir Responsibilities: Note that some states require the recipient of a firearm to obtain and possess a firearm license, register the firearm, and/or take a gun safety course.<br /><br />
Interstate Transfer: An heir can legally transport firearms across state lines subject to certain restrictions, such as keeping the weapon unloaded and in a locked container, out of easy reach of anyone in the vehicle, and being legally able to possess the weapon in the starting and final jurisdictions.<br /><br />
Sales: If selling a gun, some states require that private individuals perform a background check on a prospective buyer (usually through an FFL dealer).<br /><br />
FFL Dealers: Perhaps the safest way to legally transfer or sell a firearm is via a gun dealer with a Federal Firearms License (FFL), who can help you fill out any required forms, hold the gun for you, perform any background checks, and then release the weapon into the possession of the recipient when everything is complete. Check online to find FFL dealers in your area.
<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-04-05T07:29:00-07:002023-07-13T10:08:18-07:00David Pannelltag:citiesrealestate.com,2012-09-20:13467Estate Debts and Claim Limitations Probate TexasAs part of taking an inventory of the estate, the executor must look for and validate the debts of the decedent’s estate and be aware of claim limitations.<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Statute of Limitations and Claims Deadlines
Every state imposes a statute of limitations on debts, meaning that after a prescribed period of time passes, the debtor is no longer required to pay the debt. Typically, these time limits range from three years for open accounts, like credit cards, to ten years for contract debts, like installment loans.
When someone dies, these limitations may be extended to allow everyone ample time to get organized. This is called “tolling” the debt, but is not usually a significant factor in settling an estate since statutory limits are measured in years.
Statutory limits are also sometimes shortened because most states also have mechanisms for the estate to establish a time limit for claim submissions measured in months, not years. These shortened limits overrule any statute of limitations.
In Texas, creditors can submit claims against the estate until the estate is closed. However, if an unsecured creditor received a copy of the notice from you, the executor, then that creditor has 120 days from receipt of the notice to make a claim.
Texas maintains a four-year statute of limitations on general debts from their original due date. However, all such limitations are suspended for twelve months following the estate owner's death. In addition, the statute of limitations in Texas doesn’t automatically restart simply because a payment was made or a debt was acknowledged in writing.<br /><br />Informal Debt Claims
Some debts will be easily discovered as you go through the decedent’s mail or are contacted by creditors concerning insurance premiums, credit card balances, utility bills, etc.
You’re not obligated to pay these debts unless the associated creditor makes a formal claim against the estate, but most executors will honor a decedent’s debts for services rendered. Failure to pay the decedent’s bills could result in damages to the estate, such as foreclosure or frozen pipes bursting.<br /><br />Notice of Death Publication
If the estate you’re serving as executor is going through probate, you must typically publish a notice of death in the local newspaper where the decedent lived, but not in every locale where assets may have been located. The purpose of the notice is to inform potential creditors of the death. Depending on the state, creditors have three to nine months after publication to contact the estate concerning any death claims.
If a potential creditor misses the deadline, the estate is not obligated to pay the debt. However, debts to the federal government are often an exception to this rule.
Even if the estate is small enough to avoid going through probate, you may still wish to publish a notice of death. This can protect the estate from future debt claims, which can be problematic if the estate’s assets have already been distributed.
In Texas, the executor must publish a general notice of death in a newspaper of general circulation in the county where the decedent lived, announcing the executor's appointment and that creditors submit claims within the allowable period. The notice must be published within one month of executor appointment.
Within two months of being appointed executor, you must notify all known secured creditors of the decedent’s death, including those you could identify through a reasonably diligent search (i.e., a mortgage holder). The notification must be delivered by certified or registered mail, return receipt requested.
As executor, you can be held personally liable for failure to make any required notices.
You may also notify unsecured creditors such as credit card companies, setting their deadline for response to 120 days after receipt of notice.2022-04-01T06:19:00-07:002022-06-24T10:18:09-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12475Determining Asset Value
Among the many duties you assume as an executor is determining the value of the estate’s assets. Asset values are used to determine the type of probate needed (if any), allocate assets among heirs, calculate taxes, and fix cost basis for future sales by the estate or its heirs.
Assets must be valued twice: at death and at disposition.
Value at death – assets must first be valued as of the date of the decedent’s death. This is important for estate tax calculation (for very large estates) and for determining cost basis when an asset is eventually sold.
Value at disposition – assets also must be valued when they’re sold or distributed. Settling an estate can take months, if not years, and the value of assets changes, sometimes dramatically, during that period.
Value at disposition is used to calculate estate income taxes if the asset was sold or to calculate any state inheritance tax due, which should be allocated to heirs if the asset was distributed.<br /><br />Gross Value vs. Net Value
When calculating the value of an estate, the gross value is the sum of all asset values, while the net value is the gross value minus any debts (the actual worth of the estate). Gross value equals net value for most assets, but in some instances, an asset includes associated debt, such as real estate with a mortgage. In those cases, you should enter the gross value of the asset as its value and record the mortgage debt separately.<br /><br />Probate Value
If the estate you’re settling is undergoing probate, you’ll need to submit asset values to the court. Assets with designated beneficiaries, like 401 Ks and life insurance policies, normally bypass probate and shouldn’t be included in estate probate value.
Probate rules for estate valuation can vary by state. Some states use gross value, while others use net value. An executor needs to remember that all personal property is probated in the decedent’s home state, and real estate is probated in the state in which it’s located.
As the person who valued the estate’s assets, you may be challenged by the IRS, heirs, or creditors on the value you assigned an asset. Therefore, you’ll want to be sure that you’ve reasonably valued all assets.
Assessing Value
While certain assets are easy to value, like bank accounts or shares of stock, other assets can be more challenging, such as real estate, used cars, or collectibles. A real estate agent can assist you with real estate values by comparing similar properties, and the tax assessor’s valuation should also be considered.
Using a Professional Appraiser
A professional appraiser may be needed for jewelry, artwork, private businesses, and other assets you find difficult to value. Appraisers typically charge anywhere from $125 to $400 per hour, depending on the geographic area. Their rates may also be based on their level of expertise, and they may charge extra for a site visit. Appraisers who charge based on a percentage of an asset’s value should be avoided, as this goes against the Uniform Standards of Professional Appraisal Practice (USPAP) ethical requirement.
When hiring an appraiser, inquire about certifications and memberships in any professional organizations. To avoid any potential conflicts of interest, ask for a written estimate of the appraisal fee in advance and avoid hiring an appraiser who is also a dealer or offers to buy items for themselves.
There are also online appraisers, which can be faster and less expensive than working with a professional appraiser, but the appraisal won’t be as robust since the person valuing the asset didn’t have physical access to it.
Valuing Household Contents
Household contents is a broad category that can include furniture, books, gardening tools, appliances, tableware, etc. Instead of valuing each item individually, many executors list “household contents” as a single asset and provide an overall valuation estimate. Items that are particularly valuable, such as antiques, high-end artwork, etc., should be individually valued.
Valuing these assets can also be done through an estate sale, where you take what people are willing to pay for an item. Estate sales companies are available to help with this, which can help protect you from accusations of mismanagement.<br /><br />Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marine, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-03-25T04:00:00-07:002022-03-25T04:16:55-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12474Taking Inventory For Probate
One of your key responsibilities as the executor of an estate is to take inventory and identify all of the assets and debts related to the estate. Some will be readily apparent, while others will require some digging and detective work on your part.
Even if the decedent did some pre-death estate planning and left behind a comprehensive and well-organized set of documents, you will still have your work cut out for you as you take inventory.
One document that can prove very helpful is the decedent’s most recent tax return - it will provide information about assets and debts. As time passes, additional assets and debts often surface through various mailings and notifications.
Assets
Estate assets will include:
Real estate
Stocks
Bonds
Mutual funds
Jewelry
Furniture
Cars
Assets are anything that has value. Similar assets can be lumped into one category; for example, six individual stocks don’t each to be listed on your inventory. Instead, they can be lumped together under a single category such as “Fidelity Brokerage Account.”
Debts
Debts will include things like:
Mortgages
Car loans
Outstanding credit card bills
Any unpaid loan balances
Small debts like utility bills and rent payments can be paid by the estate while it’s being settled and don’t need to be inventoried as debts.
Questions Concerning Probate and Real Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside your area of expertise or comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marine, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2022-03-24T18:03:00-07:002022-03-25T03:55:51-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12375Essentials of Probate Success Dallas Fort Worth, Texas by David Pannell BrokerProbate is the court-supervised process of administering a decedent’s estate to distribute the net proceeds of the estate to the rightful heirs.<br /><br />Are the Services of an Attorney Required?
In Texas, if a small estate settlement process isn’t used, the law requires that an attorney represent the executor if there are heirs other than the executor or creditors involved.
Though a lawyer may be involved with the clearing of an estate, the executor will still have many duties to perform, such as tracking expenses, paying bills, etc.<br /><br />The Elements of the Probate Process
Though probate details can vary by state or county, there are many common elements of the probate process regardless of location:
Executor appointment: the first step in the probate process, it requires filing documents with the court, notifying potentially interested parties, and obtaining a probate bond.<br /><br />
Estate inventory: the executor must provide the court with an official inventory of the estate’s assets and debts. This inventory is often required along with the probate application.<br /><br />
Creditor notification: many states require that creditors be notified and advised on how to submit claims.<br /><br />
Family entitlements: a surviving spouse and other dependents often have rights to the estate superseding the terms of the will or legitimate claims from creditors. Some states require the executor to inform the spouse of those rights and wait a certain amount of time to let the spouse decide whether to file any claims.<br /><br />
Debt resolution: once an executor understands the estate’s overall finances, they must attempt to resolve all debts.<br /><br />
Tax payments and discharge of personal liability: the executor is responsible for filing a tax return for the decedent’s final year of life, and also for the estate.<br /><br />
Asset distribution: after all debts have been resolved and any taxes due have been paid, the executor can distribute the remaining assets to the rightful heirs.<br /><br />
Final accounting and probate closing: the probate process usually concludes with the submission and court approval of two documents: the Final Accounting Statement and the Probate Closing Statement.
<br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />Why Hire David Pannell & Cities Real Estate?
Experience the ease and peace of mind that comes with our comprehensive probate assistance services for families. Unlike attorneys who focus on legal matters, we specialize in the tasks that truly matter to you. From decluttering houses to connecting executors with reputable estate sell companies, we ensure that no aspect of the probate process is overlooked. We even go the extra mile by helping you donate unwanted personal property and providing valuable recommendations to enhance your property's value. With the current surge in investors aiming to purchase estate properties well below their actual worth, our guidance becomes even more crucial.
Whether buying or selling a home, it is our goal to make this important event a positive and enjoyable experience. We are committed to providing you with personal attention accompanied by courtesy, respect and professionalism.
David Pannell's Team is a top producing real estate team in the Fort Worth Texas. We have served thousands of clients and we are a trusted partner to many local and nonprofit organizations. Our mission is to educate our clients in the home buying and selling process. We focus on detailed systems and aggressive negotiating strategies to get our clients the best results every time.
