Every morning without fail, I check national news outlets online and it seems not a week goes by without learning of another luminary’s untimely death. Tom Petty is seared most recently in this author’s memory.
This brings into focus the value of probate leads and debunks some sentiments I’ve heard from real estate agents that specialize in luxury real estate who muse that well-to-do homeowners do not enter the probate process. They reason that affluent people are surrounded by a bubble of lawyers, accountants and other advisors that protect deceased assets and insulate their family members from the often-harrowing probate process. By extension, then, probate leads will not capture the information of wealthy estates.
You would get some argument from Prince’s sister and five half-siblings, who are interjected in a cantankerous Minnesota probate process aimed to untangle the pop music icon’s estimated $200 million estate.
Prince joins a pantheon of other notable people, even Abraham Lincoln, in failing to have adequate estate planning. We noted in an earlier article that many people circumvent the probate process by having an ironclad living trust, but how many?
Read this AARP article that says there is a woeful lack of adults that have their ducks in a row.
We can only speculate the reason. End-of-life planning is a morose, depressing and frightening subject to be avoided. The lack of preparedness, coupled with an aging baby boomer population, presents unique opportunities for discerning real estate and financial professionals to prospect to a list of probate properties.
Jim Rutkowski has married his legal background with his real estate experience and passion for marketing to help real estate agents, investors, property management & financial professionals get more consummated transactions by getting their message out to families that have duties under a will, probate proceeding or trust agreement. If you are in the arena of probate, trust or inheritance, Jim is always happy to bounce some ideas around – call him at 310-595-5112 or send a scribe to firstname.lastname@example.org.