According to the US Census Bureau, US boomers are the second-largest population group in 2022, comprised of 69.6 million people ages 58 to 76. Our parents are aging. 70 million people means that many of us will be dealing with the inevitable task of handling our loved ones estate or possessions after they have passed. There are three different ways a person’s estate is handled after they pass and it depends on what they did prior to their death.
A common practice by baby boomers has been to create a trust. Trusts are usually established to provide legal protection for a persons assets and to ensure they are distributed according to their wishes. Additionally trusts save time, can limit tax implications and prevent the need for court involvement as well as the fees associated with that. People typically put their homes, bank and stock accounts or other assets in a trust. In the trust they name a Successor Trustee, someone who is responsible for handling the liquidation and distribution of the assets of the estate.
When no trust is in place the person’s possessions and assets must go through Probate. Probate is complicated, but simply put it is the judicial process in which the state “proves a will” or decides how to distribute assets because no will is in place. If a will is in place, one in which a person names who is to be in charge of their estate after they die, the court names that person the Executor with “Full Authority”. That authority, once given, allows all decisions going forward to need no further court intervention. In California this process takes about three months.
On the flip side, if no will is present, it is called dying “intestate.” A judge will determine how who to appoint as administrator of the estate and how to divide the assets based on state law, not the deceased’s wishes. This court appointed Administrator has what is called “Limited Authority”. Due to the limited authority of the Administrator this process takes up 12 months and requires many court hearings, court approval and can cost 10’s of thousands on legal fees.
As Realtors who are Certified Probate and Trust Specialists we have dealt with each one of these situations first hand. We have represented Successor Trustees, Executors, and Administrators. No matter which process the estate is going through it is often very emotional and overwhelming for the family dealing with it.
Over the years we have worked with many estate sale companies when helping our clients get their loved ones home’s ready for sale. What we found was an industry that was lacking transparency, clear communication, compassion, and follow through. Being witness to these transactions left us feeling frustrated and powerless. Watching our clients receive sub par service and being treated in a way we felt was not nearly what they deserved made us realize there was a great need to be met. A need that we felt we were inherently built to fill.
We have always been people who focused on taking care of others, doing the right thing and going the extra mile. As Realtors that way of operating set us apart from our peers so much so that we were able to build a successful company solely on referrals. Eventually we rebranded our real estate business with the tag line “Hustle and Heart.” After years of client interactions and closed transactions we felt it perfectly personified how we approached everything we did, not just professionally but personally as well.
Matt and Kelly Lee - Realtors and Certified Probate and Trust Specialists in Placer County
After a client needed a loved one’s estate liquidated fast, and no estate sale company could do the job, we decided to start Hustle & Heart Estate Sales in conjunction with Team Lee Real Estate. We felt this partnership was the perfect combination of businesses to help clients dealing with this specific situation. We used all the learnings from our background in business, real estate and management and coupled it with the take-always and missed opportunities we saw from other companies to create what we feel is the most comprehensive estate liquidation experience around. You can check out our subsidiary, Hustle and Heart Estate Sales and the services they provide at: www.HustleandHeartEstateSales.com.
When working with Team Lee Real Estate and Hustle and Heart Estate Sales you don’t have to worry about a thing. We handle everything from start to finish, including communicating with Probate Attorneys. This allows you the time to focus on the most important task of emotionally processing the loss and grieving your loved one.
We will first meet with a family to asses their specific needs, situation, and timeline. Hustle and Heart Estate Sales provides three different options based on the amount and value of the items that need to be sold. We can do a full service estate sale where all the possessions in a home are sold, even vehicles. Another option is consignment. We take specific items to our store front or to our on our multiple online platforms. The last option is a clean-out. This would be the case if the family wanted to take most of the items or the items didn’t have much value. In a clean out all trash and debris is removed ensuring the home is ready for sale. Many situations call for a combination of some or all of these.
Once the possessions are sold and/or removed the home is ready for sale. That’s when the the Team Lee Real Estate side jumps in. Team Lee will ensure the home is shown in the best possible light. We will coordinate, attend and even help pay for services to help the get the home market ready. Based on the home’s condition and the family’s goals that could include getting a painter, landscaper, housekeeper, carpet cleaner, pest inspection, handyman and always a professional photographer.
Team Lee Real Estate and Hustle and Heart Estate Sales are built on relationships. We honor those relationships and realize they are the most important part of our businesses. Our commitment is to take personal care of our clients at each step of the way. We will make the estate liquidation and home selling process seamless and stress free with great integrity, dedication and compassion.