Our success stories are filled with satisfied clients who have found tremendous value in our services, particularly those dealing with probated estates. By understanding your family's unique goals, we offer tailored options that align with your desires and aspirations.
When you choose us, you're not just getting a service; you're gaining access to a dedicated team and an entire service hub built around streamlining the probate process. We handle the intricate details, allowing you to focus on your busy life without the burden of overwhelming paperwork and logistics.
Let us empower you to take complete control of the probate process. Working hand in hand with our exceptional Probate Services team, you'll experience a faster, smoother journey with significantly less stress. Embrace this major life transition with confidence, knowing that we have your back every step of the way.
<a href="https://www.citiesrealestate.com/buyers/" title="Thinking about buying a home">Thinking about buying a home?</a> You have found the best search engine to do just that. In addition, our team will get you priority access to all the best deals the moment they come on the market…. and in this competitive market you have to have that sort of access to nail down a great deal! If you are looking to sell your home we specialize in getting our clients maximum exposure and top dollar every time.
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. He is a realtor you can trust to help you find your treasure in Covered Bridge Canyon or sell your home as you begin the next chapter in life. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David</a> today at (817) 797-9047.<br /><br />4 Types of Probate
The state for which you’ve been appointed executor may not need to go through probate, but if it does, there are four types:
Summary – the shortest and easiest form of probate, it’s usually applicable for small, simple estates.<br /><br />
Informal – the most common type of probate, it requires that there are no disputes that the court will need to resolve.<br /><br />
Formal – lengthier and more expensive, formal probate can resolve disputes, usually with the assistance of an attorney.<br /><br />
Supervised – the rarest type of probate, it’s used when the court finds that an heir needs protection, such as a minor child or someone deemed incompetent in some manner.
The type of probate an estate will require, if probate is in fact even needed, is determined at the state and county level; there are no federal probate requirements.<br /><br />The Location of the Court
The particular type of court overseeing the probate process will vary by state: it may be a dedicated probate court, superior court, circuit court, general county court, or something else. Regardless, real property must be probated in the state where it is physically located, which may require an estate to pass through probate in multiple states.
Probate Costs
Probate court costs are typically nominal – usually a few hundred dollars. The more significant expenses involve paying thousands of dollars to attorneys, appraisers, accountants, and other professionals (the average estate spends over $12,000 on attorneys and accountants).
Probate Benefits
If probate is required, one clear benefit of an executor is that they will be following the law. But, even if probate isn’t legally required, the process can shield an executor from disgruntled heirs and get the executor formal documents known as “Letters,” which make it easier for an executor to prove their authority to third parties, such as banks and investment firms.
An Alternative to Probate: the Affidavit
If probate is not required, many states allow an executor to claim estate assets using a simple sworn statement (affidavit) and that they’ll be taking possession of the asset. In some instances, a copy of the death certificate will also need to be provided.
If the estate owner dies intestate (without a will), the executor will likely need to use an Affidavit of Heirship, which states the location and date of the decedent’s death, as well as the name and address of all heirs specified by statute.2022-03-16T07:06:00-07:002023-07-08T07:14:14-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12368Probate For Small Estates TexasMany states, including Texas, allow “small” estates to bypass standard probate, saving the estate, its executor, and its heir's considerable effort and cost.
Different states define “small” differently, and an estate worth millions of dollars may even qualify as “small.”
When determining if an estate meets the qualifications of being considered “small,” only the values of assets that would normally go through probate should be counted. Community property with rights of survivorship, assets with named beneficiaries (e.g., life insurance policies, IRAs, 401(k)s), and other standard probate exclusions should be excluded from the calculation.
Excluding these assets that may be considerable in value can mean the difference between a substantial estate bypassing probate or not.<br /><br />Qualifying as a “Small” Estate in Texas
If the qualified gross value of an estate in Texas is under $75,000 and there is no will, the small estate process can be used with almost no court involvement.
To use the small estate process in Texas, the following five conditions must be met:
The estate’s qualified gross value is <$75,000
There is no will
At least 30 days have passed since the death of the estate owner
The estate is solvent (the non-exempt assets are worth more than the debts)
No petition has already been made to the court to officially appoint a personal representative
When determining if an estate qualifies as “small,” assets should be valued as of the date of death, and unsecured debts should be ignored. In addition, assets that would not usually go through probate should also be excluded.<br /><br />General Settlement Approaches
If the estate qualifies as “small,” there is often a waiting period, after which you can use one of the following approaches (depending on the state):
Small Estate Affidavit: complete a sworn statement concerning estate inventory and heirs, then use the affidavit to obtain possession of estate assets from current custodians. If done correctly, no court will usually be involved.
However, on occasion, a current property custodian won’t understand the process and may resist relinquishing possession of an asset. In that instance, court involvement may become necessary.
Summary Administration: many states allow an abbreviated form of probate, in which an interested party submits documentation to the probate court attesting to estate assets, debts, and legal heirs. In return, they obtain a court order allowing them to settle the estate according to a substantially simplified process.
Other: some states provide alternate ways of handling small estates, such as the Texas Affidavit of Heirship.<br /><br />A Word of Caution for Executors
Even if the estate you’re administering qualifies for small estate treatment, consider going through the probate process anyway for the increased liability protections and protections from creditors it provides.
For example, a creditor can take heirs or the executor to court if debts are not satisfied and distributions are made to heirs that could have been used to pay the debts.
Also, consider probate if estate solvency is uncertain or you’re concerned as executor that the estate may become embroiled in a lawsuit (e.g., a disgruntled employee or resentful heir).<br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.2022-03-15T12:28:00-07:002022-06-28T14:45:46-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12342Key Executor Duties For ProbateOne reason some people don’t succeed in a job is they weren’t made fully aware of what their responsibilities were. Or, as author Steven Covey wrote, “they had their ladders up against the wrong wall.”
To help you succeed as an estate executor, here is a list of key executor duties you need to be aware of. You may, or may not, be called upon to perform all of these duties. Your exact responsibilities will be impacted by the size of the estate and the amount of pre-death planning done by the estate owner.
Arrange the Funeral
Though this isn’t a legal requirement, many executors are asked to manage funeral arrangements and other details related to the burial of the estate owner, including buying a headstone, writing the obituary, arranging for an honor guard, and more. In addition, coordinating funeral arrangements and payment with in-force insurance policies may be required.
Collect and Inventory Estate Assets
This may mean taking physical possession of tangible assets like jewelry, vehicles, and homes, as well as taking control of financial assets such as bank accounts and investment portfolios. This should be done as soon as possible. Still, some assets held by custodians like financial institutions typically require you first to be appointed executor by the probate court, which can take several weeks or longer.
Collecting all of the assets can be challenging for an executor. Even if the decedent left behind a list, you might receive account statements in the mail from previously unknown assets. Other assets may surface through conversations with advisors like attorneys or accountants, looking at previous tax forms, or performing online searches for retirement plans, life insurance policies, abandoned assets, and more.
You’ll also need to value these assets, which is straightforward for bank and investment accounts but not as easy for real estate, cars, and collectibles. Using professionals like real estate brokers and appraisers for asset valuation may be necessary.
Initiate Probate (If Required)
Not all estates need court involvement. Generally, an estate won’t have to undergo probate if it only contains assets that automatically transfer to named beneficiaries (life insurance policies, IRAs, other retirement plans) or if the estate qualifies to use a state-specific small estate procedure.
Protect and Manage Assets
An executor is responsible for protecting and managing estate assets, including taking reasonable steps to minimize asset risk. This might mean locking up valuables to prevent theft and making sure valuable assets remain insured, such as homes, cars, and valuable collections, including wine or art.
Protecting a home requires an executor to be proactive. The home will need to be reasonably maintained, including routine maintenance like yard work. A house may also need to be protected from fire and flood hazards, leaky roofs, and even vandals who could be attracted to an obviously abandoned property.
If the decedent owned all or part of a business, you’ll also be called upon to ensure the company continues operating, unless the business depended solely on the efforts of the deceased, such as them being a solopreneur or a professional practicing privately. Depending upon circumstances, you may need to manage the business yourself or hire a professional manager.
Protecting investments like retirement plans and equities like stocks or crypto involves a degree of risk for an executor. If the decedent owned some speculative stocks, for example, you might be tempted to cash out and leave the proceeds in a conservative money market account to avoid having the asset lose value, but you could be faulted for having the money market account lose value due to a low rate of interest credited to the account combined with inflation. If you’re not an experienced investor, you may want to obtain professional advice.<br /><br />Notify Required Parties
There are numerous organizations and people you will need to notify about the estate owner’s death; some of these notifications are time-sensitive. They include:
IRS
Social Security Administration
DMV
Post office
Creditors
Financial institutions
Life insurance companies
Utility companies and other service providers
Heirs
Pay Required Taxes
Another one of your duties is to pay all required taxes. This includes income taxes for the decedent (for their last year of life and any other unresolved tax years), income taxes for the estate while the estate is being settled, federal estate taxes, state estate taxes, and state inheritance taxes.
Additionally, you need to pay local property taxes for any property contained within the state. Note that federal and state taxes have priority over most other claims on the estate, including standard debts.
Resolve Estate Debts
Resolving the estate’s debts should be completed before distributing remaining assets to heirs. As executor, you may be held personally liable for estate debts if you make distributions rendering the estate incapable of paying its debts, even if the debts were unknown at the time.
Account for Results
You’ll need to prepare a Final Accounting of the estate, showing its assets, income, expenses, changes in asset value, and distributions. This is usually a required report that must be submitted to the court if the estate is passing through probate.
Settle the Estate in a Reasonable Time
There are no set rules on how long settling the estate should take; that will depend on many variables like estate size, location, contestation by heirs, etc. Regardless, you do have a duty to act reasonably and attempt to complete settlement within a reasonable period. Unhappy and impatient heirs can petition the court to have you removed if they believe you’re not acting in a timely manner.
Act in the Best Interests of the Estate
You have a fiduciary duty as executor to always put the estate’s interests ahead of everyone else’s – including your own. Some decisions won’t have a clear answer, requiring you to use your best judgment. For example, you can’t sell an asset at below-market price to a friend.
Act Ethically
As executor, you must always follow the law and adhere to the highest ethical standards. Of course, you’re not expected to achieve perfect results, but you are required to follow the standard of a “reasonable, prudent individual.”
For your protection, keep accurate, detailed records of all your actions, particularly concerning financial transactions. When you’re addressing areas you may not know very well, such as real estate valuation and complex investments, you may want to seek professional assistance.<br /><br />Questions Concerning Probate and Eeal Estate?
Certain aspects of settling an estate, like handling an estate’s real estate holdings, may be outside of your area of expertise or your comfort zone. If in doubt, work with a professional.
