Probate and Your Estate
What is Texas Probate?
The term “probate” means the court’s approval of a decedent’s will. However, a will does not always exist (or is not available) and thus laws are established in Texas to deal with the orderly distribution of assets to those who are entitled to inherit them, generally after being reviewed or monitored by a judge or other court-appointed person. The time and proof required for probating an estate varies on a number of factors, and is most-efficiently resolved with a well-drafted and executed will. Having a will does not mean probate is unnecessary, however. While having a Will might make the process simpler, probate is still required for every estate in order to transfer the decedent’s property and resolve their debts.
Estate Preparation
Each individual should prepare himself or herself for the eventual health issues and ultimate passing and assist the remaining family with many important decisions regarding their estate. Our firm is equipped to handle the necessary preparation of Wills, Trusts, Medical Powers of Attorney, Physician’s Directives and General Durable Powers of Attorney, as well as advising our clients on the best ways to avoid any potential pitfalls that may arise in the probate process.
What is Involved in Settling an Estate?
No matter the size or status of the property in the estate, each estate must undergo the following probate process:
- The Will is accepted for probate, or the intestate (lacking a Will) estate has its heirs determined
- An administrator of the estate is appointed by the court (typically the surviving spouse or a family member of the decedent)
- The administrator gathers the assets and debts of the estate and provides an inventory to the court.
- The administrator uses estate funds to pay any taxes or debts that the estate may owe (including costs of the probate proceedings), and
- The administrator distributes the remaining property to the rightful beneficiaries of the estate.
While it is possible to settle a deceased love one’s estate without the necessity of an attorney, an attorney can help tremendously in ensuring that these steps are made timely and correctly so that you do not run afoul of the Texas Estates Code requirements. An attorney can also help you draft the proper documents to transfer the decedent’s property from the estate to its beneficiaries.
How Long Does It Take to Settle an Estate in Texas?
Generally, the minimum time it takes to settle an estate is typically two months to a year; possibly more if the estate requires real property such as a home to be sold and the buyer to close escrow. The time it takes to settle an estate depends on the size and complexity of the property in the estate and on the cooperation of the family members. In some cases, small estates involving only a single piece of property or having no debts may even avoid a formal probate when the total assets are small in value. Conversely, cases involving family members protesting the validity of the Will and/or their share of the estate can last well over a year. In either scenario, an attorney can help you use Texas probate laws to resolve these difficult matters in this difficult time.