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”
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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”
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”
Passing title by affidavit of heirship
CraveyLaw Memo by Robin T. Cravey Sometimes, when a family member dies, there doesn’t seem to be any urgent need to settle their estate through the probate courts. The family may go on as usual until years have passed. If more than four years pass, then the courts cannot establish an administration on the estate, and passingContinue reading “Passing title by affidavit of heirship”
Paying claims against the estate
Paying claims against the estate is a basic duty of the executor or administrator. These claims include the debts of the decedent as well as expenses of administration. Texas law sets out rules and priorities for how the claims should be paid. (See Texas Estates Code chapter 355.) General rules for claims 1. Don’t pay any claim thatContinue reading “Paying claims against the estate”
The Estate Executor’s Powers & Duties
The powers and duties are broad and deep, and begin as soon as Letters Testamentary have been issued. The executor is required to use prudence and ordinary diligence in administering the estate. This is a brief checklist of the executor’s powers and duties.
Real Estate sales documents
Generally, a real estate sale begins with a contract and ends with a deed. The deed fulfills the contract, and the contract is merged into the deed. A Real Estate Sales Contract 1. Is negotiated between the parties. A buyer and seller negotiate about the purchase and sale of a piece of property. They negotiate about what conditionsContinue reading “Real Estate sales documents”
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