If you have questions concerning probate and real estate in Tarrant, Denton, Parker, Wise, Collin, or Dallas County, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marine, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let the US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major and this life transition.2022-03-14T17:34:00-07:002022-06-29T09:48:55-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12325Why Hire US? Cities Real Estate - David PannellWHY HIRE US?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.2022-03-13T13:17:00-07:002022-03-14T06:37:45-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12324Ms V. Story After Working with Cities Real Estate, David Pannell <br />While making calls to families with property going through probate, I got connected with Ms. V and had a great conversation. Her situation thus far had been timely and stressful. A distant cousin had passed away and she was made the temporary administrator of the estate. There was not a will, and no additional heirs that could be found. Ms. V. was prompted to go through an additional process with the court to make her the sole permanent executor. Because there was no will, she was obligated to get top dollar for the property which makes the faster and easier cash offer route more difficult. In addition to trying for top dollar, a judge has to approve and sign off on the sale based off comparable values in the area. Being that Ms. V lives over 4 hours from the subject property, this has added another layer of difficulty for her and the family.
Cities Real Estate helped Ms. V get the property sold and the situation behind her. First we sent a thorough comparable market analysis of the property and came up with a value that would allow the property to sell in the shortest amount of time and the most amount of money. We also helped her come up with a timeline for going ACTIVE on the market, handled all calls and inquiries, and applied the proven Cities Real Estate action plan for getting properties SOLD.
Once Ms. V had all of this info in hand it made for a smooth court process and was approved by the judge. From there we were able to help get the property SOLD for over the asking price in less than 30 days.
Along with all of the listing documents, we also provided Ms. V with a real cash offer in writing so she could provide the judge with more than one option. Based off the value of the property and the strength of the cash offer, the judge allowed it to go through which enabled the property to be closed in 2 weeks Not only did this allow Ms. V to put this stressful situation behind her, but she could return to her normal life knowing things were handled properly and done the right way.<br /><br />Questions concerning probate and real estate?
If you have questions concerning probate and real estate in Tarrant, Parker, Wise, Collin, Denton, or Dallas County, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marine, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.2022-03-13T13:02:00-07:002022-11-07T17:39:23-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12290As An Executor, Do You Need a Lawyer For Probate in Texas?If you do some reading up on being an executor, a common piece of advice you’ll see is “hire a lawyer.” Depending upon the complexity of the estate, you may decide to seek legal advice from an experienced attorney who’s familiar with your state’s laws and how local probate works.
However, not all executors need to turn an estate being probated over to a lawyer, or even hire one for limited advice. If the estate you’re handling isn’t too large, is pretty clear-cut, and doesn’t contain any assets that could be considered unusual, you may be able to fulfill your responsibilities as executor without a lawyer’s help.
Answering the questions below will help you determine if you can wrap up the estate on your own. If you’re unsure of the answers, consult with an attorney and run through these questions with them.
Can the decedent’s assets be transferred outside of probate?
Ideally, all of their assets can be transferred to heirs without going through probate. But, this will depend on how much (if any) probate-avoidance planning the estate owner did before they died.
Common examples of assets that don’t need to go through probate include community property, assets held in joint tenancy, or tenancy by the entirety. Assets held in a living trust can also bypass probate. Probate is also unnecessary for assets for which the decedent names a beneficiary, like retirement accounts or life insurance proceeds.<br /><br />Does the estate qualify for your state’s simple “small estate” procedures?
It’s preferable that no amount of probate is required, but if that’s not possible, determine if the estate can use small estate procedures. In most states, these include “summary probate” and a completely out-of-court process that requires presenting an affidavit to the institution or person holding the asset. Every state has its own rules on which estates can use the simpler procedures, but most states allow it, even for estates that can be considered relatively large.<br /><br />Probate is pretty straightforward in states that have adopted a set of laws called the Uniform Probate Code. In those states, probate is conducted with minimal court supervision.
The Uniform Probate Code was first created in 1969 by the National Conference of Commissioners on Uniform State Laws (NCCUSL) and was amended in 1990 as a model code that states could adopt to standardize probate laws.
The entire Uniform Probate Code has been adopted by eighteen states (listed below). Other states have adopted parts of the Uniform Probate Code, but it has not become a standardized law across all fifty states. Alaska Arizona Colorado Florida Hawaii Idaho Maine Massachusetts Michigan Minnesota Montana Nebraska New Jersey New Mexico North Dakota South Carolina South Dakota Utah<br /><br />Rarely is a will contested by a family member, but if that’s the case in your situation – talk with a lawyer immediately. Probate lawsuits can drain an estate financially and cause irreparable damage to the relationships of family members. An attorney may be able to prevent a court battle.
Is there enough money in the estate to pay debts?
If the estate has enough money to pay legitimate debts, such as final income taxes, expenses related to the last illness, and funeral costs, and there is some money left over for beneficiaries under the will or state law, you won’t have to decide which bills to pay.
However, if you determine there isn’t enough money to pay debts and taxes, you shouldn’t pay any bills before talking with a lawyer. State laws give some creditors priority over others; an attorney can help you prioritize who gets paid initially, and in what order.
Will the estate owe either state or federal estate tax?
Under the current tax law, more than 99.7% of estates don’t owe any federal estate taxes, so this will probably not be a concern for you. But, nearly 20% of states impose their own estate tax laws, with many of them taxing estates valued at $1 million or greater.
If the estate you’re working on needs to file an estate tax return, either with the Internal Revenue Service or the state taxing authority, use the services of an attorney.<br /><br />Questions Concerning Probate and Real Estate?
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/">HERE</a>?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/">HERE</a>?2022-03-10T11:11:00-07:002022-06-30T07:59:30-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12280Vacant Property Insurance in Texas?<br />Make sure to get your properly insured. This is so important that it’s actually #4 in your Duties and Liabilities as a Personal Representative. DO NOT Take this risk! Your property may be vacant because you’re doing renovations, it’s on the market, or you’re looking for the right tenant.Owning a vacant property comes with special risks. In fact, some insurers won’t cover them at all.
TOP 6 VERY IMPORTANT items to consider:
Does the average homeowner’s policy cover a property that is unoccupied? No, it does not. The home must be occupied or the insurance company must be informed of the change and update the policy.<br /><br />
When does the policy coverage terminate due to non-occupancy? Typically, 30-45 days, depending on the insurance carrier.<br /><br />
If the policy terminates, will the insurance carrier still charge the estate? If the house is vacant, the insurance policy will terminate, and the insurer should not bill the estate.<br /><br />
What should I do to protect unoccupied property? You will need an unoccupied property policy to protect what is generally the estate’s most valuable asset: the real property.<br /><br />
If someone needs this policy, how fast would coverage go into effect? Immediately. Once the policy is in place, can the Personal Representative cancel the previous policy? Yes.<br /><br />
Are unoccupied policies more expensive? It depends on the house.
<br /><br />Questions concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
2022-03-09T12:59:00-07:002022-06-28T12:02:56-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12238Fiduciary Duty For Probate TexasActing as the executor of an estate will require time, effort, and attention to detail. It’s not an overly complicated role, but it does carry a tremendous amount of responsibility, including acting as a fiduciary throughout the process.
Being a fiduciary means that you have a legal obligation to always act in the best interests of the estate – even if it’s not in your own best interests. It requires the highest ethical standards, with most states requiring that you follow the standard of a “reasonable, prudent individual.”
Keeping accurate records of all your actions, especially financial transactions, will help you prove that you’ve been faithful to your fiduciary responsibility, as well as getting professional assistance in areas you may not be very familiar with, like real estate and business valuations, complex investments like cryptocurrency, etc.<br /><br /><br /><br />Asset Protection
It can be a breach of your fiduciary responsibility if you fail to protect estate assets or do something damaging to the estate, like investing irresponsibly. Asset protection is a broad concept and ranges from ensuring valuables are locked up in a safe to ensuring that valuable insurance policies don’t lapse because of non-payment of premiums.
If there are substantial investment and insurance assets involved, consider enlisting the services of a professional investment manager or Certified Financial Planner.
Timely Filings
As executor, another fiduciary responsibility is to submit estate tax forms on time. Not doing so can result in you being held personally liable for damages.
In addition to submitting required forms in a timely manner, there may also be other important filings you’ll need to make, such as annual property taxes, business license fees, payroll taxes, etc. The help of a Certified Public Accountant can be helpful with many of these filings.
Limits of Authority
You also need to be sure that you have the authority to take significant actions. For example, if the estate is going through probate, don’t sell real property unless given permission by the court. If the decedent owned a business, make sure you understand the ownership situation and the legal rights of any co-owners before making any substantial changes, including liquidating the business or selling ownership shares. A corporate attorney can advise you in this area.
Fair Distributions
The estate’s heirs must receive what the will and other legal directives dictate that they receive; nothing more and nothing less. Therefore, you can’t show favoritism to anyone, such as through obvious excess distributions or those caused by skewed asset valuations.
Record-Keeping
As a fiduciary, it is in the estate’s best interests, and yours, to be able to account for the estate’s original assets and debts and what you did with each. Even if you aren’t ever held accountable by an individual like a family member or business partner, you’ll likely need to submit detailed records to the court if the estate is passing through probate.
Remember, failing to follow your fiduciary duty can be costly, both in terms of fines and possible jail time. As an executor, even honest mistakes can cause you significant legal and financial problems, so don’t try to take on this challenging role all alone if you’re dealing with a complex estate. You won’t be faulted for enlisting the aid of professional advisors, but you may be held accountable if you don’t.<br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.2022-03-07T17:28:00-07:002022-06-28T17:32:56-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12203Becoming An Estate Executor Probate TexasBeing requested to serve as an estate executor is a compliment and should not be taken lightly. The estate owner thinks highly enough of you to offer you a substantial role in the life of their family. It’s a significant responsibility requiring substantial time and effort, and much thought should go into accepting it.
Ideally, the estate owner discussed the role with you in detail before they passed away, and you knowingly agreed to serve as their executor. If you have accepted their request but decide to decline when the time comes to serve, you’ll be able to do that without much difficulty. Someone else will need to act as executor, and the court will appoint someone, if necessary.<br /><br />Questions Concerning Probate and Real Estate?
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/">HERE</a>?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/">HERE</a>?<br /><br />Other Paths to Becoming Executor
If the person initially designated as executor by the decedent refuses the responsibility when the time comes, and nobody else exists who meets the default criteria to serve (i.e., named in the will or default line of succession), the court will appoint an executor. That person can be a professional, or perhaps someone desiring the role but has no legal standing to demand it. Bear in mind, the court is not always obligated to follow the desires of the will or the default succession.
If you’d like to serve as executor, but there are others with a higher priority than you, you can still serve if they’ll submit a signed waiver stating they don’t wish to serve.<br /><br />Being Officially Appointed
If the estate does require going through probate, there are several steps you have to take to be officially appointed as estate executor:
File a Petition for Probate with the decedent’s local probate court. If there is no will, the document will be a Petition for Administration.
Before the initial probate hearing, all heirs must be notified by you, as well as any heirs who would inherit by state law if there wasn’t a will (even if there is a will).
