[WSBAPT] Probate Requirement?

Thu Jul 15 13:43:57 PDT 2021

These are great points, but in the current hot real estate market, there is also an argument to be made in favor of listing the property and seeing what offers come in.  I have had a couple of recent probates where we did this and received substantially more for the property than the offer from an heir/friend/neighbor and more than the appraised price at date of death.  In one case with high end water front property, we felt that we had to list it and see what offers we received to know what the property was really worth in the current market.  The heir made an offer below the listing price and we received several other offers at or above the listing price.

Amy Lewis, Attorney
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Andrekita Silva
Sent: Wednesday, July 14, 2021 6:31 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Probate Requirement?

Law Office of
F.ANDREKITA SILVA …
_________________________________________________________________

July 14, 2021

Paul,

I would encourage the PR to try to set aside personal feelings had about this heir.  I assume that heir isn’t asking the estate to extend a loan, but rather that heir would go out and get a bank loan just like any other purchaser might do.

As a practical matter, a lot of people can’t afford to buy homes in this market. If the home were appraised, as Dalynne suggested, heir could pay a little less than the appraised value, but the estate would still avoid paying realtor’s costs- so a great net profit to the estate. Both estate and heir win.
This is a common compromise in family matters when one spouse wants to buy out another’s interest in community property upon divorce.

Will other beneficiaries learn that they could have received greater net proceeds from this sale if PR could have brought hims/herself to put aside personal differences?  The PR does have an obligation to act in the best interest of the estate.

More importantly, this creates goodwill. If the PR turns down heir and sells on the open market, the great likelihood is that there will precipitate a family feud that will run generations.

I believe that a part of our job is to encourage our clients to exercise the powers given to them in a just manner.  Have them consider the pros and the cons of not selling to the heir. One pro is that PR avoid dealing with heir who is a pain.  What are the other benefits of selling on the open market to a neutral buyer? Is there more than PR hasn't shared with you?   What are the hazards?

If you have this conversation with the PR, and the PR is okay about the possible negative consequences, then you’ve done your job.  But, if you don’t have this conversation, it’s a lost opportunity.

andrekita
Law Office of F. Andrekita Silva
1325 Fourth Avenue, Suite 2000
Seattle, Washington 98101
206-224-8288
www.seattle-silvalaw.com<http://www.seattle-silvalaw.com>

Quoting Dalynne Singleton <dalynne at glgmail.com<mailto:dalynne at glgmail.com>>:
Why not list the home for sale and let the heir, if they are serious, make an offer on the home?

The only issue I can see if I were this other heir’s attorney would be that they shouldn’t have to pay realtor fees.

So, in order to quash that, tell the heir to send over the P&S to the PR directly and it will be considered along with any other offers made on the property.

That way, the realtor is not paid a fee on the sale to the heir and when hiring the realtor, that should be clear in the contract.

Dalynne Singleton

Gourley Law Group

Snohomish Escrow

The Exchange Connection

1002 10th Street / PO Box 1091

Snohomish, WA 98291

360.568.5065

360.568.8092  fax

dalynne at glgmail.com<mailto:dalynne at glgmail.com>

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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Paul Neumiller
Sent: Wednesday, July 14, 2021 4:22 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Probate Requirement?

Listmates, my client is the PR/heir with nonintervention powers.  Another heir is attempting to force a purchase of real property from the estate.  It'll create a problem with logistics because the beneficiary would need a loan and PR doesn't want to deal (literally) with the other heir.  So, the question is:  Does the PR have the power and authority to list the real property with a realtor and ignore the heir?  It is likely that the real property would need to be sold to pay for the costs of administration of the estate (it’s a sole asset estate).  I’m thinking that because the PR has sole authority to deal with the intestate assets, the PR has the right and power to sell the property to a third party without liability to the other heir.

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