robincravey

Depositing money in the registry of the court

The administrator of an estate may find it necessary to pay out bequests or inheritances to a beneficiary or heir who is a minor or otherwise incapacitated. One solution is to deposit the funds in the Registry of the Court. 1. The administrator will pay the money to the county clerk, along with a document identifying the beneficiaryContinue reading “Depositing money in the registry of the court”

The Signing Ceremony

Once your Will is complete to your satisfaction, we will hold a signing ceremony in the office. You will come in with your two disinterested witnesses. Texas law requires that a will be “attested by two or more credible witnesses who are at least 14 years of age and who subscribe their names to the will inContinue reading “The Signing Ceremony”

Executor’s duties to the IRS

While Texas has no inheritance tax, and the federal estate tax applies only to multimillionaires, the executor of an estate still has duties toward the IRS. 1. The IRS publishes a general guide for executors: 2. Obtain a tax number for the estate, commonly known as the EIN. Generally, a bank will require a tax number before openingContinue reading “Executor’s duties to the IRS”

Wills & Wishes FAQ

Determination of heirship with administration

Here is a brief outline of the process for determining heirs and administering the estate of a Decedent, if there is no Will. 1. Attorney files an Application for Determination of Heirship and for Letters of Administration naming all heirs with the probate court.[i] The application must be accompanied by: 2. Interested parties must receive notice.[ii] 3. AttorneyContinue reading “Determination of heirship with administration”

Distribution of the Net Estate

Distribution of the net estate is just about the last and happiest duty of the executor or administrator. Even so, it must be done properly. 1. Distribution is only done after a long list of tasks has been completed: 2. The net estate is the sum total of assets left after all the steps listed above have beenContinue reading “Distribution of the Net Estate”

Affidavit in Lieu of the Estate Inventory

Within 90 days after receiving letters testamentary or letters of administration, the representative of the estate must file an Inventory, Appraisement, & List of Claims. This document must be signed under oath. Under certain conditions, the representative of the estate may file an affidavit in lieu of the inventory. The affidavit is due on the date theContinue reading “Affidavit in Lieu of the Estate Inventory”

Process for Probating a Will with a Dependent Executor

This is a brief outline of the process for probating the Will of a Decedent when the will does not specify an independent executor. The outline is not exhaustive, but it gives a general overview. 1. Attorney files an Application Probate of Will Produced in Court and for Letters Testamentary with the probate court.[i] The application mustContinue reading “Process for Probating a Will with a Dependent Executor”

Determination of heirship without administration

Here is a brief outline of the process for determining the heirs of a Decedent, if there is no Will. 1. Attorney files an Application for Determination of Heirship naming all heirs with the probate court. The application must be accompanied by: 2. Interested parties must receive notice. 3. Attorney asks all heirs to sign an agreement waivingContinue reading “Determination of heirship without administration”

Establishing heirs of an estate on an affidavit

Here is a brief outline of the process for establishing the heirs of a Decedent, by filing a small estate affidavit. No administration necessary 1. Where the decedent died intestate, no administration is necessary if the value of the estate assets is less than $75,000. Determining heirs 2. Attorney files with the probate court a Small EstateContinue reading “Establishing heirs of an estate on an affidavit”