Fiduciaries, Personal Representatives, Bankruptcy, Trustees, and Receivers
Our Award-Winning Team understands the duties of Private Professional Fiduciaries, Bankruptcy Trustees, Receivers, and Personal Representatives and the challenges that they face. With our accounting and financial backgrounds and our extensive real estate experience, we speak the same language as both the professionals and the laypeople. We believe in interfacing closely with all the “trusted advisors” of the client – from their accountants to their attorneys and everyone in between. We recognize that the actions of PPFs, Bankruptcy Trustees, Receivers, and Personal Representatives are heavily scrutinized, and we “dot all of our I’s and cross all of our T’s”. One of our goals is to reduce the stress of those appointed to such positions and to undertake many of their responsibilities in regard to the disposition of real property. We tailor the transaction to ensure that we protect our client, the PPF, Bankruptcy Trustee, Receiver or Personal Representative.
PRIVATE PROFESSIONAL FIDUCIARIES
Among the specific actions that we perform for Private Professional Fiduciaries:
- Customize language to ensure that, in the event a beneficiary objects, the PPF can seek Court Approval of a sale
- Establish and require a sufficient escrow period for providing a Notice of Proposed Action
- Market the property aggressively to make sure that the Inventory and Appraisal price is met or exceeded (Toward this end, we prepare and distribute professional marketing materials and advertise heavily.)
- Our goal is, of course, to expose the property thoroughly to give the PPF the confidence that he/she is accepting the highest and best price.
As a court-appointed officer, a bankruptcy trustee/receiver has many duties to fulfill and we assist you in fulfilling your responsibilities thoroughly, completely, and appropriately. We know that preservation of the asset is of the utmost importance:
- Minimize and stabilize the real property’s physical and financial vulnerabilities.
- Provide detailed analysis of current physical and financial conditions as they pertain to the real property.
- Make recommendations in regard to the management of the real property.
- Prepare the real property for sale.
- Market the real property aggressively.
Trustees/Executors/Administrators of an estate have major responsibilities in regard to the real property for which they are responsible. We maintain a high level of professionalism in the representation of the asset so that the Trustee/Executor/Administrator can be confident that he/she has done their due diligence in its disposition. We represent both seasoned Trustees/Executors/Administrators as well as those that are performing this service for the first time.
We strive to relieve your tasks in readying the real property for sale and in maintaining it throughout the transaction process. For example, we are skilled at doing all of the following:
- Minimizing the property’s vulnerability
- Arranging appraisals of real and personal property
- Deriving Date of Death Valuation and providing Rental Analyses
- Evaluation of property condition and arrangement of any necessary property improvements or repairs
- Coordination of preparatory actions such as lock changes, packing and clean out, etc.
- Aggressive targeted advertising (We ensure a high Internet presence including inclusion on a myriad of important websites and frequent comprehensive broadcast emails.)
- Professional marketing materials distributed and made readily available at the property and elsewhere
In sum, we do not simply list the property and wait for an offer – we prepare the property for sale and ensure its proper management. Our aim is to relieve the demands on the Personal Representative, as well as to ensure that the Trust or Estate sells for the highest and best price in the shortest amount of time, bringing value to the beneficiaries.