After laying a loved one to rest, many Texas residents may wonder how the remaining affairs of the estate will be handled. Probate administration is necessary for many estates, and this process allows for important endeavors related to the remaining estate to be addressed, including distributing property. Many beneficiaries often wonder when they will obtain their bequests, but it can differ depending on the type of property.
Some assets do not have to go through the probate process, which means that beneficiaries can obtain that property more quickly than probated assets. Some assets that do not go through probate include payable on death or transfer on death accounts, trusts and jointly owned property with rights of survivorship. Typically, these assets pass to the beneficiary soon after the initial owner’s passing.
Of course, other assets can take longer to receive as they go through probate because the distribution of assets is typically one of the final steps of the sometimes lengthy process. Personal property, real estate, accounts without TOD designations and assets without named beneficiaries typically go through probate. As a result, beneficiaries may need to settle in for the wait before they receive their bequests.
Probate administration can be a difficult process to complete in some cases. Still, beneficiaries have the right to remain in the know throughout the process. If individuals are concerned that the proceedings are taking too long or that executors are not properly handling their duties, they may wish to discuss these concerns with Texas probate attorneys who can provide reliable information about the process.