Suing An Estate Executor For Dummies In Travis
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Ordinarily, an application to probate a will must be filed within four (4) years of the date of death of the decedent. Also, under normal circumstances, letters testamentary or letters of administration cannot be authorized more than four (4) years after the date of death of the decedent.
An estate beneficiary has a right to sue the executor or administrator if they are not competently doing their job or are engaged in fiduciary misconduct.
Executor's Role and Timeline for Asset Distribution. In Texas, an executor is given up to three years from their court appointment to distribute assets, excluding those allocated to creditors.
An executor has a fiduciary duty to always act in the best interest of the estate. This means that if an executor does not act in the best interest of the estate, they may be subject to court intervention and penalties for a breach of their fiduciary duty.
This person will manage and distribute the deceased person's assets. The executor has a fiduciary duty to act in the best interests of the beneficiaries and handle all matters related to the estate with honesty, loyalty, and care.
If a creditor wishes to file a claim against the estate, they must do so in writing and provide documentation of the debt. The claim must be filed with the probate court and a copy must be sent to the executor or administrator of the estate.
A fiduciary duty is a legal obligation of one party to act in the best interests of another. Fiduciaries are held to specific standards of care and loyalty when dealing with the concerns of those to whom they owe a duty to.
As an Executor, what you cannot do is go against the terms of the Will, Breach Fiduciary duty, fail to act, self-deal, embezzle, intentionally or unintentionally through neglect harm the estate, and cannot do threats to beneficiaries and heirs.
Under Texas law, the paperwork to begin a probate, which includes applications and the will, must be filed in court within four years after the testator died.
In Texas, if an estate's value exceeds $75,000, it generally must go through probate because the law aims to ensure that significant assets are appropriately managed and distributed under court supervision. The reason an estate over $75,000 must go through probate is to protect the rights of heirs and creditors.
