Why You Need a Will With Real Estate Ownership

Why You Need a Will With Real Estate Ownership

What happens to real estate if you die without a will?"

Here's the thing most people don't realize: it's not just about the problems you might face. It's about the problems you leave behind for the people who have to sort out your affairs after you're gone. And this is especially true when real estate is involved.

If you own real estate and you have a will, that will typically include what's called a power of sale  language authorizing your executor to sell your property. With that in place, transferring real estate to a buyer is a relatively smooth, straightforward process.

Without a will, there's no power of sale. That means your executor has to go to probate court and obtain something called a license to sell. They have to get every heir to agree on the sale price, file a formal petition, submit a stack of paperwork, and wait for a judge to sign off on the transaction. It's a significant amount of extra time, cost, and stress all falling on the people you care about.

So if you own any real estate at all, having a will isn't just important for you — it's one of the most considerate things you can do for the people who'll be handling your estate. Give them the power of sale, and spare them from probate court.

I hope that's helpful. If you have questions or you're ready to get a will in place, feel free to reach out to our office.

Thanks for watching — have a great day.