1. Closed-ended questions typically start with a verb like âareâ, âisâ, âdidâ, etc. Depending on all these factors, it may be difficult to finalize the collection and distribution of assets. For example, some people die owning businesses, multiple homes, cars, or boats, or unusual assets, such as airplanes. Check to see if some gift wasnât distributed to a beneficiary. How long does it take? In both cases, the opening of an estate is done through the local probate court. If the account earns interests, it may be advisable to move the money to non-interest earning account to avoid paying taxes on that interest. 500 N. Juniper Drive, Suite 275, Chandler, AZ 85226   |  8665 E. Hartford Drive, Suite 115, Scottsdale, AZ 85255 It’s all in the wording and approach! The estate was closed in 1996 and in fact was even determined to be insolvent (not having enough assets to meet its debts). Now that their past vendor is out of the picture, you’ll have more room to swoop in and grab another new client. As you prepare to ask any open-ended sales questions, bear in mind that the most difficult task is not sounding too contrived. For questions about the status of an estate tax return, call 866-699-4083. The best sellers use a mix of open-ended and closed-ended questions to conduct a thorough needs discovery, touching on a number of different topics. News 10.3.2020 13:42 | updated 26.12.2020 0:21 Coronavirus latest: 201 new cases, Covid exposure in Vuokatti This article brings you the latest updates on the novel coronavirus pandemic in Finland. Proc. You should have several additional questions specific to your industry, but these will get you more than started. by kate (maryland) how can i find out if my husbands estate is closed? Here are 21 Questions a Real Estate Agent Should Ask you before prescribing the right solution for your situation and your home: What’s the reason for the sale? The best real estate agents will get to know you and your property first before prescribing a best-fitting marketing solution to sell your home. While we've suggested wording here in this article, feel free to use the concepts, but make the wording your own when you ask the questions. When is an estate considered closed? Relevance. You may only have one chance to connect with a person or prospect. Finally, many questions may be … Contact your attorney or one of our CPAs about the process of closing an estate. Pro tip: Pair closed-ended questions with open-ended ones to better understand and address your quantitative data. Buyers aren’t the only ones who should be asking questions during the buyer interview. Open Vs Closed Questions For Small Businesses. Q: In NC, how do I sign probate annual inventory if co-executor died? SMH! Once you have sought the guidance of an attorney, your next step is to contact the bank. Do Not Wrap Up Too Soon or Take Too Long Closed-end and open-end investments have basic characteristics in common. In case you’ve not had the opportunity to write down your open-ended favorites, here are 30 of ours. This is often called a convergent question. Small Business Sales Training: Learning how to ask open ended questions at the right time can lead the sale closer to buying. You don’t have to play guessing games with your clients, and you can work around their needs. The idea is to obtain quick, easy responses. Thought I might give a shot to some of your answers, as I've been dealing with these questions for a number of years now. Another question is this; I am the executor of my brothers' estate. Once those opportunities have passed, the estate can safely be closed. However, there are times when beneficiaries or heirs refuse to sign releases. Communication about the status of the estate may help prevent disputes. If there’s no will, a family member — usually a spouse or child — will commence an estate proceeding seeking to become the court-appointed administrator of the estate. Is there an alternative to the Estate Tax Closing Letter? Ask the question and let the prospect/ customer give you their answer. I need to file both 2019-2020 and 2018-2019 annual filings for the estate, but if it is a co-executor situation both are required to file. What are Close Ended Questions: Definition Close ended questions are defined as question types that ask respondents to choose from a distinct set of pre-defined responses, such as âyes/noâ or among set multiple choice questions.In a typical scenario, closed-ended questions are used to gather quantitative data from respondents. Will or No Will When someone dies, an estate proceeding is necessary if the person owned separate assets without designated beneficiaries. Examples of closed Yes-No questions … Yes-No questions are closed questions. In those situations, the executor or personal representative may consider filing for a judicial accounting so that the court can review and approve it. If I am buying or selling real estate, at what point do I need to hire a lawyer? Closed end questions should be used to clarify and direct the conversation. Where do these vehicles fall on the risk spectrum? Distribute any remaining estate assets. In theory, learning how to close a sale is actually pretty simple: show up prepared, give your pitch, answer your prospectâs objections, ask for the sale, and if needed, follow up until you get a definitive answer.. As mentioned before, close ended questions for sales are not limited to “yes” or “no” answers. Primarily speaking, the questions begin with phrases such as “Are there any…” or “Will you be…” By starting your questions with verbs, you are positioning your customers to provide you with a direct answer. You should look at your copy of the will. With a release, the administrator can distribute the assets with confidence. Closing a person's estate after they die can often be a long, detailed process. my mother in law is wanting my husband to sign some paper stating that he acknowledges his grandmothers estate is closed. Write down the ones you find valuable. If open ended sales questions are a way to get to know your customers in a general sense, then with close ended questions for sales you’ll get right to the point. Obtain tax clearances from appropriate government agencies. Answer Save. Get started Ask an Estate Planning Lawyer a Question You'll hear back in one business day. Let us help you makes sales calls even easier. Is she still executer of the estate if the estate of my mother was closed . In commercial real estate brokerage, the questions that you ask will help build listing opportunity. M-F: 8:30AM - 7PM [EST] Your attorney will review the file and verify