Affidavit of Heirship, Investor Objections and Inheritance Taxes | Probate Mastermind Episode #367

Recorded Live on February 24, 2022

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

Call Re-cap:

00:00 Introductions

Jim and Bruce share general updates.

04:17 Affidavit of Heirship in Probate

Joe calls in to ask for advice and insights on the affidavit of heirship and how it affects the probate process. The team explains how an affidavit of heirship can be used to keep assets from going to probate. The laws for affidavit of heirships vary from state to state so it’s important to do some research on how your state handles transfer-on-death assets. Bruce shares Joe’s recent win story where an affidavit of heirship was used to carve the property out of an estate in probate. Tim explains how pre-probate fits into this topic and how you can help people 

23:37 What Are Typical Wholesale Fees

Ken calls in and explains that he is moving to Florida and plans to begin working probate leads. He asks about getting started and what typical wholesale fees are in Florida. Bruce explains that the typical wholesale fees are 15k to 20k but it varies depending on the market. Bruce invites Ken to Probate Foundations training next week and briefly explains the marketing strategy and sets expectations.

31:43 “I’m not Selling to an Investor” Objections

Felix from AZ is having a hard time with leads thinking he is an investor. Bruce shares some options for how to handle the objections and avoid them all together.

39:10 Inheritance Taxes

Joe calls back in to ask about inheritance taxes. Bruce explains, generally, how inheritance taxes work but warns that inheritance taxes vary state to state and year to year and that it’s important to have a good accountant with inheritance tax experience on your team.

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