A probate hearing will be held by the court to approve your appointment as executor. This hearing is usually just a formality, and you may not be required to attend.
Objections to appointment: interested parties have the right to legally challenge your appointment as executor, regardless of the reasons you were appointed.
If the court requires it, you must obtain a probate bond before officially becoming the estate’s executor. This bond protects the estate from any losses you may cause. The bond’s requirements can depend on the estate size, jurisdiction, if you reside in the same state, and other factors.
The final step in being officially approved after the probate hearing has been held is to receive your official documents from the court declaring that you are the executor of the estate. These documents are commonly referred to as your “Letters.”<br /><br />Preparing to Become Executor
To effectively execute the role of estate executor, there are some things you can do in advance that will prove helpful in performing your duties and will lower the stress levels of everyone involved in settling the estate. These include:
Determine the location of essential items: such as the original or copy of any will, advance medical directives, social security number, location of keys and combinations, property deeds and vehicle ownership certificates, information on outstanding debts, tax submission information, and funeral arrangements that have been prepaid.
Obtain power of attorney: though power of attorney will become void when the estate owner dies, having this authority in the final stages will give you the ability to make important decisions and take appropriate action.
Access to safe deposit boxes: have the estate owner add you to the bank’s list of people who can access any such boxes.
Explore funeral options: this is usually much easier done in advance and eliminates a stressful, and sometimes emotional, process during a very challenging time for the decedent's family.
Acting as Executor
You are entitled, upon the death of the estate owner, to act as executor if:
The will names you as executor
If there is no will, you are first in line to serve according to state law (e.g., surviving spouse, child, or other relative)
Or, the local probate court has named you as the estate’s executor
If the estate is required to pass through probate, the court will officially need to appoint you, regardless of any other criteria listed above. If the estate isn’t required to go through probate, you don’t need an “official” appointment.2022-03-04T11:18:00-07:002022-06-30T06:20:27-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12166Choosing an Executor For Probate In TexasThe first step in the eventual settlement of an estate is selecting the individual who will serve as the executor of the estate. This is a critical decision that the estate owner must make since the <a href="https://www.citiesrealestate.com/blog/what-is-an-executor/" title="What is a executor">executor</a> will accept the responsibility of settling the estate.
Choosing an executor has significant ramifications for the estate owner. The executor’s actions will have an impact on the owner’s legacy, and they bear the responsibility of ensuring all final obligations are fulfilled and that the estate’s assets are distributed per the owner’s wishes
It also has significant implications for the person selected as the executor, considering the considerable time and effort that will be expended and the legal and financial risks they’ll assume.<br /><br />Questions Concerning Probate and Real Estate?
Home Values have Risen - Ask David Pannell to evaluate your home <a href="http://askdavidpannell.com/" title="whats my home worth">HERE</a>?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />Selection Criteria
There are many factors to consider when choosing an executor:
Ability: the role of an executor requires the ability to organize, act responsibly and with sound judgment, adhere to schedules, and understand financial matters. An executor doesn’t need to be an expert in all things or personally fulfill all responsibilities. Most executors will hire various professionals to assist with certain aspects of the estate, including attorneys, accountants, real estate agents, cleaning services, etc. Above all, the executor must conduct themselves fairly and ethically.
Health: candidates to be named executor should be in good health presently and expected to remain so for the foreseeable future. The estate owner should update their will if the chosen <a href="https://www.citiesrealestate.com/blog/what-is-an-executor/" title="What is a executor">executor</a> becomes incapable of performing their expected duties or passes away.
Finances: candidates should have excellent credit since an executor bond may be required for the estate, depending upon the will and particulars of the estate.
Location: ideally, the potential executor will live in the general vicinity of the estate owner’s residence and physical possessions. This makes it much simpler for them, rather than someone living hundreds of miles away. In addition, some states require out-of-state executors to obtain an “in-state agent,” which is not difficult to do.
Communication skills: clearing an estate can be challenging and fraught with delays. Heirs and other interested parties can become anxious if they aren’t kept informed about what is happening – an effective executor can skillfully keep everyone calm and reasonably patient.
Criminal record: it should be noted that convicted felons cannot usually serve as executors.
Older adults frequently select an adult child to serve as <a href="https://www.citiesrealestate.com/blog/what-is-an-executor/" title="What is a executor">executor</a>, while younger adults often choose a parent or an aunt or uncle.<br /><br />Agreement to Serve
Estate owners should talk with their desired executor in advance and fully explain the role and its responsibilities. The executor’s job isn’t easy, often requiring more than 500 hours of effort over 16 months. They must notify government agencies, clean out residences, pay off debts, file taxes, distribute assets to heirs, and more.
The executor should also be aware they’ll be exposed to financial and legal risks, since failing to act in accordance with the law can result in stiff penalties, including jail time in extreme cases.
Once an executor agrees to serve, the estate owner’s will should be modified immediately, explicitly naming them as executor. Estate owners can supply the named executor with a copy of the will or inform them where to find it when the need arises.
Newly chosen executors should also be provided a high-level overview of the estate by the owner, along with instructions on gaining access to estate particulars once the owner has passed away.<br /><br />Alternate Executors
Though an executor has been chosen, approached by the estate owner, and agreed to serve, that doesn’t obligate them to do so when the time comes. An executor can always change their mind before the estate owner dies, and even midway through the settlement process. For example, they may decide they no longer have enough time, have health issues, or have a falling out with the estate owner since the drafting of the will.
Because this can happen, it’s prudent for an estate owner to name an alternate executor. If an alternate isn’t named and the named executor can’t or won’t serve, the local probate judge will assign an executor, usually a close relative or legal professional.<br /><br />Multiple Executors
Estate owners sometimes name more than one person to serve as executor. This is done to prevent the appearance of favoring one child over another, and to ensure fairness and transparency. It is also done if an estate is so sizeable that it would be too much of a burden for one person.
However, there are several downsides to naming multiple executors. Courts and financial institutions often require co-executors to sign documents, which can be a burden logistically and can become particularly problematic if not all executors agree on a particular course of action.
Having multiple executors can also increase fees, which reduces the size of the estate that will eventually be distributed to the heirs.<br /><br />Professional Executors
Appointing a professional to serve as the executor of an estate brings certain advantages. They understand the estate process and can more easily follow all rules and regulations, and be trusted to act impartially and with the fairest and highest ethical standards.
The downside of a professional executor is that it’s unlikely they’ll be concerned about the estate owner’s legacy as much as a family member or close friend will. They also won’t know the interpersonal dynamics of the individuals involved and may not make certain decisions or resolve conflicts the way the estate owner would have preferred.<br /><br />Executor Fees
An executor, professional or not, is typically compensated for their services. If compensation isn’t specified in the will, state law will determine the amount to be paid. Since regulations vary so widely by state, many estate owners state in their will that they’d like their executor compensated according to default state law, along with any modifications they’d like to make to the compensation (such as an additional fee of $10K, for example).<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.2022-03-03T06:49:00-07:002022-06-29T15:30:11-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12146What is an Executor For Texas Probate Courts?The executor of an estate is the person responsible for settling the estate of someone who has passed away (decedent). This individual is often an adult child of the decedent or another close relative. It can also be an attorney, a personal friend, or someone appointed by the courts.
You may also hear executors referred to as the:
Executrix: often used when the executor is female.
Administrator: if the courts appoint an executor because the decedent died intestate (without a will), that person is known as the estate “administrator.”
Personal Representative: some jurisdictions using the Uniform Probate Code refer to executors as a “personal representative.”
For simplicity, Cities Real Estate will use the generic term “executor.”
Duties & Responsibilities of Executors
Looking at the role from a 10,000 foot view, the role of the executor is very straightforward: manage and bring to a close a decedent’s estate. This includes:
Discovering, managing, and protecting the assets of the estate
Filing legally required paperwork
Resolving debts
Paying applicable taxes
Distributing net assets to heirs in accordance with the will or applicable statute if there wasn’t a will
An executor has a fiduciary duty to fulfill each of these responsibilities, meaning they must act in the best interests of the estate, not their own personal interests. In addition, they must follow what most states describe as the standards of a “reasonable, prudent individual.”
The primary duties and responsibilities of executors include:
Arrange the funeral
Collect and inventory estate assets
Initiate probate (if required)
Protect and manage estate assets
Notify required parties
Pay required taxes
Resolve estate debts
Distribute net assets to rightful heirs
Account for results
Settle the estate in a reasonable period of time
Act in the estate’s best interests
Follow the law
Act ethically
Time & Effort Required of an Executor
Serving as an estate’s executor requires significant time and effort. On average, it takes approximately 16 months and 570 hours of work by an executor to settle an estate (varies on the size and complexity of an estate). An Executor’s Assumed Risks
There is an element of financial risk inherent in being an estate executor.
An executor can be fined by the courts or sued by other parties if they feel the executor has failed to fulfill their duties. Legitimate grounds for lawsuits include failure to act in a timely manner, failure to follow the terms of the will, failure to adequately manage or protect assets, engaging in illegal activities, and more.
Executors can also be held personally liable for mistakes they make that result in financial losses to heirs. For that reason, courts often require executors to post bonds to cover damages.
Unintentional mistakes can also be costly to an executor. For example, an executor who distributes assets before the entire settlement is complete, then later discovers there aren’t sufficient funds to pay remaining debts, could be held liable and become personally responsible for fulfilling the remaining obligations.
Finally, because of liquidity issues concerning assets or the inaccessibility of estate funds, executors may sometimes have to spend personal funds to cover estate expenses until they can be reimbursed by the estate. Compensation
Because of the aforementioned risks involved with being an estate’s executor and the time invested in fulfilling the responsibilities, executors are generally compensated for their efforts. Laws and accepted practices vary by state and sometimes local jurisdictions. Compensation may be expressed as a percentage of the estate’s value, calculated in terms of the effort needed to be expended, or additional factors.
Naming Multiple Executors
On occasion, a will may name multiple individuals as co-executors of an estate. This can complicate the settling of an estate because executors must agree unanimously on actions concerning the estate. If one of the executors relinquishes their duties, an alternate executor named in the will or an executor appointed by the court will replace that executor.
In the case of multiple executors, compensation is typically split amongst them; share size is often determined upon individual effort expended. However, some states do have specific rules for handling the payment of multiple executors.<br /><br /><br /><br />Becoming an Executor
Ideally, a person writing a will names an executor in advance, discusses the role and responsibilities with the named executor, who will then have the opportunity to accept or refuse the offer.
However, sometimes the person writing the will names an executor in advance without informing that individual, who is then surprised by discovering the assignment upon the death of the person who wrote the will. If the named executor decides to decline the assumption of the role of executor, most states will honor their decision.
In such cases, the court will appoint an executor if no one else assumes the role since the estate requires an executor.
<br /><br /><br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.2022-03-02T10:05:00-07:002022-06-28T17:36:53-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12276How Can We Help You? Probate Questions?We have a team member for every task the attorney’s don’t do?
