Bryan-College Station Probate Attorney Explains Independent Administration
Here, a Bryan-College Station probate attorney will explain general aspects of independent administration, which is a unique aspect ofTexasestate administration law and distinct from dependent administration.
Independent administrators have the same responsibilities to the beneficiaries and heirs that a dependent administrator has: (1) collecting the assets; (2) paying off debts; and (3) distributing assets according to the will orTexaslaw. There are two ways a person can become an independent administrator: (1) the decedent can specifically state in his will that his executor should be independent; or (2) all the heirs or beneficiaries under the will can agree to allow the executor to act as an independent administrator.
The independent administrator does not have to post a bond and does not have to obtain court approval before performing his duties. That means that the probate process is less expensive than in a dependent administration. The estate does not have to pay the premium for the bond, the attorney fees for the administrator, or the additional fees associated with having to obtain court approval for performing actions related to the probate process.
Some Considerations To Be Aware Of
Even though independent administration is quicker and less expensive than dependent administration, it is not always the best option for an estate. As any experienced Bryan-College Station probate lawyer will tell you, an independent administration leaves the estate more vulnerable to attack from creditors. This is because it is easier for creditors to obtain payment of debts.
Additionally, if it appears there will be a lot of fighting amongst the beneficiaries of an estate, it may be better to have a dependent administrator so that the court can resolve difficult issues and avoid litigation against the administrator for unpopular decisions. If you do not foresee creditors or battling beneficiaries being a problem and want to have a quicker and less expensive probate then an independent administration might be the way to go.
If you have questions about what type of administration is best for your estate, contact an experienced Bryan-College Station probate attorney at Peterson Law Group at (979)703-7014 for an initial consultation or fill out our online contact form.