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He passed less than two weeks ago. We assume the funeral home would have his death certificate since he was buried by them. Not being familiar with the process, I see from your question someone has to apply to be the Administrator. Another question then is Who could be eligible for that job?
In Texas, a simple estate will be open for a minimum of four months from the date the Admin is appointed and notices are mailed to creditors. This term is mandated by statute and is instituted to allow creditors of the decedent an opportunity to file claims against the estate. In many cases, no claims are filed and the estate can be closed shortly after the expiration of the statutory notice periods.
The Admin is also responsible for filing a final tax return for the decedent as well as for the estate. But I would suggest getting an accountant or CPA to handle that for you.
Once the minimum 4 months has passed and all debts have been paid, the Admin can disburse the remaining assets to the beneficiaries according to the terms of the will and file the final accounting and close the estate.
This is very helpful information. Thank you. Would the state of TX have any "death taxes" that would be deducted from the estate?
If that amount was there, would be more surprising than the untimely death. How about general, or typical costs of probate attorneys?
Appreciate all of your input. There may be more questions to come, but I have other needs to attend to so nothing will be asked for a few hours.
Thanks so much for the positive rating and generous bonus, it is very much appreciated!
It was my pleasure to work with you and help with your question. Please feel free to ask for me if you need help with anything in the future and I will do my level best to help or get you to someone who can.
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