Nearly 77% of estate homes in our area expire with no offers because they are overpriced and under-marketed. If we can get involved early, we can save the estate a lot of money — sometimes tens of thousands of dollars. That’s because we do so much more than put a “For Sale” sign in front of the property.
We help sell items from the house, get it cleaned out, and suggest repairs that our experience shows increases the sales price. We start by understanding the family's goals.
Then, we'll make suggestions and give you options to help you sell the property and move on with your life. After the sale of the estate’s property, we can show you how to invest your profits or protect your assets for the future.
<br /><br />Questions concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
2022-01-11T11:54:00-07:002022-06-28T12:28:41-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12261Personal Representative Dallas Fort WorthHello, my name is David Pannell, Broker for Cities Real Estate.
You may not have expected to be the executor of an estate. How will you best carry out your responsibilities? If the sale of property is required, do you know how to realize the most money for the estate?
When the court appoints you as Personal Representative of an estate, you take on a tremendous amount of responsibility. The first thing you must do is read your Duties and Liabilities. This two-page form provides guidance on 6 critical areas;
We have helped many executors navigate their responsibilities and maximize the return when the estate’s real property is sold. You may receive dozens of calls from investors who want to buy your home. They claim they will save you money because they don’t charge real estate fees and will pay your closing costs. This is achieved by paying you well below market for your property.
Investors need to buy low so that they can pay all the costs associated with a sale. These include closing costs, property renovations, real estate commissions, and holding costs. You pay for them by selling your property at such a low price!
Our job is to help you get the most money for the estate when the property is sold. I can help you find people to clean out, donate to, fix up and get the home ready for sale. Our listings sell for 8% more than average and in less time, We sell 98% of our listings. And, if the person who wants to buy the estate property needs to sell a home first, we will step in and buy that person's home so they can buy the your estate property.
There's no cost or obligation to a conversation.
For more information or to discuss, there’s no cost or obligation. Call 817-797-9047 or go to probateresults.com to schedule a no-risk consultation. We are here to help.
David has been an agent/realtor since 2005. He has served as a United States Marine, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.2022-01-01T07:58:00-07:002022-03-12T12:44:57-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12277Getting Started With Texas ProbateIt’s natural to have a case of the butterflies when you begin carrying out your duties as executor. Unless you’re an attorney, you’re probably stepping into an area you’re not very familiar with and maybe feeling some pressure to keep your promises to the deceased estate owner and meet the heirs' expectations.
In addition, you may also be working through grief associated with a recent loss. Unfortunately, there are immediate responsibilities you have to attend to as an executor, lessening the time you have to deal with your own needs.
Here are some initial steps you’ll need to take that you should be aware of, which will make the overall process of being an executor easier for you.
First things first...
Some of the first things you may need to take care of right away include:
Making funeral arrangements
Securing estate assets
Locating a copy of the will
Notify the Veterans Administration
Ordering death certificates
You’ll also need to keep an eye on the calendar and be aware of year-end legal and tax filings for both the decedent’s personal and business interests (if applicable).<br /><br />Looking at the big picture...
At its core, the executor’s job is to manage and wind down the decedent’s estate, review the will, resolve debts, file legal paperwork, and distribute assets to heirs. An executor is obligated to:
Arrange the funeral – including burial or cremation, memorial service, obituary, etc. (these arrangements may have been made before the death of the estate owner)
Take inventory – accurately record the estate’s assets and liabilities
Legally become executor – get appointed by the court (if the estate is going through probate)
Send notifications – notify family, friends, Social Security, insurance companies, etc.
Manage the estate – plan for asset distribution and maintenance
Resolve debts – pay debts in full or secure debt forgiveness
File taxes – pay income taxes, inheritance taxes, estate taxes, etc.
Make distributions – distribute assets to the heirs as directed by the will
Finalize estate settlement – including probate final accounting (if applicable)
As you go through the process of settling the estate, you may need to file taxes and legal paperwork, which could require the assistance of an accountant or attorney. The estate will pay their fees, so don’t hesitate to use their services. This will lessen your stress level and help you avoid potential legal problems stemming from mistakes you made settling the estate by yourself<br /><br />Questions concerning probate and real estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings. <br /><br /><a href="https://www.estateexec.com/">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marine, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.2021-12-31T12:17:00-07:002022-06-28T10:49:17-07:00David Pannelltag:citiesrealestate.com,2012-09-20:12260Who Determines The Real Estate Value?We offer <a href="https://www.citiesrealestate.com/contact/" title="Contact David Pannell">FREE</a> market reports that include a list of properties that were sold or listed in the last 30 days. This valuable information tells you what properties are being listed and sold for in your area..
The <a href="https://www.citiesrealestate.com/contact/" title="Contact David Pannell">FREE</a> market report will help you make the most informed decision with either selling the home quickly, making recommend repairs to increase the value, or keeping the home as a rental to build your investment portfolio.

We can send you a <a href="https://www.citiesrealestate.com/contact/" title="Contact David Pannell">FREE</a> MARKET REPORT about the neighborhood, the subdivision, and the zip code so you can see what is listed or SOLD around the property.
Sign up for <a href="https://www.citiesrealestate.com/contact/" title="Contact David Pannell">FREE</a> monthly market reports delivered to your email inbox and keep tabs on changes in the real estate market. Call us, text us, or email us for the <a href="https://www.citiesrealestate.com/contact/" title="Contact David Pannell">FREE</a> report.
There is no obligation to work with us. We us, we just want to help you make the best decision.
For more information or to discuss, there’s no cost or obligation. Call 817-797-9047 or go to probateresults.com to schedule a no-risk consultation. We are here to help.<br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />The thing I like about real estate is that there is no recommend price. We use a system/process that helps my clients achieve top market prices for all types of homes. They could be perfect, as is, falling down..it does not matter.
I understand that you may not need the services that I provide to families who are faced with the overwhelming task of settling a loved one’s estate. Understandably, some like you, feel that being contacted very early during this sensitive period is intrusive and ill-timed. I’ll risk the occasional letter condemning me for my actions because, over the past two years of reaching out early, dozens of families have felt the opposite and were appreciative to know there is help available and contacted me for assistance.
I have nothing to be ashamed of, and I can provide references of many families I’ve helped over the years because of my efforts to reach out early to offer my unique services in dealing with the many difficult aspects of probate.
My services typically pick up from where the family attorney stops since the attorney only handles the legal aspect which is typically only 25% of the total process to settle an estate.2021-03-09T07:23:00-07:002022-06-28T12:42:25-07:00David Pannelltag:citiesrealestate.com,2012-09-20:7251How Safe is Selling Your Own Home?Safety First Selling a home
When you decide whether or not to hire a Realtor® to sell your home, the key question you ask yourself is, “How much can I save by selling my home by myself?” In the previous articles in our For Sale By Owner (FSBO) series, we’ve given you advice on how to get your home prepared for sale and how to price it properly. But there’s an important question we’d like you to ask yourself before you decide to go the FSBO route: How much is your life worth?
Safety First
When you sell your home, you open the door to strangers. Even if you are working with a licensed Realtor® there are things you need to do to protect your property. When you are a FSBO, there are some extra steps we recommend to keep you and your family safe.
Store Valuables
There are plusses and minuses to having a safe in your home. You can put all your valuables, guns, medications, papers, etc. in a large safe. But it also announces that you have valuable items there on the premises. If possible, store valuables in a safety deposit box.
Lockup Guns
You should be doing this anyway. We recommend a gun safe placed inside a closet, basement, or back room. The less conspicuous, the better.
Clear the Medicine Cabinet
If you have kids or grandkids, you should already be locking up your medicines. Even non-narcotic drugs can be dangerous in the wrong hands.
Pack Up Your Collections
There are two reasons to pack up your collections of dolls, memorabilia, teacups – whatever it is you fancy. First, you want to declutter your house prior to putting it up for sale. (<a href="https://www.citiesrealestate.com/blog/david-pannells-home-selling-system-part-4/" title="David Pannell Real Estate Broker">David Pannell's Home Selling System</a>) Second, your collection may be so appealing that a few of them go missing. Oh, and you need to pack up anyway, right?
Move Important Papers Offsite
Your papers may be worth more to a crook than your fancy teacups, Grandma’s pearls, or your favorite shotgun. Why? Identity theft. Once someone has your social security number, bank information, and other personal information, they can wipe out your accounts. Or buy something very expensive in your name.
Family Pictures
You know what they say, “Just because you’re paranoid, doesn’t mean they’re not out to get you.” You don’t want folks knowing what your children look like or where they go to school. In fact, you want people to know as little about you as possible. They’re strangers, remember? Also, you need to declutter anyway – and you want a prospective buyer to picture their family in the home.
<br /><br />Security Selling a Home
The Right Lock Box
Most real estate agents have access to a special kind of lock box that tracks who is coming in and out of your home. Some agents will use a regular old lockbox, but we recommend they use what’s called a “Supra key” lockbox. It holds the key to your house and each agent must enter a code that is associated only with them. Another option is to replace your door lock with a “smart” lock.
The Right Doorbell
You should definitely have a Ring or other type of “smart” doorbell. The least expensive Ring doorbell replaces your current one. It’s better than a wireless doorbell because you don’t have to worry about losing power or replacing batteries. It’s wired directly to the house. For a small annual fee, the doorbell can save recordings of people who come to the door when you can’t answer it. The main value is that you can answer the doorbell from anywhere through your smart phone. We recommend you have one of these even if you are not selling your home.
The Right Camera
Consider getting interior cameras. Especially one that points at your safe if you have one. If you’re not technical, you can hire people to install some basic security equipment. You should be able to monitor the cameras from a smart phone.<br /><br />Safety Precautions Selling a Home
Ask for ID
If you are going to show your home to a prospective buyer, if at all possible, don’t show it alone. Have the buyer text or email their license to you before the appointment. Tell them you need to have licenses for any adults that will be joining them. Then, answer your door via your smart doorbell and make sure the person there matches the picture on the license. We recommend forwarding the license and date / time of the appointment to a trusted friend or family member.
Go with Your Gut
There are millions of neurons in your stomach. It is sometimes called your second brain because it acts independently. (https://www.sciencedaily.com/releases/2018/05/180529132122.htm) That “gut feeling” you get sometimes? You know the one you’re often sorry you ignored? If someone comes to your door and it just doesn’t feel right, listen to your gut. Bad people count on your feeling uncomfortable turning them away. You don’t know them – who cares what they think about you. Safety first.
The Agent Advantage
In most states, Realtors® must go through a background check and be fingerprinted. First, make sure your agent is actually licensed. You can do that here: https://www.arello.com/. Also, if a buyer’s agent wants to show your home, ask them to send a picture of their business card. Make sure they are licensed as well. The bottom line is that your agent takes on the responsibility -- and the risks -- of showing your home.
You Just Want My Listing
You’re right. We do want your listing – but that’s because in our experience you will net more money than you will if you don’t use an experienced real estate agent. But we also care about our community. We live here. We want our neighbors to be successful. We want them to be safe. Even if you don’t hire us, please take these precautionary measures.
