Please reach us at if you cannot find an answer to your question.
No, we are NOT lawyers or probate attorneys. Attorneys do not work in our office and we do not provide legal advice. However, we can put you in touch with local, professional attorneys that we have taken the time to vet.
Most of the folks we talk to do not pay us anything. Our advice and guidance is free of charge. Sometimes we will refer you to a 3rd party such as a lawyer or a handyman, in those cases we do not charge a fee nor to we get any 'kick-back' money from the 3rd party. There are some specific service that we can provide in our office. In those cases there will be a fee associated with the service. Fees are discussed upfront and service will be provided prior to any fee being collected.
Probate in Tennessee doesn't require the assistance of a lawyer. In fact, most folks that get an inheritance do not hire an attorney. However, if the value of the estate is large or if there are any potential family conflicts or conflicts with debt collectors, we strongly recommend speaking to an attorney. When in doubt, get professional guidance form a probate attorney. We do not provide legal advice, we are not attorneys.
Sometime a quick loan is need to keep the estate in good condition. Loans are available up to $100,000 and can be funded in as little as 10 days in some cases. Most loans need to be paid back within 1 year or less
There are two ways to sell real estate that you inherited:
1. Sell to an investor in 'as is' condition Most investors will pay 75% of far market value for real estate. The advantage is that investors makes the process easy and liquidation happens quickly. Most investor sales are completed in 20 days or less. No repair, no real estate agents, no hassle
2. Sell on the open market with a Realtor. The advantage here is getting Full Market Value and maximizing the cash return. However, it is important to use a Realtor that has a long history of specialization in probate sales. Your average real estate agent will not have the experience. Be ready to negotiate with buyers on repairs and you can expect the process to take 60-120 days depending on the situation
If you are out of the area and have inhered real estate you need to secure the property as soon as possible. There is an obligation to protect and upkeep real estate. Vacant homes are at risk for vandalism, theft and fire. We can assist by getting eyes on the property, changing locks and general maintenance.
Get insurance for vacant property. A proper policy will protect the home and is inexpensive. You can't depend on the deceased persons homeowners insurance, in most cases it will not cover a loss.
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