henever a person dies the decedent as expressed through
and leaves behind debt that person’s testamentary will
creditors, the and the laws of that
administrator or executor of that jurisdiction. This process is
person’s estate faces certain known as the administration of a
challenges in quickly selling decedent's estate, and it can
real and personal property in cause great difficulties to even
order to satisfy creditors. The the most experienced executor.
probate process is long and drawn Once the person dies, the
out, and every shortcut available executor or administrator must
should be sought in order to first make an accounting to the
shorten the amount of time that Probate Court to determine the
property is tied up in the value of decedent’s estate.
process. Recently, with the great Second, they must seek to pay any
success of E-bay, people have taxes or debts owed. Only after
discovered a quick and efficient the debts and taxes are paid, do
way to unload property in order the decedent’s heirs or
to satisfy debts. Not only has beneficiaries get any of the
E-bay made the general premise of probate property. As the probate
auctioning easier, it has also process can often take more than
made it more understandable and a year, using E-bay, or other
desirable to the masses. comparable online services can
assist in satisfying the
It is the jurisdiction’s Probate creditors and debts owed by the
Court's responsibility to ensure estate. However, it should be
all probate assets are collected, pointed out that under
maintained, and distributed among Massachusetts law, creditors do
the decedent's heirs, have one-year to make any claims
beneficiaries, and/or creditors against the estate.
in accordance with the will of
Even a quick browse through E-bay determining priority of payment.
listed properties presents many The true value of sites such as
real properties for sale which E-bay lies in their ability to
are currently in probate. allow the seller to achieve the
Utilizing E-bay and other online greatest amount for the property
auction tools can allow a person as possible. While only hundreds
to achieve the greatest value for might attend an auction in
the estate, since auctions can be person, E-bay allows thousands of
held across the country, creating people to participate in the
a true marketplace for the auction, all the while driving
decedent’s property. Online the price up and leaving more
auction sites allow for the money to the estate.
administrator or executor to
realize a more accurate value for The valuable advocate must have a
what is being sold. This tool can clear understanding of the best
actually demonstrate that the ways in which to assist their
executor has fulfilled his or her clients or their client’s estate
fiduciary duties. However, when in obtaining the best value for
selling real probate property any property in probate.
over an online auction site, the Utilizing newer technologies in
administrator of the estate order to gain value or speed the
should first seek court approval. hassles of probate can create
While auctioning off real substantial good will in the eyes
property from a probate estate of the client or their estate.
will help move the process along, The role of the effective
it might not have a substantial attorney is to reduce problems
effect on the overall speed of and headaches and to make life
the probate process itself, easier for clients. If an
though it can be of assistance in attorney can also reduce costs,
clearing up creditors and increase value and speed along
the probate process, he or she executors of estates in
just might have found lifelong fulfilling their fiduciary duties
clients. Additionally, having a of successfully executing the
clear understanding of available intent of the decedent.
technologies can help to assist
About the Author:
This article was drafted by Nicholas Delaunt for the Law Firm of Goldstein and Clegg, LLC. This article is not intended as legal advice in any way, and if you wish to liquidate an estate through eBay, you should contact an Estate Planning or Probate law
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