Email Elizabethsuccessor trustee sale
Being Named A Successor Trustee As A Professional Fiduciary
Being named a successor trustee as a Professional Fiduciary is a seriously responsible job. What made me think of this is I work with Professional Fiduciaries. They represent people who need representation as they don’t have a family member or a friend they trust enough to take the job. Often, they have no family.
A Professional Fiduciary gets paid, of course. They go to doctors’ appointments, hospital stays, pick up prescriptions. They even purchase memory foam mattresses to keep their clients more comfortable. It is not inexpensive to have professional care, but it is a lot less than going into a care facility. Professional Fiduciary cases often prolong independent living in most cases.
One of my fiduciaries was at the hospital yesterday for four hours as one of her clients had a procedure. I often talk to her at night, and she is at the hospital until the early hours after midnight. She also pays bills for them. Her job entails taking care of their home and whatever else needs doing. Being named a successor trustee as a Professional Fiduciary is a vast job and carries so much accountability to the courts.
A few years ago I met a couple who wanted to buy a home in Elk Grove at Del Webb. I became very close friends with them. Unfortunately, the husband was also very sick with a horrible disease. They had no children. Sadly he passed away. I became the Successor Trustee for their trust. I am not receiving anything from the trust and I don’t want a red cent.
My friend has family members to help with the daily functions. I would be called in the event she became unable to care for herself, or doctors feel it is time for hospice. In the event she passed away, I would then administer the trust so her assets could be liquidated, including her primary residence. After the liquidation, the assets could be distributed to her heirs. She is doing well so I expect many happy years of visiting my friend.
Please call Weintraub & Wallace with RE/MAX Gold, if you would like to buy or sell a home. We represent a large number of Trustees and Successor Trustees as well as probate court sales. We can be reached at 916-223-6759.
Weintraub & Wallace
Being A Successor Trustee for My Friends
I became a Successor Trustee for a few friends. Some years ago, I sold a home in the active adult community of Del Webb in Elk Grove to a couple I met from Las Vegas. Rosanna and Rich later became my dear friends. Sadly, Rich died of a debilitating disease a few years ago. It has been a really a sad time for Rosanna. He was the love of her life. They had met in California and moved to Hawaii, sold real estate together on the Big Island. Later they moved to Maui, bought a business and did very well.
Rich decided after several years they should move to Vegas. They loved nightlife and the casinos. After much deliberation, they sold the Maui business to a friend and moved. They bought a place near the casinos. The business in Maui filed BK 18 months later, evidentially run into the ground. Rosanna said the business had been a cash cow. To end the nightmare, they had to buy out the space lease; it was a real mess.
I relocated them to the Sacramento area from Las Vegas. The hot temperatures were taking their toll on Richard. After Richard passed, no one in the family wanted to accept the role of Successor Trustee. To be a Successor Trustee, you have to be willing to stop life support, if that’s what the DNR (do not resuscitate) dictates. She asked me and I said it would be my honor to accept the role. I am now the Successor Trustee of Rossana’s Trust. Rosanna has no children. I’m not an heir. I told her I want no payment whatsoever. Friends help friends. I’m happy to help ease her worry.
Rosanna knows I have no problem making decisions that relieve the suffering of animals and or humans. Another friend of mine whom I’ve known for about 30 years also made me the Successor Trustee of her trust. She has two children, but they’re both not really in a position to make the final decisions or handle her finances.
I also, of course, would take care of all the cats if something ever happened to either person as I’m the Successor Trustee for my friends. They know I will do what they wanted to the letter. Everybody knows I have 10 cats and always have room here on my farm for a few more.
I delivered Rosana’s kitty yesterday evening. She adopted the orange tabby I was fostering. I have gotten so attached to him so it wasn’t easy to say goodbye. I knew that she was going to be happier and not so sad. His sweet personality he will provide her so much company. He will have lots of love and attention 24/7.
Before I delivered the kitten, I went to the pet store and bought everything I could think of toys, cat trees, scratching boards, catnip, litter boxes, cat litter, cat food, and a big cat cage. I also took all of the things that have familiar smells from my house. He loves his pillow, and his favorite toys so that he would not be so stressed by the move and living with a new person.
Rosanna then said let’s go to dinner as we had kitty all setup. We put him in his cat cage which he’s used to, as he has one at my house that he just loved. I didn’t even get home until almost 11 p.m. and I was dead dog tired. I know sweet “Buddy,” one of the orange tabby kittens will give her so much love and companionship. Goodbye for now sweet kitty. You will be missed but your huge purr and tiny paw prints made an impression on my heart forever.
If you want to list or sell real estate and need a referral to a great trust attorney, please call Weintraub & Wallace Realtors with RE/MAX Gold. We can be reached at 916-233-6759.
–JaCi Wallace
Successor Trustee Sellers Thrilled They Picked Right Agent
These successor trustee sellers did not know which agent to hire but they knew they wanted an experienced Sacramento Realtor. So, they went to a referral service that refers top producers in exchange for a piece of the action from the agent. This particular company sends seller’s information to a bunch of top producers and they let the agents fight it out to get the business.
As a top listing agent in Sacramento, I charge more than just about any other agent, because I’ve never lowered my commission from 40 years ago. It’s been the same amount. However, I am also confident I am worth the standard commission rate and so are my clients. They know better than to shop for an agent based on commission. We all charge about the same anyway; and they wanted the very best.
It also helped that I checked out the property before I contacted these successor trustee sellers. Even knowing that sellers often go with the very first agent who contacts them, I take my time to verify that I really want the listing. That means looking up the history of past sales and studying the specifics for red flags. This way I speak with authority when I talk to the sellers.
