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What is Probate?
Probate is the legal process of handling an estate after the owner has passed away. This means that a loved one such as a family member or friend will usually come into ownership of the property. This can be a joyful experience, finding out that a loved one chose you to care for his or her belongings. However, this joyful experience can come with unexpected problems.
Imagine this scenario: A loved one leaves you in possession of his or her home, only for you to find out that the home is in poor condition, and you need to begin paying taxes on the property, today. You may not have the money saved up to cover 10-40k in repairs before you can sell your home with a real estate agent and put the house on the market.