Are you expecting to collect an inheritance in Texas? You’ll probably have to wait several months while the decedent’s estate closes. Texas probate is a legal process that validates the deceased person’s will or determines who inherits if there’s no will, settles any remaining debts and taxes, and finally distributes the remaining assets to beneficiaries or heirs.
How does the probate process work, can families avoid it, and what can you do if it’s taking too long?
Do All Texas Estates Go Through Probate?
As a rule, yes. However, per the Texas Estates Code, estates may bypass probate if the decedent left no will and the estate (excluding the homestead) is worth under $75,000 and can clear any outstanding debts. In this case, the heirs can file a small estate affidavit, allowing them to collect the assets in as little as 30 days following the decedent’s passing.
However, probate is the default option for Texas estates. Usually, one of the statutory probate courts will handle the process (look up court jurisdiction maps here). Will executors have up to four years to file for probate, but most families start the process soon after the decedent’s passing.
Note that even when an estate must undergo probate, some assets, like those jointly owned or held in a living trust, may be exempt.
Does Probate Work Differently If the Decedent Left a Will?
Texas probate is usually simpler and quicker if the decedent makes a clear, valid will that names an executor to handle estate closure. If there’s no such will, the court appoints an executor, and assets pass to heirs according to Texas laws of intestate succession.
For example, if the decedent had a spouse but no children, the spouse would inherit the entire estate. If the decedent left a spouse and children in common with their spouse, the spouse inherits all community property, one-third of the decedent’s personal separate property, plus a lifetime right to use the shared primary home and one-third of any other real estate. The rest goes to the children.
Avoiding Probate in Texas
Many Texas residents use smart estate planning to help their families avoid probate after their passing. One common way of doing this is transferring assets to a revocable living trust.
A trust can hold any type of assets, including money, stocks, bonds, and real property. Once an asset passes into trust ownership, legally, it’s no longer the personal property of the grantor (trust creator) and is thus exempt from probate.
The grantor can still access, manage, and transfer property held in a revocable trust during their lifetime. Upon their passing, a pre-appointed person becomes the trustee and distributes assets to beneficiaries according to trust terms.
Other methods to keep assets out of probate include joint ownership, transfer-of-death titles, and accounts with designated beneficiaries.
Simplifying Probate in Texas
In some situations, Texas estates may qualify for muniment of title, essentially a simpler and quicker probate process that allows assets to pass straight to beneficiaries as quickly as within 30 days.
Muniment of title usually works for small, straightforward estates with no debts except a mortgage. This option only applies if the decedent left a valid will and never claimed Medicaid. If the decedent left no will or has an unpaid credit card balance or other debts, the estate must undergo the full administration process.
One of the beneficiaries can apply for muniment of title through a local court. During the hearing that follows, a judge will decide whether to approve the request.
What Could Delay Probate?
Unless your family member’s estate qualifies for simplified probate, Texas probate will usually take at least six months. In many cases, probate takes a year or longer. You may expect delays in probate if:
- There’s no valid will, or one of the beneficiaries disputes the will
- The decedent’s estate is very large, complex, or heavily encumbered with taxes or debt
- The will executor neglects their duties
- Some of the beneficiaries disagree with the executor’s appointment and request someone else to administer the estate
What Happens During Texas Probate?
The typical steps of Texas probate are as follows:
- Filing the will in the decedent’s county of residence or filing for probate directly if there’s no will. Once the court confirms the will is valid, it will grant the executor legal authority to proceed with estate administration.
- Inventorying and valuation of assets. Once the executor completes this task, they’ll submit a full list of the decedent’s assets, debts, and outstanding taxes to the court.
- Notifying beneficiaries and creditors. The executor must locate the beneficiaries or heirs and give creditors an official notice of the decedent’s passing so they can file debt claims. The creditors must do so within six months of the executor’s appointment or within four months of receiving the notice of death.
- Paying off outstanding debts and taxes, including property tax, mortgage payments, and attorney fees. The executor’s compensation will also come out of estate funds.
- Distributing remaining assets to beneficiaries and closing the estate.
What If You Need To Access Your Inheritance Faster?
Even if Texas probate goes smoothly, months will pass before you can collect your inheritance. In some cases, like delays in locating heirs or disputes over the will, probate can take years. What can you do if you counted on your inheritance to fund expenses like a house move or vehicle upgrade?
In this situation, you may consider applying for an inheritance advance. This is a type of non-recourse, secure funding you’d only need to pay back when you receive your inheritance. If you gain approval for funding, you can access cash quickly and easily, as soon as within one day.
Call Rockpoint Probate Funding for Quick Funding
Do you need funds right now while waiting for your Texas probate case to settle? Contact us at Rockpoint Probate Funding for quick, risk-free funding against your pending inheritance, with no credit checks or collateral requirements.
Call (888) 263-8588 or fill out a quick online form to apply for inheritance funding.
