In University Park, Texas, probate is a legal procedure that a court must go through before giving effect to a will. Before putting a will into effect, a court has to determine that it is valid.
As part of this procedure, the court in University Park, Texas has many important responsibilities. Most importantly, it has to decide if the will is valid, and consider evidence that it is not (if any such evidence exists). The probate court then has to ensure that the property is distributed in an orderly manner, as close to the terms of the will (assuming it is valid) as possible.
The executor of the estate is often named in the will. If not, the probate court in University Park, Texas will name will appoint a person to serve as executor. This is normally the person who stands to inherit the most under the will.
The executor is the person who initiates probate proceedings. The person who stands to inherit the most from the will is normally appointed the executor, because they will have the most incentive to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in University Park, Texas
The executor has many duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be completed before the will takes effect.
Furthermore, it's the executor's job to notify all interested parties that the person who made the will has died. "Interested parties" are typically people who are named in the will, or who would inherit the estate if the decedent had died without a will.
If the decedent was even moderately well-off financially, it's likely that they'll have considerable amounts of both debts and assets. The executor is tasked with formulating an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the required court papers, and, if necessary, hiring an attorney for assistance. If the estate is large, and the executor stands to inherit a great deal of money once this process is fulfilled, they'll probably find it to be worth the time and expense.
How Can A University Park, Texas Lawyer Help?
Because of the intricacies involved in probate, it would be a brilliant idea to consult with and retain an University Park, Texas attorney who specializes in probate, especially if you are the executor of an estate.