Estate Administration

Whether an estate plan has been created or not, the estate of a deceased individual will need to be managed and closed out. Generally, this includes taking an inventory of all assets, giving notice to all beneficiaries and creditors, paying the debts of the estate and making distributions to the beneficiaries in accordance with the estate plan or rules under Texas law.

Our services include:

Representing a beneficiaries’ interest in an estate administration
Assisting a Trustee or Administrator with their fiduciary responsibilities toward beneficiaries and/or the court.
Counseling heirs of a decedent determine to their rights under Texas intestacy law

Beneficiaries

Beneficiaries are those who are entitled to receive assets in an estate. Beneficiaries may receive a specific bequest such as a family heirloom or a general bequest such as 50% of the remainder of the estate. If an individual passes away without a will, beneficiaries are still identified under Texas law. These beneficiaries are usually the spouse and children of the person who passed away.

Trustee/Administrator/Personal Representative

In these roles, an individual carries out the activities in an estate administration. They may have periodic reporting requirements to a trustor, beneficiary or the court. They may be liable for failing to complete certain responsibilities. An estate attorney can guide individuals through the steps involved in their particular situation and ensure their duties have been met.

Probate vs. Non-Probate Assets

It is important to understand the difference between assets that are subject to probate proceedings and assets that are not. Generally, non-probate assets include assets held in trust, accounts with designated beneficiaries, and property held as joint tenants with right of survivorship. Upon the death, individual non-probate assets are transferred to a beneficiary or joint owner without oversight or approval from a probate court – this allows for assets to be distributed much quicker and, usually, with less cost associated with their transfer. Additionally, for Medicaid purposes, non-probate assets in Texas are not subject to recovery by the state under the Medicaid Estate Recovery Program.

Frequently Asked Questions

What is Estate Administration?

This is the process of inventorying assets, providing notice of the administration to all interested parties – including creditors, and ultimately the distribution of assets to beneficiaries.

TWhy do I need to think about administration when I am creating my estate plan?

Depending on how complex your estate is, you may want to see about avoiding probate by moving some assets into a trust. This will help avoid probate costs and potential delays in making distributions to your beneficiaries.

Also, you may be able to identify certain family dynamics that may result in issues during the administration of your estate. How you set up your estate plan may help to alleviate these concerns

I thought I had spent the time (and money) on a good estate plan, why do I need to be thinking about estate administration?

While you may have a good estate plan, you may be named as a trustee or administrator of another’s estate, trust, or will. In those roles you have certain responsibilities to complete. You can be held liable if you fail to perform those duties. You may also be the beneficiary of another’s estate, will or trust. As a beneficiary you have certain rights that you may need to exercise if certain circumstances arise.

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