An Estate Lawyer Can Help with Probate and Estate Administration
Losing a loved one is one of life’s most difficult experiences. Amid grief and the challenge of moving forward, many families also face the practical question of what to do with their loved one’s assets and debts. Whether your loved one had an estate plan in place or not, N Thatcher Law can help you navigate the probate and estate administration process with care and confidence.
Appointing an Executor or Estate Administrator
The first step in settling an estate is appointing someone to manage it. This person is known as an executor if the deceased left a valid will, or an administrator if there is no will.
The executor or administrator plays a vital role:
- Identifying and gathering assets
- Notifying heirs, creditors, and other interested parties
- Paying debts and taxes
- Distributing the remaining assets according to the will or Texas law if there is no will
Here’s how the process typically works:
- If a valid will names an executor: The named executor files the will, a death certificate, and a petition to open probate. If the court accepts the will as valid, the named executor is authorized to act.
- If a will does not name an executor: Someone may petition the court to serve.
- If the named executor cannot serve: If the named executor is unwilling, unable, or disqualified, the court can appoint another person — usually an heir — to serve.
- If the will is invalid: If the court finds the will invalid — for example, if it does not meet legal requirements or is successfully challenged — the court will appoint an administrator as if there were no will.
- If there is no will: The court appoints an administrator. Texas law sets the order of priority for who may serve.
In many cases, the executor or administrator must post a bond to protect the estate’s beneficiaries. Even if a will waives this requirement, a judge may still require a bond if disputes arise.
The executor or administrator has no authority to act until officially appointed by the probate court in the county where the deceased lived. Once appointed, the court issues Letters Testamentary (for an executor) or Letters of Administration (for an administrator).
Executor and Administrator Responsibilities
Serving as an executor or administrator comes with significant responsibilities, including:
- Taking control of assets: Securing real estate, vehicles, bank accounts, and other property.
- Managing the estate: Paying bills, maintaining insurance, and safeguarding property.
- Paying debts: Settling valid claims, such as credit card balances, loans, or unpaid taxes.
- Distributing assets: After debts and expenses are paid, distributing what remains according to the will or, if there is none, according to state law.
Settling an estate can be complex, especially for those unfamiliar with the process. The good news is you don’t have to manage it alone. N Thatcher Law guides executors and administrators through each step, helping ensure that you fulfill your duties properly and efficiently.
Fiduciary Duty of Executors and Administrators
Executors and administrators have a fiduciary duty to act in the best interests of the estate and its beneficiaries. They must:
- Be fair and impartial
- Keep beneficiaries informed
- Manage the estate prudently and transparently
Failing to uphold this duty can result in legal consequences, including personal liability for mistakes or financial losses. Our team can help you avoid costly missteps and ensure your legal obligations are met.
What Is Probate — And When Is It Required?
Probate is the legal process of validating a will and carrying out its terms under court supervision. Probate is required when assets are titled solely in the decedent’s name and have no designated beneficiary. For example, a bank account in only the deceased’s name typically cannot be accessed until probate is opened and the executor has court authority. Remember, the executor has no legal authority until the court grants it.
Executor Responsibilities During Probate
An executor’s specific duties may include:
- Filing the probate petition, will, and death certificate with the court
- Inventorying all assets that pass under the will
- Collecting and managing estate assets
- Paying valid debts and expenses of administration
- Filing and paying applicable taxes
- Distributing remaining assets to beneficiaries
- Maintaining accurate records and accounting to the court when required
Speak with an Experienced Estate Lawyer
Whether you’re planning for the future or facing the task of settling a loved one’s estate, N Thatcher Law is here to help. We offer flexible meeting options in person or via Zoom, FaceTime, or other video conferencing tools. Let us guide you through the process with clear advice and compassionate support.
Contact us today to schedule a consultation.