One last thing: Consider using our Smart Seller listing agreement. We will put your home in front of hundreds of buyers weekly. There’s zero obligation and you can cancel at any time.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.2020-06-23T04:48:00-07:002023-07-31T07:38:33-07:00David Pannelltag:citiesrealestate.com,2012-09-20:7231What You Don’t Know About Marketing Probate Estate Will Hurt YouWhat is Marketing?
Marketing is everything you do to try to get a buyer for your home. It’s not one thing that will sell your home. Yes, you should have a video and a professional set of pictures. You definitely want to get your listing on the Multiple Listing Service (MLS) so that local real estate agents will see it. If it’s a high-priced home (not because you over-priced it), you may want to look at putting it in a local magazine for luxury homes. What does it cost? Time, money, and expertise. It’s not free. Not if you want to do it right.
The Unseen Marketing
Did you know that there is a lot of marketing going on that you don’t see? It’s called networking. It’s the name recognition behind the lawn sign. It’s the list of buyers a successful real estate agent already has. It’s the relationships said real estate agent has with all the other real estate agents in town. It’s the drive to do more than just put your listing on the MLS. It’s the service that tracks who comes to see your home (sorry, you don’t have access to that one). It’s the follow up after a showing or open house to find out if an offer is coming – and if not, why not. Sometimes the home just doesn’t suit the buyer’s need. Or it’s not looking good – or the price is too high. It can hurt your feelings, but you need to know.
Just Tell Me
We can tell you how to market your home. Heck, we will tell you how to market your home. Give Cities Real Estate a call (add link) and someone on our team will sit down with you and share with you everything you need to know to market your home. We want you to help sell your home – even if we don’t make a commission. Why would we do this? Honestly, most FSBOs end up listing with us. There are two main reasons for this: 1. Selling a home is not as easy as it looks. 2. We make it easy to list with us.<br /><br /><br /><br />We can send you a copy to your email with all these helpful guides:
Smart Seller listing Agreement.
Our Coming Soon Bourchure
90 Things You Can't Afford To Neglect When Selling Your Home
151 Steps We Take Care Of For You
Photo Check List
Our Resume
10 Questions To Ask Every Realtor
Our BOOK on achieveing Top Dollar
Why Agents Won’t Bring You a Buyer
The easiest way to explain this is to tell you a story. We know a seller who tried to do a FSBO on their investment property in San Diego. She’s a former Realtor® who was once licensed in both California and Texas. She knows her way around a real estate contract. She was willing to pay the buyer’s agent the same commission any listing agent would offer. She got lots of calls – from agents trying to list her home. There was one agent who offered to put her property on the MLS for a flat fee. Not to market her home or bring her buyer. Likely a ploy to get her to list later.
They Don’t Have a Buyer
Most of the real estate agents who contacted our San Diego seller didn’t have a buyer. Mind you, this was a hot property in a hot market. That’s why this experienced, former Realtor® and Texas resident thought she could go FSBO. For safety reasons (which we’ll cover in another article), she would only allow licensed real estate agents to show the home. But most of the agents who called her didn’t have any buyers.
The Trust Factor
One real estate agent (out of like a dozen), told her the truth. Most agents won’t work with you, he revealed, because they don’t know you – so they can’t trust that they will absolutely get the buyer’s agent commission. She said she would put it in the contract. Didn’t matter.
Protection
When a property is listed with a real estate agent, they use standard contracts that protect their interests. If one real estate agent tries any funny business with another real estate agent, they have recourse. How? Through their local association of Realtors®. That organization can lead to an agent losing their license – their livelihood. You, as a FSBO, just don’t have that power.
So, What Happened?
Our San Diego FSBO listed with a well-known real estate agent with a track record in her neighborhood. The property had two offers in one day. She got her full asking price plus some additional non-monetary bonuses. Who bought it? An investor her Realtor® went way back with. Networking – the unseen marketing – sold her home. It almost always happens that way. We know this because we work with FSBOs all the time. We’ve been doing it successfully for years.
We’re Shameless
We will shamelessly (but ethically) bribe you to list your home with us so we can get you to the closing table. Yes, you read that correctly, not only will we show you how to weed out the less than desirable agents, we will BRIBE you to list with us. How will we do that? Stay tuned for the next article in our FSBO series. Meanwhile, while you’re waiting, give us a call. Or check out our Smart Seller listing agreement. You’ll save time and money. We guarantee it.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.2020-06-16T08:24:00-07:002023-08-01T13:22:09-07:00David Pannelltag:citiesrealestate.com,2012-09-20:721510 Things You Absolutely Must Know About Selling a HouseSelling a home is one of those things in life that sounds easy but is actually a daunting task. Whether you decide to sell your home on your own or hire an experienced Realtor®, you’ll want to implement these 10 strategies to get top dollar for your home.
#1 Neutralize:
You want to make a great first impression from the moment a prospective buyer walks in the door. Strong statements of wallpaper and paint may appeal to a select group, but most will see it as additional work they will have to do before they move in. Use neutral colors so all buyers can envision their own furniture in the home. Remember, first impressions only happen once.
#2 Depersonalize:
The buyer must see the house as their new home. Too many personal family items, pictures, trophies, collections, posters, etc. will hinder this process. A few personal items are fine, but you want buyers to look at each room – not at your things. Pare each room down to the bare essentials. Tip: Take down everything you have pinned on to your refrigerator – including the magnets!
#3 De-clutter:
Take everything off the floor that does not have to be there. More floor space makes the home seem larger. The same goes for countertops. Buyers should be able to easily walk around furniture and look out the windows. Clutter is worse than dirt. Too much stuff makes the house confusing; the buyer's mind gets cluttered. Start packing! You are moving anyway. Attack Odors: People buy homes with all their senses. You may not be able to smell your pet but believe me, others can. Strong food odors also are a turn off. Consider having your carpet and windows professionally cleaned.
#4 Garage Sale:
I have shown hundreds of properties and what buyers are most surprised by is a nice, clean, and orderly garage. It speaks of the care that you take toward the rest of your house. With a bit of effort, you can purge the things you no longer use or need. It is best to pack up as much as possible and put it in a storage facility. If you must use your garage, neatly stack boxes in one corner as far from the entry as possible. (You want buyers to easily walk into the garage and look around.)
#5 Clear and Minimize:
The eye naturally scans a room from left to right. Clear off horizontal surfaces such as tables and shelves. Take things off of your kitchen and bathroom counters. This makes your home more visibly pleasing to a prospective buyer. The bonus is that you get a jump on packing.
#5 Mentally Prepare:
Having your home on the market is never convenient. You have to mentally prepare yourself to adjust your schedule to show your home. You must be ready to keep your home neat and clean at all times. You have to brace yourself for negotiation – it is unlikely that you are going to receive a full-price offer. In fact, according to the National Association of Realtors (NAR) the typical FSBO home sells for $200,000 as compared to $265,000 for a home listed by an agent. There are many reasons for this which we will cover in our FSBO series.
#6 Be Flexible:
Every buyer opportunity is critically important. As much as possible, you must show your home when it’s convenient to a prospective buyer. You don’t want to leave a prospect waiting. Leaving work on a moment's notice may be necessary to land the buyer--so be ready. Just because someone won’t wait to see your home doesn’t mean they weren’t a serious buyer. Often when someone decides to buy a home, they are ready to go and will move on to the next one on their list if you make seeing your home a hassle.
#7 Don’t Show Your Cards:
As an agent, my job is to keep the buyer and seller apart. I ask my clients to not be home when the house is being shown. Of course, this is not possible as a FSBO. Make sure you don’t let on why you’re selling your home. It can give a prospective buyer insight into whether you need to sell or want to sell. If a buyer knows, for example, that you’re going through a divorce, it can affect your bottom line.<br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.<br /><br />Why Hire Us?
We help FAMILIES GOING THROUGH PROBATE with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assist the executors in finding the right estate sell companies in the area, help with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the PROBATED Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in HELPING Personal Representatives get to their desired outcome FASTER, SMOOTHER, and with MUCH LESS STRESS! We have built an entire team and service hub around the probate process, that will allow YOU to focus on YOUR busy life and not worry about all the details.
Let US help you gain COMPLETE control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition.<br /><br />Ask for Help:
Fact is, selling your own home is not for everybody. There’s no shame in asking for help. Here at Cities Real Estate we’ve helped hundreds of home sellers obtain top dollar. Some paid our team a commission, others did not. We are happy to be your resource. Why? Because everybody needs a great real estate strategist. Consider using our Smart Seller listing agreement.. We will put your home in front of hundreds of buyers weekly. There’s zero obligation and you can cancel at any time.
Using these 10 strategies will greatly increase your chances of getting top dollar for your home. Feel free to contact <a href="https://www.citiesrealestate.com/contact/" title="contact cities real estate">Cities Real Estate</a> with any questions you may have about selling your home. We have a lot more information to share with you – be sure to read the next article in our FSBO series. (Link to next article…)2020-06-10T04:06:00-07:002022-06-29T09:08:42-07:00David Pannelltag:citiesrealestate.com,2012-09-20:7133Winning the Real Estate SuperbowlEvery Game Has A Strategy
In tic tac toe, experience teaches you not to go to the center square for your initial move. Experts will tell you that the worst first move in chess is f-3, because it leaves your king vulnerable right off the bat. In 1940, before the era of the Super Bowl, there was a national championship football game between the Washington Redskins and the Chicago Bears. The final score was a total blowout, 73-0, and that win was attributed to one single strategic change, namely the T formation, which left defenders guessing who would have the ball after the snap. No matter what the game, a careful, planned strategy is imperative to success.
The Real Estate Game Is No Different
When selling your home, it is important not to sabotage your chances for success at the onset. Very few people enter into the arena of selling a home with a cavalier attitude. Rarely do you hear, “Oh, if it sells, fine, if not, that’s okay too.” Whether you have a growing family and are ready to upgrade or you are settling an estate, fast and easy is always preferable to slow and agonizing.
Obvious Approaches
Some of the more obvious approaches to the quick and painless sale are fundamental. Completing repairs, staging, accurate analysis for pricing and advertising blitzes are all among the standard operating procedures. No brainers. But is there another trick to this selling game? Has technology and pop culture redefined home marketing at all? If so, by all means, let’s use every trick in the book! Leave no stone unturned. There is a new wrinkle- a fresh ingredient you can add to this mix that can boost your success rate.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.<br /><br />Days on the Market
Research indicates that the number behind the “Days on the Market” spot in the MLS can be a deal breaker for many buyers. Homes that give the impression of being stagnant, not new listings, slow movers, not hot off the press (choose your term) are huge turnoffs for prospective buyers. Given a choice between equivalent houses, one on the market for 19 days and the other 35, the 19-day house always has greater appeal. It is no different than lining up at the door at 5 a.m. on Black Friday as opposed to waiting till Saturday afternoon to shop. It is all about perception. Everyone assumes the best deals are gone. The merchandise is picked over. As a seller, the best way to buy into this psychological bias is to delay listing on the MLS as long as is legally possible.
