In Texas and across the U.S., it is difficult to lose a loved one. The grieving process can become even more difficult when an individual is chosen as an executor or beneficiary for a deceased loved one’s estate. This estate is made up of the deceased person’s net assets and may include investments, real estate properties, businesses, bank accounts and other items that person owned during his or her life.
The administration of a deceased estate can require a lot of consideration as it could create complications and stress within a family. Before the deceased estate can be sold, all debts associated with the estate must be resolved. After debts are resolved on the estate, an executor may sell remaining assets, assuming he or she has received a Grant of Probate from the court. The Grant of Probate officially authorizes the executor to manage the deceased estate based on the will of the deceased. In cases where a family member or friend is not an executor of the deceased estate and wishes to sell an asset from the estate, that family member or friend will need to get permission from the executor.
In cases where a deceased person has no will, the deceased estate will need to go through a court as part of the probate administration process. This process can be lengthy and may take months or years before the estate ownership can be finalized.
When a loved one dies, litigation among family members can be draining from both a personal and financial perspective, especially if the deceased did not leave a will behind. A probate litigation professional may help make this process easier on family members. An attorney may help keep a family’s best interests at heart while advising against strategies that are potentially damaging.