that the estate was in fact closed. My question is - Is the money hers or is it still legally suppose to be divided amongst myself and her -the children. There are a plethora of articles (like this one) designed to help clients find the right agent, but there a After making the final distribution to the beneficiaries, final tasks remained to close the estate. My brother died this March. Asking them at the wrong time will kill the conversation. Anonymous. As well, expect questions designed to find out what certifications and licenses you have. You may get situational questions, which focus on how you've handled a given situation in the past. I, the oldest son, was living outside the USA at the time and am in the USA now and could feel I should have a say, and not feel I am receiving a gift rather an inheretance. Prior to distribution, one of the heirs may demand a formal accounting. Only authorized individuals will be provided information related to a taxpayer. The sales sense springs from real estate, where closing is the final step of a transaction. At that time, the executor or personal representative could request the court to release him or her from any liability. If you have been named an estate executor, it is important to do these steps in the right order. Were you satisfied with your last vendor? Homes for Sale; Open Houses; Recently Listed Homes; Recently Price Reduced Homes; New Construction; Lots and Land; Luxury Homes; Foreclosure Listings; Search by Map; Search by Drive Time; Search by Property Type. Hi Chris! Are you ready to move forward (with this transaction)? In the simplest of terms, close ended questions for sales provide reps with clear-cut facts. Asking close ended questions will give you clear answers. Now the bank is calling me, as the executor of her estate, demanding that I pay the mortgage. question about "closed" estate? The federal estate tax exemption is $5.43 million for 2015. In some cases, money from selling the assets is used to pay debts. Get started Ask an Estate Planning Lawyer a Question You'll hear back in one business day. Saturday - Sunday: Closed, Sign up with Blitz today for a 30-day free trial, The Top 5 Lead Generation Strategies for 2021 (With Examples), How to Optimize the Impact of Your Business Training and Development, 5 Expert Customer Retention Strategies for 2020, 5 New COVID-19 Insurance Industry Trends You Should Know, 12 Tips to Use Technology to Increase Workplace Productivity. Reopen the estate if all assets were not distributed. Share your thoughts in the comments below. Navigate the Challenges i do not trust her with money matters, and am concerned about him signing something and getting in trouble. In the kindest possible way, ask and make sure that they understand what they are getting themselves into before finalizing a deal. Like mutual funds, REITs can be open-ended or closed-ended. Learning: ask open and closed questions, and use probing questioning. One thing I've not found much literature on is the concept of open vs. closed end real estate funds.. Aside from the obvious details that closed end funds have a finite life and therefore are (most likely) IRR driven, what other details are relevant? According to the Fulton County probate court (where my dad lived and died), my dad's wife still hasn't closed the estate. Once a probate administration is completed and the estate becomes a closed estate, one would hope that it marks the end of the process. 4. Request a copy of the closed estate filing for the individual to confirm your findings. They do not encourage further answers. I am co-executor with my brother on my father's estate in North Carolina. Give them a set number of options so that you know what to expect. Do you like this (new/different) feature that our product provides? by Sam Parker (sales expert and bestselling author). Like: Is this a good time to talk? Be upfront with them so that they know you’re serious, and you know that they’re serious about doing business with you. Can you come in again on Monday or Tuesday? Obviously there are many more than just 10 questions you should ask before you purchase commercial real estate. Yes. Is it a frickin' male or female? For example, âWhich option would you like to start with?â is a close-ended question. Behavioral questions are also common - these focus on how you would handle a future situation. This article contains general legal information and does not contain legal advice. My brother and sister are the executors for my fathers date.. Below […] In any event, when the time comes to distribute them, the executor or personal representative can: It is not unusual to take a year or longer. Real estate questions, answers, advice, opinions, blogs & articles. Your questions centered on whether you can sue him as an individual outside of Surrogate Court and I don't see that avenue as open to you. Contact a qualified estate planning attorney to help you ensure that ⦠The law is complex and changes often. For example, how many times have you shown a buyer a series of houses you thought matched her needs, then ended up writing an offer for something entirely different? Here is an example of a close ended question for a sales rep that does not need a “yes” or “no” answer. Open questions for homebuyers is the way to go for a real estate agent. If you have been named an estate executor, it is important to do these steps in the right order. Executor says the case can not be assumed by another lawyer? Take a look at our examples below and see if they’re applicable when you’re in the middle of completing a transaction with your customer. Yes-No questions likely make awkward and short conversations. Need Help filling out a Closed Estate Affidavit? They’re in the market and are shopping around for a business that offers better services. Click here to learn about the 5 circumstances under which an estate ⦠Lead Gen; Web Design; Marketing Automation; Blog; Call Us 480-788-2460. The first blank is easy enough, but I am not sure how to fill out the second space. (Some states require the executor or personal representative to provide an affidavit explaining what is causing the estate to stay open for so long.) Relationship building: people generally respond positively if you ask about what they do or enquire about their opinions. ⢠Outstanding estate taxes are paid (usually within nine months of the estate opening, depending on any extensions). Consumer Log in; REALTOR ® / Pro Log in; Main Menu; For Sale . Then, they are able to advise what to do after probate has closed. 1. 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