Regulations
Different jurisdictions have varying regulations regarding when the broker is required to add your listing to the MLS, so you are constrained within those individual guidelines. “BUT”, you may ask, “how will I reach potential buyers? How is anyone going to know about my listing?” I’m so glad you asked. The reality is that progressive brokers have already laid the groundwork for you. They have started selling your house before you even thought about listing it by establishing a social media following.
New Approach
This new approach delays the MLS reveal and blasts your listing on platforms like Facebook and YouTube first. There are several benefits to this technique. First and foremost, it delays the ticking time bomb of “days on the market”. Preventing the stigma of the unsellable listing, and the nagging doubt of “what’s wrong with that house” is vital to selling success. Once your home has that brand on it, reversal proves difficult. Secondly, the social media blitz goes to a targeted audience.
Let’s Face It
Nobody is following realtors on Facebook, YouTube and Twitter unless they are 1.) someone looking to buy or 2.) an agent trolling and stalking other agents to get a scoop, or keeping up with their competition. It’s a great way for realtors to get the skinny on a hot listing before it goes public. Think “insider trading” without any criminal or legal repercussions. If the agent can deliver a great home to their client before it even hits the MLS, everyone scores. And buyers love a good sneak peek, especially when they are bleary eyed from reading stale MLS offerings for weeks without finding a perfect fit.
Another Advantage
Is that it provides you with two opportunities to reveal your listing. The preview on social media, and then the “New Listing” popping up days later on the MLS system. Twice the splash for your money. Double the bang for your buck. There is really not a down side to this strategy. Players in the real estate game know where to snoop around for these pre-MLS gems, and believe me, they are snooping. If an agent is on their game, they scout social media as well as the MLS for their clients looking to buy. If your realtor isn’t, maybe you need a new realtor. Times change, technology advances and dynamic popular culture is constantly morphing. It is essential that we improve our strategies accordingly to attain success.
Rely On A Expert
Today’s highly competitive market demands that your realtor use every trick in the book. Whether you are buying or selling, your agent must be a skilled player with a winning strategy.
Cities Real Estate Broker David Pannell has been helping families with their real estate needs for over fifteen years. Specializing in Tarrant county’s most desirable neighborhoods, David is a former United States Marine and City of Arlington police officer. He is a realtor you can trust to help you find your treasure in Timarron or help you sell your home as you begin the next chapter in life. Contact David today at (817) 797-9047.2020-05-14T04:28:00-07:002023-08-01T14:44:48-07:00David Pannelltag:citiesrealestate.com,2012-09-20:6853How to Prepare Your Home to Sell For MoreHow do you prepare your home to sell for more money? Here are a few tips to help you do this:
1. Brighter. For the photos you use to market your home online, we need as much light to illuminate the property as possible. Try removing all your window screens and blinds, cleaning the windows, and replacing all the lightbulbs in the house with daylight bulbs.
2. Lighter. One of the best things you can do to prepare your home for the market is to get rid of any dark furniture and paint schemes. If your home incorporates a lot of dark colors inside, consider repainting those areas with a light, neutral palette.
3. Clean. Though many people like to ask their family and friends to help them deep clean their house before they sell it, I recommend that you just hire a professional cleaning crew to come to do a sweep of your entire home. If you do this before you take your listing photos, they’ll shine all the brighter. The average cost of a professional cleaning service is around $150 per 1,000 square feet, so a 4,000 square-foot home would cost $600 to clean—this is the best money you could spend when preparing your home for the market.
"If your home incorporates a lot of dark colors inside, consider repainting."
Next time, I’ll discuss how to correctly price your for-sale home after you’ve implemented these principles and how pricing impacts both buyers and sellers. If you have any questions in the meantime, don’t hesitate to reach out to me. I’d be happy to hear from you.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.2020-03-10T11:58:00-07:002023-08-01T09:17:13-07:00David Pannelltag:citiesrealestate.com,2012-09-20:6809Repairing Your Home Before You SellMaking Repairs to Your Home Before You Sell
Today’s topic is all about making repairs to your home before you sell. Check major components of the house such as the foundation and roof before you make repairs on cosmetic items. You need to ensure you have the money to fix the most crucial things first.
Often when I walk into seller’s homes, I see that they’re making unnecessary repairs. Or, they’re spending money on things they would want in a house but buyers may not need or want. To be honest, I did the same thing. When I first began remodeling properties, I spent $4,000 on custom cabinetry in a home that wasn’t very highly valued. I thought I had good design taste. Of course, that’s not what the buyers of that type of house needed. Make sure you’re making repairs that increase the value of the property.
When you’re looking to hire a contractor, you should be interviewing three or four. When discussing the project, I doubt they’ll tell you it’s unneeded—they’ll simply submit a bid for the job. Ask the contractors you’re looking into what materials they’ll use and how long it will take; that way you can compare prices and work hours.
"Make sure you’re making repairs that increase the value of the property."
Get the advice of a real estate agent or remodeling expert with experience before you do any work. Don’t trust your best friend or sibling’s input about these things unless they’re an expert. The worst advice you can take is trusted, bad advice.
If you have further questions about making repairs or real estate in general, please reach out via phone or email. We would love to help you. Also, if you have questions we can answer in upcoming blog posts, contact us, and we may do just that.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David</a> today at (817) 797-9047.2020-02-24T13:42:00-07:002023-07-31T08:20:31-07:00David Pannelltag:citiesrealestate.com,2012-09-20:67555 Tips to Prepare Your Home For SaleHow do you prepare your home for the market so you maximize its value and sell quickly and hassle-free? Remember these five tips:
1. Be realistic. Look at the data, see what other neighborhood homes are selling for, and compare those homes to your home’s condition. Your home has an as-is value that investors or other buyers looking for a good deal will buy it for, but if you plan to do some work on the property, you need to determine its after-repair value (ARV). Your Realtor will help you with this—we’ll make recommendations that will maximize your return without requiring too much money into a home you’ll soon be leaving.
2. Ensure your Realtor makes the home marketable. For example, in our Coming Soon listing process, we change all the light bulbs in a house to daylight bulbs so it brightens the property and does away with that dull yellow look. Setting out fresh flowers, cookies, or anything else that makes the home smell good is a great idea too.
3. Be prepared for the inspection. Every buyer who makes an offer on the property will hire their own inspector, so get your home’s foundation inspected (the plumbing, electrical system, AC unit, etc.) and pre-certified first and make sure there are no surprises once you’re under contract for the price you want.
"Setting out fresh flowers, cookies, or anything else that makes the home smell good is a great idea."
4. Use online resources to engage with multiple contractors. This is a tip I use whenever I remodel my home. If I need a plumber or electrician to do some work on it, I invite three or four of them to bid for the job at the same time in each other’s online presence—whether the platform is Nextdoor, Facebook, etc. When I market someone’s property, I want buyers to be on top of each other bidding for it, and the same strategy applies to contractors.
5. Get out of your own way. Don’t make improvements that are only comfortable to you or ones that you alone think would help the home sell for more money. Make improvements that will make the home more comfortable for buyers. Today’s buyers have to pay a down payment and closing costs during the closing period, so they don’t want to have to fix anything before they can even move into the home.
If you’d like more tips to help sell your home quickly and for top dollar or have any other real estate questions, don’t hesitate to reach out to me. I’d love to help you.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.2020-02-10T07:45:00-07:002023-08-22T08:54:36-07:00David Pannelltag:citiesrealestate.com,2012-09-20:6193The Steps You Must Take to Sell Your Home in Probate EstatesIf you’re thinking about seling a home, there are several steps you must take if you want to sell your home quickly and for top dollar.
First, analyze the current market you’re experiencing right now, meaning what’s happening in your neighborhood. Don’t listen to what your friends or the media are saying—listen to the market. You might be in a seller’s market, a buyer’s market, or a balanced market.
Next, perform all necessary inspections on the home and make sure all the systems (AC unit, water heater, etc.) are clean and in working order.
"Your home doesn’t need to have green grass to sell during the fall, but you should remove any dead trees or bushes."
After that, get your house ready for showings. Have some fun with the holiday season. Be tactful, but don’t overdo it, because buyers will still need to be able to see the home’s space. Now’s a great time to set out some scented candles, and make sure everything is well-lit now that the days are getting shorter.
Also, make sure the exterior of the home is clean, and don’t forget about clearing out your gutters. Your home doesn’t need to have green grass to sell during the fall, but you should remove any dead trees or bushes.
If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.2019-09-24T08:01:00-07:002023-08-22T09:06:37-07:00David Pannelltag:citiesrealestate.com,2012-09-20:3768How To Price Your Home In Fort Worth Texas MarketHow To Price Your Home In Fort Worth Texas Market
One of the greatest obstacles to selling a home on your own… and one of the most common mistakes that many “For Sale By Owner’s” make… is in pricing the home for sale. It's only natural and common sense that many homeowners have grown attached to their home because of the years of service, work and sweat equity they have put into the home. All the memories and emotional attachments that have gone into the home over the years sometimes cloud the process of pricing a home for sale. So, what typically happens is that many “For Sale By Owners” overprice their homes – thus the reason that over 90% of them eventually fail and list with an agent.<br /><br />Another convenient source to determine your sales price is to contact your local title or company. Many people don't realize that title companies have the same information the real estate agents do. Plus, they are often more direct and honest with you… because they don’t want to list your home. Many title companies around the country will provide this information for free in order to get your business when you do sell… others may charge a nominal fee that’s probably not worth mentioning here.
Remember, establishing a price of your home involves a little guesswork… so don’t be discouraged if some of the information you get from the paper, the agents and the title companies contradict each other a bit. You’ll have to “weed” through the piles of information you get to determine the most probable asking and sales price.
There is one other option. If you really want to be sure about the fair market value of your home before you try to sell it may want to consider having it professionally appraised. Appraisers are estimators of the official value of properties around country, their used by lenders to determine the terms of real estate loans. Appraisers will use objective business-like techniques to derive a reliable estimate a price. If you do hire an appraiser you can expect to spend somewhere between $300-$500 per professional appraisal. Once you have your research done… you must answer a few more questions to finalize a legitimate sales price. These questions help you determine your motivation factor – which will ultimately set the final price for your home.
Are you being transferred? Do you have immediate financial needs? Are you in a rush to sell your home or do you have all the time in the world? What is the employment rate in your area? How are the interest rates? High or low? What time of year is it?
Taking a look at these common sense questions will help you further determine your ability to be a successful “For Sale By Owner.” The next step in the process is going to be to market your home effectively to the buyers out there… and how to grab their attention with the right type of marketing approach.<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.<br /><br />Research is essential in pricing your home for sale. Simply start the process by picking up the Sunday newspaper and turning to the “Real Estate Section. ”Your goal here is to look for other homes advertising in your area for sale that are closest in terms of style, square footage, year built and characteristics to your own. Include in your search, the number of bathrooms, acreage, bedrooms, garage spaces and location if possible. It won't take you to too long to determine what ballpark your asking price should be in. One other note related to researching like-homes in the paper - don't be afraid to call the ads and talk to the owner or real estate agent about the details of the home.
