Learn More About Mike Millea & His Dedicated Team
Although it’s extremely difficult to think about, it’s important to consider what will happen when you or a loved one passes away. If a deceased person grants you or any other family members rights to a residential or commercial property, it qualifies as probate real estate. It typically involves paperwork and court appearances by lawyers, as well as time and commitment from the people who are inheriting this property. You deserve your time and space to mourn your loss, so allow Mike Millea to handle the financial and legal aspects of probate, trust, and conservatorship real estate. Mike is a Los Angeles probate real estate agent, with the advanced knowledge and tenacity to streamline this complicated process for all his clients.
The Difference Between Probates & Conservatorships
During a probate transaction, the property owner is deceased and courts must decide who inherits the property that’s been left behind. Probate can be avoided by creating a trust, which states how and when the assets pass on to the beneficiaries. However, with a conservatorship, the owner of these assets is still alive but cannot care for himself or herself or handle the financial aspects of their property. In this case, a judge appoints a conservator, to take charge and manage the daily life and/or financial affairs of the conservatee. Benefits of a conservatorship include:
- The court supervision provides a safeguard for the conservatee’s assets and property.
- It provides other family members with a sole decision-maker.
- Conservators must seek permission from a judge before making any big decisions.
After death, a conservator becomes an executor, who then settles your estate according to the terms established in the will or trust. This means paying off any debts or bills, and passing the property to the beneficiaries.
Call Your Trusted Conservatorship Real Estate Broker Today!
Navigating the complexities of conservatorship can be stressful and difficult. We’ve assembled a team that can walk you through it, led by Michael Millea. You can call us directly at (310) 939-9356 or visit our office in El Segundo, CA to learn more about conservatorship, probate and trust situations. We’re thrilled to serve clients in the Greater Los Angeles area, including Malibu, Orange County, Ventura County and other surrounding areas.