Why you might need a Texas Probate Attorney in Allen
When someone passes away, they may leave behind a number of assets. These can include personal belongings like investments or clothes as well as real estate holdings. It may therefore be necessary to appoint an executor who will be in charge of disbursing these items after the death has occurred to appointed beneficiaries. This is where a probate attorney in Texas or other areas can help.
As a licensed probate lawyer, we are well versed in probate laws in Texas. Our role is to guide the executor along the process and support them with any questions or difficult steps.
Some things we can help with include:
- Appraising the property of the person who passed away
- Identifying and securing that person’s assets
- Determining and paying if inheritance or estate taxes are owed
- Making final distributions after paying all bills and taxes
- Handling the proceeds from life insurance
- Preparing necessary court documents
Contact Us For More Info
When looking for an Allen, Texas probate attorney, Krupa Downs Law is licensed to provide clients with superior support with probate, guardianship, estate planning, and elder law concerns. Our services include the following:
It is important to choose an appropriate personal representative as soon as possible after someone has died. The first step in estate administration, often referred to as locating and distributing the assets from their lifetime, will then fall upon them. Once a personal representative is appointed, they are responsible for locating and distributing the estate. This is known as estate administration.
Our firm handles probate with or without a will, helping resolve the estate so that assets may be passed on to heirs and beneficiaries. Probate and estate administration may be handled differently depending on the case.
Wills, Trusts, and Estate Planning
Estate planning allows you to address the distribution of your estate as well as concerns such as limiting the taxation of your estate or setting up powers of attorney to protect you in case of incapacity. A thorough estate plan has the potential to protect you in life and after death, as well as to make the probate process as smooth as possible.
Krupa Downs Law, PLLC helps you create a will that protects you and your beneficiaries by naming an executor to settle the affairs of your estate. Your will also gives directions on how to distribute assets. Without a will, your belongings will be passed on in accordance with the Texas intestacy laws during probate.
Trusts are legal relationships in which your property is held by a third party known as a trustee. When you place your assets or personal property into a trust, it is taken out of your estate and placed into the trustee’s name. They are legally obligated to pass on those assets to your beneficiaries at the agreed-upon time. Trusts help protect your estate against taxation and creditors. They also guarantee that specific assets pass to your designated beneficiaries at predetermined times you select without probate.
Estate Administration and Probate in Texas
Muniment of Title Probate
For simple, straightforward estates, muniment of title probate may be a good choice. If your loved one passes away with a will, the will needs to be probated. With muniment of title probate, the court validates the will and passes on titles to the beneficiaries. This is best for small, simple estates with no bonds or publicly traded securities.
With dependent administration, the court oversees the probate process, and it makes sure that the estate is settled by the book. If there are disputes over the estate and debts to be paid, then dependent administration may be a good choice.
Small Estate Affidavits
Small estate affidavits are forms that help speed up the settlement of a small estate, so it moves through probate more quickly. It eliminates the need for a more formal probate process and is normally used when there is no will in place. To use a SEA, there must be less than $75,000 in property, excluding homestead and exempt property.
Learn more from an Allen Probate Attorney
Estate planning is a good way to protect your own interests as well as the legacy you wish to pass to your heirs and beneficiaries. Krupa Downs Law, PLLC, Allen, Texas probate attorney, has more information on how these different parts of an estate plan can help.