What Is Muniment Of Title, As It Relates To Probate, In Texas?
Muniment of Title is a type of alternate probate procedure you can use if the only asset that needs to be taken care of is a homestead house. There have been recent changes in the laws to make it a little more of a valid option than it used to be. It is slightly less costly, but also less comprehensive than probate.
Going through probate will protect against trouble accessing additional unknown assets that may pop up down the road. If you’ve completed a muniment, you may not be able to or may end up having to go through additional work to gain access to the asset. For example, for someone with an insurance policy or a bank account that the family lost track of, a muniment would not address this forgotten account. The cost savings for a muniment are only about a sixth of the overall cost of probate. If you’re paying $3,000 for probate, the cost for muniment may only be $2,500 or $2,000. For the additional cost of probate, you will have discovered and dealt with all assets, whereas in muniment, you will have to pay additional fees to reopen a case later if additional assets are discovered.
What Are Letters Testamentary, As It Relates To Probate, In Texas?
Letters Testamentary, or letters of administration, is what gives the executor or administrator the power to act as if they are the decedent. The decedent is no longer there to sign their name or make decisions, so the court must give someone power to get things done in their place. The Letters Testamentary is a legal document that is provided to order the release of assets to the executor or administrator.
Is There A Simpler Way Than Probate For Assets To Be Transferred If Assets Of The Deceased Are Minimal?
Each case depends on the assets, but full probate is the only route to guarantee the outcome of the asset transfer. There are alternatives routes, but they may not be accepted by all third parties. If it’s just a car, you can get the title transferred through an affidavit of heirship with the DMV or a small estate affidavit. With any alternate route, you must have every heir sign a document agreeing to the transfer. Heirs must deal with the transfer collaboratively.
Why Do I Need A Probate Attorney To Guide Me Through The Process In Texas?
By law, you must have an attorney to guide you through probate because the heirs are not the estate, and the estate needs a representative. The court requires an attorney there to make sure things are getting done properly. You can do a small estate affidavit without an attorney, but you can’t get the determination of heirship, administration, or probate with the will without an attorney.
In Texas, Do Courts Always Require An Attorney To Probate A Will?
Yes, in Texas an attorney is required to represent the estate. The estate can’t represent itself and the heirs are not the same as the estate, so an attorney must be there to represent the estate.
For more information on Probate Laws in Texas, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (512) 829-6100 today.