Trust Administration & Probate Lawyers in Humble
Guiding Southeast Texas Residents Through Estate Planning
Navigating the complexities of trusts can be overwhelming. As a trustee, when your loved one passes away, it’s crucial to seek legal expertise to correctly interpret and execute their final desires. A probate lawyer can provide invaluable assistance in this regard, helping you settle any outstanding debts of your deceased family member and distribute their property and other assets.
Understanding the Role of a Probate Attorney
Also known as an estate or trust lawyer, a probate attorney assists a trustee during the probate process. Probate is a court-supervised procedure that validates a deceased person’s last will and testament. A probate lawyer can help you with several key tasks:
- Evaluating the worth of the deceased’s assets.
- Distributing property and the remaining estate.
- Settling remaining bills, taxes, and other unpaid balances.
- Providing advice on drafting a will or living trust.
The Probate Process Explained
The probate process requires you to file paperwork, gather an inventory of the deceased’s property and assets, address unsettled financial balances, and distribute the estate. It’s also essential to adhere to the trust administration or abide by the deceased’s wishes. This process is often lengthy and complex, necessitating the support of an experienced probate lawyer.
The initial step in the probate process involves filing a petition to commence the probate proceedings. This document must be filed in the county where the deceased individual resided. The petition officially appoints you as the executor of the deceased’s will. You will also need to file the deceased’s will and death certificate. Once these are completed, the court will schedule a hearing to confirm you as the executor of the estate. Upon approval, you will be authorized to make decisions regarding the deceased’s estate.
The subsequent step requires you to notify all creditors and beneficiaries of the deceased person’s passing. In Texas, the executor is expected to publish a notice for the creditors in a newspaper.
The next stage involves the executor compiling an inventory of the estate’s assets, which must be presented to the court. Estate assets may comprise:
- Real estate
- Retirement accounts
- Stocks and bonds
- Bank accounts
- Personal belongings (pets, art, jewelry, vehicles, etc.)
The fourth phase involves addressing any outstanding bills and debt, including rent, subscriptions, car payments, among others. These debts should be settled using funds from the estate.
Finally, the remaining assets are distributed to the rightful beneficiaries, and a request is made to close the estate.
