Difference Between Trust Sale and Probate Sale

Posted by Techyscouts | Posted on 12/10/2023
  •  Probate

    • Although most of us are likely familiar with the terms trust sale and probate sale, we may be unclear about the difference. For questions such as this or any other aspect of probate or estate sales, Michael Millea is the expert you can ask.

    With more than two decades of real estate experience in the greater Los Angeles area, his award-winning expertise can answer all your questions and provide peace of mind by knowing you’re working with one of the best. Conveniently located at 239 Oregon Street in El Segundo, Michael Millea serves clients throughout California, so call him at 310-425-9838 to schedule an appointment.
     

    What’s the Difference Between a Probate Sale and a Trust Sale?

    The main difference between these two types of sales is that a probate sale is administered by the courts, whereas a trust sale is administered outside the courts
     

    Probate Sale

    Probate sales are administered by the courts and can take years to complete, depending on the complexity of the estate. Fees and costs are determined by the court, and all asset transfers must be court-approved. Proceeds are generally used to pay off debts and taxes. Any remainder goes to the estate or beneficiaries. Learn more about probate sale options here.
     

    Trust Sale

    A trust sale begins when you establish an irrevocable trust that distributes your estate after you die. The proceeds will go to your beneficiaries, and the sale will be conducted outside the courts. Fees are usually paid on an hourly basis.
     

    Which Type of Sale Should You Have?

    Individual circumstances determine the best type of sale you need. You’ll need professional advice from a Los Angeles conservatorship real estate broker.

    If you live in the West Los Angeles area, then West LA probate real estate broker Michael Millea can help you. With the distinction of being one of five individuals in the U.S. who is both a real estate attorney and a real estate broker, you’ll be confident in receiving the best advice possible.
     

    Which Type of Sale Costs More?

    The cost of your sale will depend on your individual circumstances, but generally, a trust sale is more expensive. West LA probate real estate broker Michael Millea can advise you on the costs of each, so call him for an appointment.
     

    How Do You Establish a Trust?

    Trusts should be established by an attorney or a Los Angeles conservatorship real estate broker. Michael Millea is both of those.
     

    How Do You Contact a Los Angeles Conservatorship Real Estate Broker?

    For Los Angeles or California properties, you can do no better than to contact Michael Millea at 239 Oregon Street, El Segundo, CA, at 310-425-9838 for an appointment. You may be tempted to embark on this as a DIY project. However, you’ll be ahead of time and money, and you’ll have considerably less stress when you know your transaction is being conducted by one of the best.

    Call Michael Millea today for an appointment.

    Comments are closed.