Untangling Family Estates: Losing a Loved One and All That Comes With It

 

Dealing with the loss of a family member is stressful enough as it is, yet in what is probably one of the most overwhelming times in one’s life we are left to sort out funeral arrangements, untangle family estate issues, and quickly arrange for the sale of any property owned by the deceased. When it rains it pours, right? Handling a million moving pieces is less than ideal when going through this kind of trauma, so this is a scenario in which we have found our “one stop shop” solution (which combines law services with real estate services) to be extremely beneficial. For families undergoing this type of grief, having a team of professionals available to deal with the full scope of the transaction from the family estate to the sale of property is like a gift from heaven. Rather than having to source out a lawyer and realtor individually and parlay messages between the two parties throughout the process, we save time and effort by having our team of realtors work closely alongside our lawyers every step if the way, so there’s no room for miscommunication, error or important missed details. You’ll have a dedicated lawyer helping to sort out sensitive and emotional estate issues, while your realtor is privy to all the details and remains close by to tend to any property related needs.

We all do our best to plan for the future and make death as uncomplicated as possible for the loved ones we leave behind, but inevitably things get sometimes get messy. The unpleasant truth is that when money is involved, families can act poorly, even turn on each other, and this can cause irreparable damage to relationships if the situation is not dealt with efficiently and professionally. In these types of situations, the process can get drawn out significantly before both parties are able to reach a settlement, which can rack up a pretty hefty legal bill if you’re not careful. Part of the benefit of working with a unique brokerage that combines real estate services and legal services under one commission, is that you’re protected from unexpected costs. Also, by having our lawyers and realtors operating as one team, under one roof, we eliminate a lot of the back and forth that’s required in a more traditionally handled transaction where you have a separate legal representative and real estate broker representing the seller.

At ReaLawState, when dealing with family estates and the sale of sensitive property, our ultimate goal is to make a difficult process as streamlined and stress free as possible, and get you the best deal conceivable so that you may protect your loved one’s hard earned legacy. Our focus is on creating long-term relationships with our clients, and handling each unique transaction based on its specific requirements. As human beings, we can’t plan everything, especially not death. We can, however, do our research to make sure we have all the right pieces (and people) in place when we are faced with these kinds of difficult and emotional decisions. Hiring a firm that will make your life (and transactions) smooth and uncomplicated seems like a good first step toward dealing with the death of a loved one, and all that comes with it.

Plan for your future. Plan for your family’s future.

One Team. One Goal. One Commission. For more information, contact us at info@realawstate.com!

By |2019-02-28T11:26:49-04:00October 3rd, 2017|All Posts, Professional Advice|0 Comments

About the Author:

Graham F. Alloway founded the firm Alloway & Associates in 1990 and carries on practice in the areas of banking and finance, bankruptcy and insolvency, corporate restructuring, creditors’ rights, and charities law. His clients include Canadian and foreign corporations, governments and private individuals. In addition to the practice of law, Graham has and continues to serve on up to ten corporate and charitable boards, some of which have been successfully merged or sold. He has been part of a management team for a commercial beef operation running in excess of six hundred head of cattle and is involved in small land development projects, both residential and commercial. Graham’s personal corporate interests lie in the generation of electric power, for which he has participated in the development of two hydro electric sites in northern Ontario, as officer, director and investor in all corporations. Further, he has participated in the management and investment in partnerships drilling for oil and gas in the United States.