Q: Can I sell estate assets under IAEA authorization before probate valuation?

A: The clear answer is yes. However, you need to make sure that you document both the basis for the sale price and your choice of buyer when you sell the property, ultimately you owe a fiduciary duty to the estate and to maximize the value of any property in the estate.

Anytime you are dealing with issues such as this, an experienced attorney should be by your side. Failure to properly notify other interested parties as to the actions you are taking could lead to liability on your part. The procedural steps you take are important.

A: Yes, you can sell the residence and vehicle before the probate referee's valuation under your IAEA authorization in California. As an administrator with Independent Administration of Estates Act powers, you have the authority to sell real and personal property to pay debts without prior court approval, especially when addressing time-sensitive obligations like a reverse mortgage.

However, you should still follow proper notification procedures. Send a Notice of Proposed Action to all persons who requested special notice and any heirs or beneficiaries at least 15 days before completing the sales. Document everything thoroughly, including your efforts to obtain fair market value for the properties, as you'll need to report these transactions to the court later.

I recommend keeping detailed records of the sales prices and how they compare to market values. While the probate referee's formal valuation will come later, having your own documentation of fair market value at the time of sale will help demonstrate you fulfilled your fiduciary duty to the estate. Given that the proceeds will fully cover the debts and no other beneficiaries are affected, your approach makes practical sense in this situation.