Probate is a complicated subject; however, Texas provides some valuable options for estate administrators. For example, according to Estates Code Ch. 402 Sec. 402.002, the executor may act as an independent administrator without the court’s approval. This means you can largely avoid the probate process.
See below to learn more about independent administration and how to create one in your estate plan. Probate does not have to be a frustrating procedure for you or your family.
Independent administration simplifies the probate
The concept of independent administration is somewhat self-explanatory. Essentially an executor handles all the matters of inheritors and creditors for an estate without court supervision. This almost always saves money, time and frustration. The independent executor has the full authority to pay debts, sell a property and distribute assets to the beneficiaries. Additionally, the executor does not have to post a bond that protects the estate against losses. This can be either good or bad, depending on how well the executor handles the estate.
How to plan for an independent administration
Creating an independent administration is relatively simple if the deceased planned for it in their will. It is common for Texas estate plans to name an independent administrator to avoid a large percentage of the probate process. However, even if the will does not name an independent administrator, the executor can appeal to the court for independent administration if the beneficiaries agree.
There are various ways for estate plans to avoid probate or simplify the process. Start reviewing your estate plan today to ensure your beneficiaries receive the inheritance they deserve.