Probate Process in Texas:
Probate is a process where a deceased persons assets are distributed to their heirs or beneficiaries. With a will, this process is done by admitting the will thus validating it and appointing an executor. This executor holds the key to distributing assets and carrying out the wised of the will by receiving letters testamentary. Most entities will not allow the transfer of assets to beneficiaries without letters testamentary or administration.
A person who dies without a will, the State of Texas intestacy laws come into play. If the decedent has children from a marriage outside of his current marriage that existed at time of death, they would take half of the deceased person’s community assets and all separate property assets. A will provides more control and is less expensive than probate of estate of a person who dies without a will.
In Texas, an estate proceeding to obtain letters of testamentary or administration must be filed within four years of the death of the decedent. The probate process generally requires an inventory of the assets of the estate, but in the case where the probate is of a will, an affidavit can be filed instead of an inventory where there are no unsecured creditors.
One of the pitfalls of not probating an estate is where one spouses dies and leaves the assets to the surviving spouse and probates have to be done on both spouses to transfer the assets to the beneficiaries.
Texas does have a lot of means to transfer assets without probate. The decedent can designate beneficiaries on their assets. The only two assets you can not designate beneficiaries on are real property and stocks in the deceased person’s name. With real property, a transfer on death deed can be done thus transferring the land at death to beneficiaries. This deed must be filed before death to be effective.
