The administration of an estate can often be an overwhelming task for an administrator or executor. The fiduciary is often consumed with the practical effects of dealing with a death in the family—funeral arrangements, family obligations, etc.—in addition to having their own personal and professional obligations. The legal process is generally foreign to the fiduciary and simply getting their arms around the process can be difficult.
This is an area in which Price Auctions & Estates can significantly simplify the fiduciary’s to-do list. The high volume of real estate that we auction, our extensive experience with personal property, and over 35 years combined in business combine to make us a powerful resource to help navigate the probate process. By way of example, we can look at a recent estate with which we worked.
The estate itself consisted of household goods with some collectibles, a large firearms collection, a home in an older neighborhood in Sanford with commercial redevelopment potential, and farm ground in rural Lee County. The fiduciary—an adult child of the decedent—was a business professional who resided out of state. The contents of the home did not warrant a traditional, onsite personal property auction, but we were able to advise the fiduciary to perform an estate tag sale to market and sell a portion of the contents. Price Auctions & Estates facilitated an online-only auction through our bidding platform for the items with the most marketability. The residence, on the other hand, was a great fit for an onsite real estate auction. Values were strong across the board and, perhaps equally as important, the entire process was simplified for the fiduciary.
The family is in the decision making process as to the farm ground. But we prepared a broker’s opinion of value for the farm ground to assist the fiduciary in evaluating the asset and to provide to the probate court. When the family is ready to move forward with the sale of the farm ground, our Farm & Ranch division is prepared to facilitate the marketing and sale.
This situation is not unique. But our experience and network of resources means, in addition to marketing and selling real estate, we are well equipped to assist your clients in the numerous aspects of estate responsibilities.
- Disposition of Real and Personal Property
- Broker Opinions of Value
- Personal Property Appraisals
- Coordination of Property Maintenance
- Coordination of Clean-out/Trash Removal
- Competent and Experienced Communication with Estate Professionals
And that makes us a powerful resource for probate practitioners and their clients.