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.…
Category: Probate Law
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…
Can Family Feuds Stop You From Being an Executor?
The executor or personal representative has a lot of say in a Texas probate case. Absent limitations in the will, the independent executor has a lot of power. They can do everything from deciding what property is sold and kept, what property is distributed and when, and what the value of the property is that…
Probate Court Reversed for Insufficient Notice of Hearing
Probate cases are handled by a number of different courts in Texas. This can include statutory probate courts, county courts, and even district courts. Regardless of the type of court, one thing holds constant: the court is busy. Most courts in Texas have high caseloads. This is true of statutory probate courts in the largest…
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…
How to Challenge the Validity of Life Insurance Beneficiary Designations
What happens when there is a dispute between parties regarding the validity of a life insurance beneficiary designation? This scenario raises complex legal questions surrounding conflicting claims and the rightful entitlement to life insurance proceeds. The solution lies within the realm of “interpleader” lawsuits. These legal actions offer a remedy when parties notify the life…
Case Study: Accessing a Bank Account
This case study involves a widow who was seeking assistance to access her late husband’s bank accounts. Despite presenting an affidavit of death and a death certificate and being the successor on the account, she was told by the bank that she needed a letter testamentary to access the account. This situation was complicated by…
What Happens if a Will is Declared Invalid?
When a person passes away, their will typically outlines the distribution of their estate. However, there may be instances where a will is declared invalid due to a variety of reasons such as lack of testamentary capacity, undue influence, or improper execution. When this occurs, the distribution of the decedent’s estate becomes a complex process.…