When a person dies and leaves property that has not been transferred to another person by way of a Trust, joint ownership with a right of survivorship, or direct payments to Beneficiaries (such as from insurance policies or retirement accounts), the property will be distributed through probate.
Probate is the process in which a court oversees the payment of a deceased person’s debts and the distribution of his or her assets. The court’s role is to facilitate this process and protect, when necessary, the interests of all creditors and Beneficiaries of the estate.
The main disadvantage of dying intestate is that the deceased doesn't get to decide who will receive his or her property. If the property is intended for close family members, that might not be a big problem. Unfortunately, there is another problem as well; intestate estates almost always end up being probated, and much of the assets of the estate that could have gone to family members will be used to pay for probate costs. It is possible to avoid a dependent administration in an intestate estate, but you will likely need the help of an experienced Texas probate attorney, such as those at Michael J. Whitten & Associates.
Call us today to set up an appointment to help avoid probate costs. |
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