[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP Code] Re: Motion to Sell Property of [Estate Name] Court Docket No: [Docket Number] Property Address: [Property Address] Dear [Recipient's Name], I am writing to bring to your attention a crucial matter concerning the estate of [Deceased Person's Name]. As the appointed personal representative of the estate, I hereby submit this Motion to Sell Property in accordance with the laws and regulations governing estates in the state of Connecticut. Considering the responsibilities bestowed upon me by the court, the financial circumstances of the estate, and its multiple beneficiaries, I have undertaken a thorough assessment of the available assets and liabilities. Based on this evaluation, it has become evident that it is in the best interest of the estate and its beneficiaries to proceed with the sale of the aforementioned property. The property in question, situated at [Property Address], holds significant market value and presents an opportune time for sale due to favorable market conditions. By selling the property, we aim to alleviate the burden of ongoing maintenance costs, eliminate any potential risks associated with property ownership, and efficiently distribute the estate's assets among the rightful heirs and creditors. Furthermore, it is important to note that all statutory requirements have been met in regard to notice to interested parties and obtaining approval from the probate court. Additionally, we have obtained appraisals and sought independent advice from real estate professionals to determine the fair market value of the property. Hereby, I kindly request that the court grant this Motion to Sell Property of the estate, allowing for the initiation of necessary steps towards a successful sale. This includes authorizing the listing of the property through a licensed real estate agent, setting an appropriate listing price after thorough consideration of the appraisals, and allowing for necessary adjustments to be made in order to facilitate a prompt and advantageous sale. I ask the court to exercise its discretion and provide any additional guidance or requirements to ensure a transparent and fair process in selling the property. I am fully committed to executing this sale in the best interest of the estate and its beneficiaries, adhering to any court directives and meeting all legal obligations throughout the process. Attached to this letter, you will find supporting documents such as the appraisal reports, proposed listing agreement, and any other relevant information as required by the court. Please do not hesitate to contact me should you have any questions or require further clarification on the matter. I am available at [Your Phone Number] or [Your Email Address]. Thank you for your attention to this matter. Yours sincerely, [Your Name] [Your Title (e.g., Personal Representative of the Estate)] [Your Estate's Name, if applicable]
Connecticut Sample Letter regarding Motion to Sell Property of an Estate
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How to fill out Connecticut Sample Letter Regarding Motion To Sell Property Of An Estate?
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Section 36.5 Fiduciary to send copy of financial report or account and affidavit of closing to each party and attorney (a) A fiduciary submitting a financial report, account or affidavit of closing shall send a copy, at the time of filing, to each party and attorney of record and shall certify to the court that the ...
Full "probate" is ONLY required by law if the person who dies, with or without a will, (1) owned real estate (not just a life use) that does not pass by the deed to the "surviving" joint owner, OR (2) owned $40,000 or more of other assets that also don't pass by beneficiary or joint ownership to another person.
7 Steps for Settling an Estate in Connecticut Prepare and file the Petition/Administration or Probate of Will. ... Collect the Decedent's Property. ... Prepare and file the Inventory. ... Pay Claims. ... Prepare and file tax returns. ... Prepare and file a Decedent's Estate Administration Account or Financial Report.
For instance, in Connecticut, if the decedent's solely-owned assets include no real property and are valued at less than $40,000 ? which is the state's ?small estates limit? ? then the estate can be settled without full probate, under a much shorter and more simplified process.
In Connecticut, the following assets are subject to probate: Solely-owned property: Any asset that was solely owned by the deceased person with no designated beneficiary is subject to probate. This could include bank accounts, cars, houses, personal belongings, and business interests.
How much does an estate have to be worth to go to probate in Connecticut? In the state of Connecticut, the minimum value of the deceased's assets is $40,000.
First, you have an estate tax that starts at $2M. The federal exemption and most other states start at $5M. Second, the estate tax ranges up to 12%. Then, it has a material probate fee ranging up to 1%.
Within six months after the date of death, the Executor must file a Connecticut estate tax return regardless of the value of the estate. Connecticut has a $2.6 million estate tax exemption. It is based on the taxable estate after deductions.