Upon checking, the public records showed no sales since 1989, and different sellers were in title than the names I had from the referral source. Due to experience, I guessed quite accurately that it was a successor trustee sale, as I do so many of them.
When I sent a quick email to the successor trustee sellers, I asked if this was a possible successor trustee sale. They called and asked me to come over. Said nobody else had figured out that this was not really their home or how they came in possession to sell it. I was the only agent who took the time to do my homework first before I chased a listing.
Every single listing I take is important and special to me. Few agents are as focused or dedicated to the sellers as I am. Sometimes I hear agents tell sellers that Elizabeth Weintraub can’t possibly do a good job because she sells so many homes, and they can do a better job because they sell so few. Which is the stupidest thing I’ve heard since Trump began tweeting.
Quantity does not equate to bad quality, just the opposite. The reason I sell so many homes is because I make each seller feel like they are my only client. I am devoted to their transaction and offer this service because I am organized, efficient and driven by my sincere passion for real estate.
Upon meeting the successor trustee sellers, I immediately felt a connection, and I think they did, too, because they hired me on the spot. I recall standing in the dining room with them and looking at what appeared to be wet spots around a window, which stained the wallpaper. The sellers asked me what I thought. They were puzzled because water intrusion had not happened. Funny enough there was a crochet curtain draped over the top and down the sides as a topper. It looked like the owner had removed the topper to wash it and hung it back up wet.
Which is exactly what had happened.
I gave the sellers the name of my handyman to remove the wallpaper from that wall and paint it. Then I suggested they call my carpet cleaning guy, who is obsessed with making carpeting look new again. Initially, I thought we would market it as a fixer since it needed updates. But after spending time in the home, I suggested a different strategy to maximize profit potential, and sure enough, that strategy worked.
We closed escrow at list price, $674,950. Which was also a very aggressive price, and we sold the home in four days. 2023 Lux Court, Carmichael, CA 95608 closed escrow on January 14, 2019.
A Silver Lining to a Sad Successor Trustee Sale
This successor trustee sale focused on a silver lining at the end.
Right before I received the “confirmation of closing” email for a successor trustee sale near Elk Grove, I had received bad news from my vet about our cat Horatio. Poor little guy had a bit of diarrhea, so I took him to the River City Cat Clinic in Land Park. We adopted Horatio about a month ago. The vet suggested we test him for leukemia and AIDS, since he came from a shelter. Well, the vet called yesterday afternoon to say the results came back positive.
When I was 23, I lost my Himalayan, Cairo, to leukemia. I had visited that cat daily in the hospital. He could barely stand up with tubes taped to his legs, he was so sick. I would reach through his cage and gingerly hold him, trying not to sob. He didn’t make it. I can’t do this again, is my first thought.
Never in a million years did I expect our newly adopted cat to have leukemia. They don’t vaccinate for that when your cats are indoor. Tessa and Jackson have not been exposed to the leukemia vaccine. I can’t test either of them for 30 days. Our cats could die. All of the cats at the shelter could die. Horatio could die. I’m absorbing all of that when the email popped up informing me the successor trustee sale had suddenly funded and closed.
I had met that seller when I came out to the house to do my visual inspection. Met both daughter and mother. Days later, BAM, the mother collapsed into a coma. Daughter and I listed the home. Her mom is in hospice now. Just thinking about life and its preciousness was enough to make me want to cry, but I had to call the daughter to let her know the sale had closed escrow. How are you, she asked? Well, I wasn’t planning on saying anything personal, but I could not say peachy keen. I shared what happened with Horatio. I was a bit raw at the moment. We talked about her mom. End of life options.
You can’t always bottle up stuff. It’s not healthy. Now I sometimes fight it, but despite my analytical nature, I am a compassionate person. I try to show empathy for my clients. To be aware. Everybody has some horrible thing going on in their lives, when it comes right down to it. Stuff we share, stuff we don’t. But it’s there.
OK, silver lining time. There is always a silver lining.
I set aside my tears. I reminded the daughter about how many offers we had received, four in all. The very first offer was from a young couple trying to use the CalHFA program for first-time home buyers. This is a program that is hard to get an offer accepted for in our Sacramento seller’s market. Everybody wants the cash buyers or the conventional buyers. Some listing agents wrongly pigeonhole CalHFA buyers and shove them down the totem pole. The only kind of buyer that struggles more with offers than a CalHFA buyer is a VA buyer.
Of all the offers we had received, the CalHFA offer was the lowest. It was only $5,000 over list price. I want what is best for my seller. We want the committed buyer who will close and not try to make the seller pay for repairs or or closing costs. We want the highest offer. But in this instance, I pointed out to the seller that I felt our list price was the top of the market, and it might not appraise for more. All of those other offers are pretty much worthless if they are contingent on an appraisal, and it doesn’t appraise (and they were contingent).
Why not give the CalHFA couple a break? I suggested. Why not sell to them? We can make an agreement that they will take care of any lender-required conditions or repairs, and let’s let them buy the house. They have a family and are just starting out. Wouldn’t your mom prefer to let a young family take over her house? Breathe new life into a home that brought the mom so much joy over the years? It’s really the same money no matter how you look at it due the appraisal situation, and these buyers deserve consideration.
The daughter agreed. The CalHFA buyers were the first offer, too. They had waited through the weekend, after the open house, and that patience won the house, even though there were multiple offers. This successor trustee sale closed, by the way, at my original suggested sales price. The appraisal was at list price, not above. I was right all along. And that’s why it pays to hire an experienced Sacramento Realtor.
The daughter and I wish the new homeowners many happy years in their new home. She and I each are enduring our own pain, you can’t get away from it in life, but it’s good to acknowledge that something wonderful also happened yesterday.
