The foreclosure process can be complex. It can be even more complex when the person who takes out a mortgage dies and the property passes to their beneficiaries or heirs. This can raise questions about the legal and financial responsibilities of both the inheritors of the property and the lender. Who is responsible for the…
Tag: probate administration
When Can an Executor Be Removed for Conflicts of Interest?
The probate process involves settling the decedent’s financial obligations, paying debts and taxes, identifying and appraising assets, and distributing the remaining assets to the rightful beneficiaries or heirs. This is a multifaceted process that involves a careful balance of probate laws, family relationships, beneficiary interests, and executor responsibilities. One particularly crucial aspect of the probate…
Case Study: Home Ownership After a Spouse Dies Without a Will
In Dallas, Texas, Jimmy’s life took a complicated turn when he lost his wife and was faced with navigating the nuances of Texas estate law. His stepson Bob, absent for nearly a decade, unexpectedly inherited a 50% stake in the home Jimmy thought was fully his. Texas Estates Code provides guidelines for what happens when…
Using the Texas Probate Laws to Avoid a Foreclosure
What happens if someone owns real estate that is subject to a mortgage and the mortgage goes unpaid because they died? Can the bank foreclose on the property? If so, what steps should the surviving family members take to protect the property? The recent Midfirst Bank v. Robbinson, No. 3:22-CV-0333-M-BH (N.D. Tex. 2023) case provides…
What Happens to a Personal Guarantee When a Business Owner Dies?
The banks invariably require the owner of small businesses to sign a personal guarantee to secure a loan. But what happens to the personal guarantee when the owner dies and the business defaults on the loan? If the business defaults on the loan, the decedent’s estate can be on the hook to repay the loan.…
How Does Probate Work in Texas
Probate in Texas should be viewed as a process. It is a process that has several steps that have to be completed. The end goal of these steps is to resolve family and other disputes and identify, manage, and distribute the decedent’s property. With these goals in mind, here is a very general explanation of…
How Much Does an Estate Have to be Worth to Go to Probate in Texas?
There is no set limit for when probate administration is required or warranted in Texas. While some large estates may not have to go through probate, some small estates do. Alongside other factors such as family disputes or complex financial arrangements, the value of the estate and the nature of its assets play a significant…
Executor Cannot Resign Without Notice & Consent of Will Distributees
Probate cases can be challenging given the different parties involved. In some cases, family members who have lifetime differences and long-running disputes are forced to work together to wind up the decedent’s last affairs. These disputes often end up in probate court. This can result in disputes and overreaching. The recent Estate of Allen, 658…
Inheritance with No Will in Texas
Dealing with the loss of a loved one is never easy, and it can be even more challenging when there is no clear plan for their assets. In Texas, when someone passes away without a will, their assets are subject to the state’s intestacy laws. This means that the court will distribute the assets according…