### Who manages the probate process when a person dies with a will? - [ ] The state where the deceased resided - [x] The designated executor - [ ] A real estate agent - [ ] A probate lawyer > **Explanation:** The designated executor, as specified in the will, manages the probate process when a person dies with a will. The executor's responsibilities include managing the deceased's assets, settling debts, and distributing the remaining assets according to the terms of the will. ### What happens to the property when a person dies intestate (without a will)? - [ ] The real estate agent manages the sale - [ ] The deceased's friends decide what to do - [x] The state where the deceased resided probates the assets - [ ] The beneficiaries choose the executor > **Explanation:** When a person dies intestate, the state where the deceased resided handles the probate process. The state laws require the court to appoint an executor to manage the assets, settle debts, and distribute remaining assets to the heirs according to state law. ### How are probate sales subject to court confirmation? - [ ] They are confirmed by a notary - [ ] They are confirmed by the executor - [x] They are subject to court confirmation - [ ] They require confirmation from a probate lawyer > **Explanation:** Probate sales require court confirmation to ensure that the sale is conducted appropriately and that the property is sold for a fair market value. This process helps protect the interests of heirs and creditors. ### Before the sale of probate property, what must happen? - [x] The pending sale must be published in the newspaper - [ ] The executor must approve the sale - [ ] The property must be inspected by the state - [ ] The heirs must give their consent > **Explanation:** The pending sale of probate property must be published in the newspaper prior to the sale. This publication serves as a public notice and allows interested parties to be aware of the impending sale. ### What are the obligations that must be met before heirs receive any distribution from a probate sale? - [ ] Signing a contract with a real estate agent - [ ] Finding new properties for the deceased’s debts - [ ] Transferring the deeds to heirs first - [x] Paying off all creditors, income taxes, and property taxes > **Explanation:** Before heirs can receive any distribution from a probate sale, all obligations of the estate must be met. This includes paying off all creditors, income taxes, and property taxes. Only after these obligations are settled can the remaining assets be distributed to the heirs. ### Who appoints an executor when there is no will? - [ ] The deceased's best friend - [x] The court - [ ] The nearest hospital - [ ] The property's real estate agent > **Explanation:** In the absence of a will, state laws require that the court appoint an executor. This court-appointed executor is responsible for managing the probate process and handling the deceased's property and affairs. ### What does probate sale refer to? - [x] Sale of an asset as part of the probate process - [ ] Sale of a property during an auction - [ ] Sale of a foreclosed property - [ ] Sale of a property by a real estate agent > **Explanation:** A probate sale refers to the sale of assets as part of the probate process, where property and personal effects are legally transferred to heirs or used to pay off creditors after the owner's death. ### Why is the probate process necessary? - [ ] To increase the value of the property - [x] To settle the deceased's financial obligations and distribute remaining assets to heirs - [ ] To place the property on the market - [ ] To renovate the property for better sale value > **Explanation:** The probate process is crucial for legally settling the deceased's financial obligations, such as debts and taxes, and distributing the remaining assets to rightful heirs according to the will or state law. ### What must the court do if there is no will? - [ ] Distribute the assets equally among friends - [ ] Sell the property at any price - [x] Appoint an executor to manage the probate - [ ] Exclude the deceased's creditors from the process > **Explanation:** If there is no will, the court must appoint an executor to manage the probate process. This includes taking charge of the deceased's assets, paying debts, and distributing the remaining property to the legal heirs. ### In a probate sale, when can heirs expect to receive any distributions? - [ ] Immediately after the death of the owner - [ ] After the executor's initial approval - [ ] Directly after publishing the sale in the newspaper - [x] Only after all obligations, such as debts and taxes, are met > **Explanation:** Heirs can only expect to receive distributions after all the deceased’s obligations are met. This includes paying off all debts, income taxes, and property taxes, ensuring that the estate is in good standing before any asset distribution.