Over the years, I’ve worked with countless families who’ve inherited property. 

Every story is unique, but one thing remains the same: the challenges they face during the ownership transition process often stem from a lack of preparation.

My fellow Daily Drip Thought Leader, Karen Ross, recently wrote a powerful article about moving her mom into assisted living and the extensive planning required when caring for aging parents. Her story resonated deeply because in my work, I’ve seen what happens when families don’t plan ahead. The heartbreak, the chaos, and the strain can be overwhelming.

Looking back, I realize many of my clients wished they had known certain things before they inherited property. These lessons aren’t just about avoiding mistakes; they’re about protecting relationships, preserving legacies, and creating peace of mind. I want to share their stories and the lessons they’ve taught me in the hopes that it might help you or someone you care about.

Here are 7 things my clients wish they knew before they inherited property.

Lesson 1: Always Have a Backup Care Plan

Miguel’s parents had a loving partnership, but his father was the primary caregiver for his mother, who had dementia. One day, his father passed away unexpectedly, leaving his mother alone for two days before anyone discovered what had happened. She hadn’t eaten, and her condition had deteriorated rapidly. The sheer panic and guilt Miguel felt when he got the call was palpable. How had they not seen this coming? How could they have been so unprepared?

We stepped in to help Miguel transition his mother into assisted living, coordinate the property’s clean-out, and sell it as-is. But the emotional toll Miguel carried was evident.

Life is unpredictable, and caregiving is a heavy responsibility. Many families want to keep their parents or grandparents in their homes as long as possible—a loving and admirable goal. But if that’s the plan, having a contingency plan isn’t optional; it’s essential. Families must include emergency contacts, care arrangements, and a local support network. It’s critical to document caregiving responsibilities and assign a backup caregiver who can step in immediately during unexpected situations. Without this preparation, the sudden loss of a caregiver can lead to devastating outcomes for both the individual and the family.

Lesson 2: Plan Ahead to Avoid Managing Property While Grieving

Erika’s family suffered immense loss, losing both parents and a sister within 18 months. When I met her for the listing appointment, it was her first time back in the family home since her mother’s passing. As she stepped through the door, memories of holidays, laughter, and milestones came flooding back. She broke down in tears, overwhelmed by the weight of her grief and the daunting task of managing the estate.

Because an estate plan wasn’t in place, the property had to go through probate, and in the meantime, Erika shouldered the financial burden of maintaining it. Every month that passed meant another round of expenses she could barely afford. We helped her clear out the home and used virtual renovation tools to reimagine its potential for buyers, but the process drained her emotionally and financially.

As you can imagine, grief and logistics don’t mix well. Estate planning can ease this burden by ensuring that properties pass seamlessly to heirs without the need for lengthy probate. A well-structured plan should include provisions for property maintenance and clear directives for selling or keeping the property. Without this, families are left to juggle their grief and overwhelming financial responsibilities.

Lesson 3: Prevent Family Feuds with Clear Estate Plans

Laura and her siblings inherited a property—but they hadn’t spoken in 20 years. To complicate matters, the property was at risk of foreclosure due to a reverse mortgage. When one sibling suggested buying out the others, old wounds and resentments erupted into full-blown arguments. The tension was unbearable, with accusations flying and phone calls ending in slammed receivers.

We facilitated the sale, acting as a neutral party to avoid further tension. While we managed to navigate the process, the experience left scars on the already fractured family relationships.

Estate planning can prevent family feuds. A detailed estate plan should include clear instructions on property division, buyout procedures, and mechanisms for resolving disputes, such as mediation clauses. Without these safeguards, unresolved family dynamics can resurface, turning grief into animosity.

Lesson 4: Act Quickly to Protect Inherited Properties

Xonjenise inherited what she thought was a straightforward investment property. But when the Section 8 tenant moved out, squatters broke in during a gap in the probate process. By the time she discovered the situation, the squatters had caused extensive damage—ripping out copper wiring, smashing windows, and leaving the property in shambles. She felt powerless as the bills for repairs piled up.

We helped her secure the property, clean it out, and sell it as-is. The loss was significant, but it allowed her to move forward without further damage.

It’s important to understand that inherited properties must be secured immediately. Change the locks, ensure utilities are active, and schedule regular inspections to prevent break-ins. Probate delays can leave properties vulnerable, so it’s critical to work with an attorney to expedite the process and protect your investment.

Lesson 5: Get Creative and Strategic with Your Plan

Isaac inherited a luxury condo from his brother, who had been in the middle of starting renovations before he passed. The tiles in the master bath shower were all ripped up, and the kitchen cabinets had no faces. To make matters worse, the condo market had shifted to a very aggressive buyer’s market. Condos that would have sold quickly during the COVID peak were now sitting for months. Isaac felt paralyzed. How could he honor his brother’s memory while also navigating such a tough market?

To tackle these challenges, we created a unique marketing plan. We advertised the condo as a full renovation opportunity, showcasing virtual renovation photos to inspire potential buyers. Additionally, we provided a complete renovation estimate and a trusted contractor connection to demonstrate how much instant equity buyers could achieve. This approach worked—the condo sold in just 11 days, even as other units in the same building had been sitting for months. Isaac felt at peace knowing his brother’s legacy was preserved and that he had achieved the best possible outcome in a challenging market.

High-value properties in a buyer's market require creative and strategic marketing plans. Estate plans should provide guidance on appraisals, tailored renovation options, and connections to trusted professionals. Without this level of planning and expertise, these assets can quickly become a financial drain instead of an opportunity to build value.

Lesson 6: Ensure Assets Are Properly Titled to Avoid Probate

Revlon thought she had done everything right. She created a trust, hired an attorney, and believed her estate was in order. But when she was diagnosed with stage 4 breast cancer, she discovered her attorney had never transferred her properties into the trust. This oversight meant the properties would still go through probate, leaving her children to deal with the legal mess she had tried so hard to avoid.

The realization hit hard. She felt like she had failed her family in her final days. We worked quickly to re-title the properties, avoiding probate and ensuring her final wishes would be honored.

Remember, creating a trust is only the first step. Properties must be formally transferred into the trust to avoid probate. Work with an experienced attorney to confirm all assets are correctly titled, and schedule regular reviews to catch any oversights. Without this follow-through, even the best-laid plans can unravel.

Looking back on all these stories, I can’t help but think of how much easier things could have been for these families with just a bit more preparation. 

My clients often tell me they wish they’d known how much estate planning matters—not just for the financial and legal aspects, but for the peace it brings during an incredibly emotional time.

If there’s one thing I’ve learned, it’s this: Planning isn’t about predicting the future; it’s about protecting the people you love from the chaos of the unknown. 

I hope these stories inspire you to start those hard conversations and take the steps to ensure your family’s legacy is secure. Because the only thing your loved ones should have to worry about when the time comes is healing—not untangling a web of unresolved issues.

If you or a loved one are inheriting property and have questions, my team offers complimentary consultations where we can help with your individual situation. Please connect with me via the contact info at the top of this article, or visit my website at alexarosario.com/consult