When a person dies, the handling of the estate they leave behind is known as probate. In this way, every will or estate has to go through the probate process. However, a properly planned and executed will procedure can help even the largest and most complicated estates go through the probate and asset-dissemination process relatively quickly and smoothly.
If you are looking to ensure quickness and smoothness for your or a family member’s estate’s probate process, get in touch with the law professionals at our law firm by calling 817-285-2855 and scheduling an initial appointment.
What is the Probate Process in Texas?
We can break down the probate process in Texas simply;
- The initial appointment is where the executor or personal representative is assigned by the court or designated by the will.
- The evaluation and total accounting of the property within the deceased’s estate.
- Paying off all owed debts and taxes; liquidating any assets that need be to afford the debts owed.
- Distribution and dissemination of all assets to beneficiaries and, in the case of life estates, remaindermen.
What Factors into the Cost and Length of the Texas Probate Process?
Each estate’s probate process will play out differently, as no two situations are exactly alike. Factors that can lengthen the time and, therefore, the price of the probate process are;
- Complexity and size of the estate
- Contests of a Will’s legitimacy
- Presence of competent and experienced probate attorneys
- The deceased’s estate planning
- Various other factors
Along with the length of time, filing fees, court costs, attorney fees, surety bonds to protect the estate (as well as the interests of the beneficiaries and remaindermen), executor, or personal representation compensation are among further factors that can lengthen the process.
Do All Estates Go Through the Same Probate Process in Texas?
There are ways in Texas to ensure smoothness for your probate process or to determine whether or not your family is going to be stuck in legal battles for months.
The estate’s size can determine the probate process. When there is no will on an estate valued at less than $75,000, a small estate affidavit is used instead of the entire process.
The following can save time and money:
- Revocable living trusts
- Joint tenancy over the estate
- Transfer-on-death and payable-on-death policies are tied to the assets in the estate.
How Can I Finalize These Required Documents, and What if I Have Other Questions?
We have professionals standing by to help you through the process of probate; either walking you through it before it happens or helping you learn the proper responses to such a situation when you do not wish to suffer the long and arduous process. Call today at 817-285-2855 and schedule an initial appointment.