This will help you to narrow down the range even further to a realistic price. When you do call, ask for more details about the home… for example: does it have hardwood floors? Has it been recently painted? Does it have a new roof? Are they any important updates? Does it have a pool or hot tub? The second place you should get an opinion of value from directly is with 2-3 real estate agents who consistently work your area. Call at least two local real estate agents for their input. When you do this be as “stupid” and as “naïve” as you possibly can… this will allow you to ask an endless number of questions to get all the information you need to make a sound decision on pricing your home.A real estate agent should also be able to tell you more about the current conditions of the marketplace… such as where buyers are coming from (internet, newspaper, relocation or other).
There's no obligation to a real estate agent to conduct a “Market Analysis” for you… but it is a good policy to be direct and honest with him or her about your situation and that you are planning on trying to sell your home yourself. Most real estate agents will be glad to conduct a FREE “Market Analysis” for you even if you tell them that you plan to go “For Sale By Owner”. This is because the odds are that you will eventually list are still in their favor… but they don’t know you have this manual.
A word of caution! A word of caution, make sure the agents you contact for your “Market Analysis” used homes that have actually sold in your area.This is an important distinction. The difference between asking prices and selling prices usually are substantial, which means, you want a “Market Analysis” from homes like yours that have actually sold… not from homes that are still currently on the market and unable to sell. Remember also that real estate agents often tend to overestimate homes value as an enticement for you to list your home with them. Remind yourself of this often and remember what your ultimate goal is: To save the real estate commission and do this yourself… so don’t get over excited or have unrealistic expectations based on a “Market Analysis” from any real estate agent you talk to. If you take a more conservative approach to pricing your home (especially because you are a “For Sale By Owner” – and all buyers know this) you’ll have a much better chance to sell your home inside of 30 days.<br /><br />This step deals with how to avoid overpricing your home… and at the same time… how to get every penny out of your home that you possibly can. Now, undoubtedly you have an idea what your home is valued at… maybe you've gotten some information out of the mail from the local real estate agent who is concentrating on your area… or maybe you've looked in the newspaper… or maybe you picked up a flyer from a house up the street for sale in your area right now. Whatever the case maybe, the first thing you need to do when determining price is to get at least three other opinions (and then compare those to what you have in the back of your mind).2018-02-28T08:07:00-07:002023-08-22T09:29:11-07:00David Pannelltag:citiesrealestate.com,2012-09-20:3777Be Neat & Clean - Everywhere! Presentation Does Matter.This is the most important all the basic preparations. Rooms, closets and cupboards need to be orderly and uncluttered in appearance – to make your home and storage look as large as possible. Being cluttered can make large homes seem very small… and too much clutter is one of the biggest mistakes many “Sellers” make.
The solution to the clutter is to simply get rid of it. Everything that you don't use on a regular basis (which means every other day at least)… put in storage or out of plain sight. Kitchens are especially problem areas. Go through each of your cabinets in your kitchen, all of the counter space, and all of the cupboards to make sure all are clean and neat of “unnecessary stuff.”<br /><br />Sellers Checklist Inexpensive – but prudent – when getting your home ready for sale:
Make sure that the front of your home is spotless all the way up to the front door.
Make sure that all of your walls and outside exterior are washed down.
Keep the window coverings open and the lights on at all times during showings.
Wash all visible features… like your windows, fireplaces, countertops and your tables before anybody sees your home.
Repair any leaky faucets in the bathrooms and kitchen.
Keep your pets out of the way.
Fix any faulty appliances.
Caulk any windows that leak.
Smooth over any foundation cracks in the sidewalk, patios, driveway, or anywhere else.
If your roof leaks or is visibly damaged by a recent hail storm (or because of old age) it may be a good idea to call your insurance agent right now - because this will be a problem during the inspection.
Outdoor lighting. If you’re going to be showing your home at night - outdoor lighting is going to be crucially important.
Remove dead trees and shrubs. It's not a bad investment, especially in the front yard, to add new trees and shrubs or replace the old dead branches.
Keep your flowers blooming. The cost of replacing flowers is usually minor in comparison to the perceived value it gives your home – consider this strongly.
Make sure the doorbell works. Nothing is more apparent and noticeable than a doorbell that does not work. It gets your home off to a bad showing right away.
Have your mailbox repaired if necessary.
Fix any squeaky hinges on doors.
Use fresh towels in the bathroom.
Eliminate all pet odors.
Use potpourri types of smells throughout the house.
Clean out the bathroom medicine chest.
To try to get up the oil stains on your driveway or in your garage.
Paint, paint, paint. Nothing stands out more.
Clean the down spouts and gutters.
Stain wood decks if necessary.
Make sure all stair railings are secure.
Trim all the edges and hedges of your yard.
Secure the fence and fence line.
Professionally clean all the carpets in your house. Again, this is inexpensive – but very profitable to your bottom-line.
Wax all appropriate floors.
Clean the curtains and window coverings.
Make sure any wallpaper is secure to the walls.
Straighten all pictures and mantel decorations.
Never have dirty dishes in the sink.
Gather the operating manuals and warranties for all major appliances.
Replace any loose or broken tiles in the bathrooms.
Replace shower curtain with a new, clean, bright and fresh one.
Make all beds – this seems obvious but it’s amazing how many I’ve shown with the beds not made and the rooms a mess.
Keep all stairways uncluttered.
Have the furnace cleaned and inspected if you haven’t done it in over a year. This always comes up during the inspection anyway.
If your garage or basement is jam-packed full of “stuff” – rent a storage facility and move all the “stuff” to it immediately.
If you have an automatic garage door opener – makes sure it works.
All of the items on this short checklist are easy and inexpensive to perform – but make sure that you go through each before a showing or an open house.<br /><br />What you want to remember is that each buyer is a new person… and each buyer will have a new and different opinion of your home. You know the old saying, “You never get a second chance to make a first impression.”<br /><br />Questions Concerning Probate and Real Estate?
Serving as an executor can be all-consuming. Certain aspects of settling an estate require significant time and effort, like handling an estate’s real estate holdings.
<a href="https://www.estateexec.com/" title="Estate Exec Probate FREE Software">EstateExec</a> is an online service that helps estate executors perform their duties. Every year, more than 3M people die in the US and Canada, and by law their estates must be settled, with this responsibility often falling to a family member. Although the primary user of EstateExec is the estate executor, it's also common for the original estate owner to purchase a license in advance of his or her death, to make the executor's job easier.
If you have questions concerning probate and real estate in <a href="https://www.tarrantcounty.com/en/probate-courts.html" title="Tarrant County Probate Courts">Tarrant</a>, <a href="https://www.parkercountytx.com/363/County-Probate-Court" title="Parker County Probate Courts">Parker</a>, <a href="https://www.co.wise.tx.us/164/Probate-Guardianship" title="wise coutny texas probate courts">Wise</a>, <a href="https://www.collincountytx.gov/probate/Pages/default.aspx" title="Collin County Probate Courts">Collin</a>, <a href="https://www.dentoncounty.gov/1143/Probate-Court-No-1" title="denton county probate courts">Denton</a>, or <a href="https://www.dallascounty.org/government/courts/probate/" title="Dallas County Probate Courts">Dallas County</a>, contact David Pannell and Cities Real Estate. David has extensive experience helping families with their real estate needs before, during, and after the probate process.
David has been an agent/realtor since 2005. He has served as a United States Marines, City of Arlington police officer, and is a dedicated family man. You can trust him to put your interests first in any and all situations.
Call David today at (817) 797-9047 for help with your real estate and probate needs. You will be treated respectfully, and your requirements will be met efficiently and confidentially.
<br /><br />Why Hire Cities Real Estate & David Pannell
We help Families going through Probate with all the tasks that the attorneys don’t do. We find that most people need help with cleaning out the houses, assisting the executors in finding the right estate sale companies in the area, and helping with donating personal property the family doesn’t want. We even educate you with small recommendations that will improve the property to get a better price; because so many investors are trying to buy estate properties for 40-50% of their value. Some of our best clients have come from the Probate Estates. with understanding the family’s goals then offering you some options to choose from.
We have expertise in Helping Personal Representatives get to their desired outcome faster, smoother, and with much less stress! We have built an entire team and service hub around the probate process, that will allow You to focus on YOUR busy life and not worry about all the details.
Let us help you gain complete control of the probate process. Working with the Probate Services team will reduce the stress of dealing with this major g this life transition
Rely On A Probate Estate Expert
<a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Cities Real Estate</a> agent David Pannell has been helping families with their real estate needs for over fifteen years. David is a former United States Marine and City of Arlington police officer. <a href="https://www.citiesrealestate.com/contact/" title="Cities Real Estate" target="_blank">Contact David Pannell</a> today at (817) 797-9047.<br /><br />In the bedroom take out any unnecessary clothes and shoes from the closet. If you’re like most people, you probable have a large assortment of clothes and shoes to choose from but really only wear maybe 25% of the entire stock. Take a close look to determine what can go. The best way to see if your house is cluttered or messy is to find an objective, non-discriminating person to go through each square foot of your home and inspect it. This maybe a neighbor, a friend or even a relative… it doesn’t matter as long as that person can be brutally honest with you if need be.
The cosmetic features should also be clean and neat… these are the walls, the windows, the fireplaces, the woodwork, the patios, the front porch, the front door, etc…Be sure that all household lighting works inside and out… and make darn sure that your home is well lit when showing it to potential buyers. It's wise to pay special attention to the bathrooms in your homes. Eliminate all the mold and mildew and shower residue in your bathrooms. Make the glass and mirrors look as new as possible… and double check the caulking around the toilet and the tub.
In the backyard make sure that you have flower beds that are bright, beautiful and free of debris. All the hedges, trees and shrubs should be trimmed. It’s a good idea to plant colorful flowers and have planted pots right around the front door (because this is the first thing that they see). These are the basic and most important things to take care of in order to maximize your homes marketability.
However, some people go overboard in the hope that some of their home improvements will sweep buyers off their feet. Be very careful not to do this. The truth is that statistically, most structural home improvements such as an added bedroom or added garage space or a new bathroom or a swimming pool or a built in workshop don't usually pay for themselves in terms of the value they add to the sales price of the home.
They are usually just bonuses for the enjoyment of the buyer. This means that the basement that cost you $25,000… does not usually add $25,000 onto the final sales price. The swimming pool that cost you $12,500 last summer… does not bring in extra $12,500.
But what it will do is give you a quicker sale… because it is a bonus and it adds enjoyment for the buyer. The addition of new rooms is even less feasible from a fiscal recovery standpoint. A better plan is to make the most of your home as you have it right now… and that means taking care of some of the basics – as I’ve mentioned before.2017-12-06T12:06:00-07:002023-08-22T10:09:56-07:00David Pannell