What if your relative died without a will, but her assets
are not very complicated, and you’d rather not spend a lot of money or time
going through probate?
In Texas, you may be able to use a special form of probate.
In order to qualify, the following must be true:
- At least 30 days have elapsed since the date of death;
- The deceased died without a will;
- The total gross value of the deceased’s property/assets is
$50,000 or less (not including the deceased’s homestead or certain exempt
property); and
- The only real property owned by the deceased was her
homestead.
In this context, “exempt property” typically means personal
property worth $30,000 or less, so the deceased’s separate property and
one-half share of any community property must not exceed the $50,000 limit.
Several other conditions apply, but if the foregoing is true, you may be able
to avoid formal probate administration through the procedure known as a Small
Estate Affidavit.
The affidavit must comply with Section 137 of the Texas
Probate Code. The probate court will
review the affidavit and, if it is approved, will enter an Order – usually
without a hearing – approving the Small Estate Affidavit, which is then
recorded as an official public record. Once approved and records, the Small
Estate Affidavit serves to transfer ownership of the deceased’s assets to the
persons identified as distributes in the affidavit.
Like the Texas Muniment of Title procedure, the court does
not appoint anyone to act as an executor or other representative of the
deceased’s estate. However, because the
court’s order lists specific distributees who will receive the deceased’s
property, most stock brokerage firms, banks, and similar companies appear to
recognize the validity of this more simplified probate procedure.
By: Cynthia W. Veidt
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