When settling the Texas estate of a recently deceased individual, someone needs to be in charge. There are many duties and obligations to address during probate administration, and it is important that those activities are handled correctly. This responsibility falls to the executor of the estate.
Commonly, an executor is a family member, attorney or financial professional who oversees the completion of probate. Before his or her passing, the testator has the ability to name a person to this position in the will. If the testator does not make this appointment, the court will consider available options and appoint a representative, which often falls to the surviving spouse or an adult child. The individual chosen must be ready to tackle the difficult process that is probate.
Much of the difficulty of probate stems from the numerous tasks that need addressing and the important nature of each of those tasks. For example, the executor will need to pay outstanding debts associated with the estate as well as final taxes. This person will also need to close remaining financial accounts, cancel credit cards and, when those and other essential tasks are complete, distribute assets to beneficiaries.
Taking on the role of executor should not be done lightly because probate administration is an arduous process to complete. Complications can arise, assets can be complex to address and numerous other factors could make settling an estate a challenge. Luckily, Texas executors do not have to trudge through the process on their own as they can enlist the help of legal professionals while completing the proceedings.