Texas residents who pass away generally need to have their estate go through probate law. Certain assets that list specific beneficiaries such as life insurance policies or jointly-held assets like a home owned by a married couple do not need to go through probate if the beneficiary or other joint owner hasn’t passed. Other personal property assets would require a probate process. Texas residents should hire an attorney to assist with probate law in Waxahachie, TX.
What Is Probate?
When a person passes, they leave behind assets that need to be distributed. The probate process involves distributing the assets to the people they now belong to. This also involves paying any of the final debts and expenses a deceased person has before those assets are disposed of through sale or through giving to the beneficiaries.
Types of Probate Administration in Texas
Texas has two types of probate situations. An independent administration is less costly and can be used when a will specifically declares the executor to be independent. Alternately, if the will does not specifically state an independent executor, it can still happen if all of the beneficiaries agree with it. An independent executor must operate in the best interest of the estate, but does not need specific court approval for every single transaction. That can save time and money during the probate process. A dependent administration would cost more because the executor would need to seek court approval for most transactions.
When to Hire an Attorney
In many circumstances, a will can be probated without the help of an attorney. However, if the will is contested or family members are arguing about the disposition of assets, a lawyer can help sort everything out. An attorney can also be of assistance if the estate is unable to fully pay the deceased’s debts or if the estate contains a business.
When a loved one passes away, the family should hire an attorney to help with probate law in Waxahachie, TX. The family can have peace of mind knowing that the estate will properly go through the probate process and that assets will be distributed in a way consistent with the deceased loved one’s intent.
For more information about Texas probate law or to schedule a free consultation, contact Mallios & Associates PC at mallioslaw.com.
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