Many Texas residents may think that after they die, the executor of their estate will distribute the assets and then everything will be finished. However, sometimes things are not this simple. A will often has to go through probate before the executor can distribute the assets.
FindLaw says that probate refers to the distribution of property after a person dies. This is usually a process that takes place with the supervision of a court. Most of the time, a court makes sure that the estate pays any taxes and debts and manages disputes about the will or the estate. Additionally, a court typically collects the property of the deceased and makes sure it gets handed out to the beneficiaries. Many people may wonder why probate is necessary if someone has a will. However, one of the things a probate court determines is whether the will meets the standards of Texas law. Additionally, sometimes people may question the validity of the will, and a probate court can help resolve these disagreements.
Sometimes people may think that the probate process will not take long to complete. According to MoneyCrashers.com, it may take several months to settle the estate. Most of the time, the beneficiaries cannot receive their assets until the probate process is complete. This process may sometimes take longer if someone contests the will. This is because the heirs usually have to meet with court administrators so the court can determine whose testimony is valid.
Additionally, it is important for people to understand that probate may sometimes be costly. People usually have to pay court fees and other expenses. These costs are generally taken out of the estate. Most of the time, these expenses may range from 6% to 10% of the estate; however, probate may be more costly if someone contests the will or if there is no will at all. It is also important for people to remember that once an estate goes to a probate court, it becomes part of the public record. This means that members of the public can access documents about the estate.