Estate Appraisals 101: Your Crash Course in Navigating Probate and Valuations
Hello, Conroe homeowners! Today, we’re diving into the world of estate appraisals . If you’re new to estates, probate, and all the terminology that comes with it, don’t worry—you’re in the right place. Let’s break it down in an easy, fun, and informative way. What is an Estate? An estate includes everything a person owns at the time of their death—real estate, personal property, cash, investments, and other assets. Managing an estate involves distributing these assets according to the deceased’s will or, if there isn’t one, according to state laws. Understanding Probate Probate is the legal process of administering the estate of a deceased person. This process includes validating the will (if one exists), inventorying the deceased’s property, paying debts and taxes, and distributing the remaining assets to heirs. Probate ensures the legal transfer of ownership and clear title to beneficiaries. The Role of an Appraiser in Estate Management An appraiser plays a crucial role in the probat...