Bay Area Estate And Tax Planning Law Firm

Handling mortgage issues during probate

On Behalf of | Aug 23, 2022 | Blog, Probate And Estate Administration |

There are a great many estate administration issues that can come up during the initial exam in California. These are issues that can result in a tedious and costly process of probate. One of them can be your failure to resolve issues such as mortgage payments, condo fees, lines of credit, and others. If this is the case, it can result in a web of debts.

Probate involves the handling of certain issues

Estate administration and probate issues can be an incredible hassle that you need to do everything in your power to avoid or shorten. Probate basically consists of paying off of all of your final bills and then transferring your property to your beneficiaries. These are the people that you have listed as the recipients of all of the items that make up your estate.

There are two main categories of liabilities that you will be forced to deal with during the process of probate. These will be ongoing liabilities that can continue in the form of routine administrative costs. There can also be liabilities that you can expect to pay off at the end of the process. These will include your final bills.

You can make your probate process much easier

You can make your inevitable probate process easier when you avoid making certain errors as you update your final estate plan. One of the first things you should do is to make sure that as many as possible of your outstanding bills are paid off in advance.

Certain issues, such as your continuing mortgage fees, should be sorted out before you sign off on your final will or estate plan. Otherwise, the people that you name as beneficiaries can receive certain assets in a compromised condition. It’s better to settle these issues in advance.