Unlocking the Secrets: How to Find a Deceased Person’s Assets During Probate
Download MP3In this episode, we dive deep into the often-overlooked but highly sensitive process of asset distribution during probate. If your family is dealing with a recent death, this episode is a must-listen.
🔍 Key Points Covered:
- Importance of being aware of asset distribution after a loved one passes.
- Common inquiries around probate and executor fraud.
- Typical assets involved: vehicles, bank accounts, cash, real estate, and personal belongings.
- Understanding the role of an executor — formal or informal — and the legal responsibilities involved.
- Why distribution must follow legal procedures — and how doing it informally can cause big problems.
- Example of a case where family members were unaware of asset distribution decisions, causing disputes and resentment.
- A real-life story where improper distribution led to $220,000 in penalties and legal fees.
- Another example involving farm equipment and a hidden car sold without informing all heirs.
- The importance of conducting a full asset search, including bank accounts, real estate, vehicles, and corporate assets.
- Explanation of "fraudulent conveyance" — when assets are sold or given away without legal authority.
- Why comparing asset lists before and after death is critical.
- The need to file a final tax return for the deceased.
- The significance of proper documentation, even if there's no will (intestate cases).
- Why having legal counsel and professional asset search support is essential in avoiding conflicts and surprises.
🎧 Tune in to learn how to protect your family's inheritance, identify hidden assets, and avoid probate nightmares.
