Probate is the name given to the lawful distribution of an estate according to the term of a will. We will explain the three types of probate that apply in Texas.
Probate in Houston Texas, has the potential to be a bit more complicated than in the rest of the US as there are three different types of probate administration. The level of court supervision is what generally separates each type. Each has its own advantages and disadvantages, deciding which type will be of benefit to your particular circumstance, and are best done with the aid of experienced probate attorneys. Here is a brief outline of each type.
This form of private involves the highest levels of court supervision. The administrator will need to obtain the court’s permission before they can enter into almost all transactions. They will need to ask the courts permission for everything from selling property to pay the estate’s debts. Before choosing this type of probate, you should consider the following.
In our experience this type of probate is suitable if you expect there to be significant conflict among beneficiaries and heirs. This type of probate offers the highest level of protection to the administrators of your will.
If you enter this type of administration, it will make your creditors follow strict procedures to submit claims. If a creditor is either late in submitting a claim or they enter an incorrect one, claims will be considered null and void.
This bond is designed to offer protection to both the creditors and beneficiaries of the estate. The administrator is released from their bond one the administration is closed.
Because of the repeated need to submit applications to the court, expenses and fees can run higher than other types of probate in Texas.
By far, independent administration is the most conventional type of probate in Houston Texas. It is far less expensive than dependent administration. This is chiefly because the administrator is not obliged to enter applications to the court as often; also they are usually not obliged to enter a bond. This type of administration can be entered into by consent of the beneficiaries or heirs, or you can request it in your will. Some things you should consider before selecting this type probate.
This type of probate can be cleared far more quickly.
The administrator of the probate has a lot more power than with dependent probate, which means they will have to charge the estate far fewer fees.
This type of probate is only found in Texas. No administrator or executor will be appointed to distribute your property. Once your will has been certified by the court, all property is simply transferred to the intended beneficiaries. Essentially the courts act as the administrator of your probate. Some things to consider.
Is really only suitable when you have only real estate to pass on. Bank accounts etc. are far too complicated to be included in this type of probate.
If you have any questions about probate in Houston Texas, please do not hesitate to contact us.