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How to Manage Inherited Real Estate?
- Sabine Franco
- Aug 4
- 3 min read
You’ve just lost someone important to you and now you’re responsible for their home. Maybe it’s sitting empty while you figure out what to do next. Maybe you’re planning to sell it, or perhaps other family members want to move in.
What most people don’t realize is that an empty inherited home still needs plenty of attention, sometimes even more than one that’s lived in.
Managing an inherited property involves more than deciding whether to keep or sell it. From the moment you take on this responsibility, you’re dealing with security concerns, ongoing maintenance, insurance issues, and legal steps that many families aren’t ready for.
Here’s what to expect and how to protect both the property and your family’s interests.
Secure the Property First
The first 48 hours after someone passes are critical for protecting their home. Unfortunately, break-ins can and do happen when a house is known to be empty, even during funeral services.
Here’s what to do first:
Change the locks. You don’t know who may still have keys or alarm codes.
Update security measures. Change alarm codes, update emergency contacts, and let trusted neighbors know who should and shouldn’t be at the property.
Remove small valuables. Items like jewelry, electronics, cash, prescription medications, firearms, and even tools or lawn equipment should be secured or taken out of the house.
If possible, have someone present at the property during the funeral or services. This isn’t about emptying the house right away, but about making sure the most vulnerable items are protected.
Keep Up with House Maintenance
After securing the home, you’ll quickly see that the house still needs care. In fact, vacant homes often require more attention than occupied ones because problems go unnoticed.
Key tasks include:
Keep heating and cooling systems running. This prevents frozen pipes, mold, and damage to the home.
Schedule regular inspections. Small leaks or clogged gutters can turn into costly repairs if no one checks on them.
Maintain the exterior. Mow the lawn, clear snow, and remove mail or newspapers. An unkempt property attracts both thieves and code enforcement issues.
Address pest control. Rodents and insects can quickly take over an empty house, leading to damage and health hazards.
These steps help protect the value of the home and make it easier to sell or transfer later.
Update the Insurance Immediately
One of the biggest surprises for families is that a standard homeowner’s policy may not fully cover a house once it’s vacant.
Insurance companies often limit or even cancel coverage on unoccupied properties after 30 days. They may also charge higher premiums for special vacant property coverage.
What to do:
Contact the insurance company right away to report that the home is vacant.
Ask about vacant property coverage or other policy options.
Don’t wait, even if you plan to sell. Probate, clean-outs, and sales can take months, and the property needs to stay protected during that time.
The right coverage ensures that a fire, storm, or other disaster doesn’t leave you personally responsible for major losses.
How Legacy Planning Helps
If this feels like a lot to manage, you’re not alone. Most families are unprepared for the realities of inheriting a property. But with proper planning, these issues can be handled more smoothly.
When I work with families on a Legacy Plan, we go beyond basic legal documents. Together we:
Create a detailed asset inventory so your family knows exactly what properties you own and where to find the important paperwork.
Make funds available for property expenses so your loved ones aren’t paying out of pocket while waiting for the estate to settle.
Offer ongoing guidance so your family has someone to walk them through every step.
This type of planning makes it much easier for your family to navigate these challenges while grieving, without added financial or legal stress.
This article is a service of The Ambitious Legacy Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by using the link below to schedule a call with our Client Services Director, who will be able to guide you on scheduling your Legacy Planning Session.
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