Your assets need to be disbursed, used for taxes or debt when you die. Making sure that your beneficiaries receive their assets, however, might be difficult if those assets are in multiple jurisdictions. Probate in Texas may call for different states to coordinate in order to administer a deceased’s estate. Thankfully, you can organize your estate plan to prepare for an ancillary probate.
What is the primary probate?
A primary probate is your typical probate as issued by the state of your residency. This hearing is issued in order to disburse your assets through a default court system. This is when an executor is assigned to your estate, and this person makes a public notice about your death. They are then to find your beneficiaries, pay your debts and buy or sell property.
What is ancillary probate?
The ancillary probate is issued alongside your primary probate. While the ancillary attempts to execute your possessions in another state, your current state will keep track of the other state’s progress. Since wills and probate hearings are made public, your estate could undergo an ancillary probate with or without your intended consent. Keep in mind that not planning for out-of-state assets could disrupt your beneficiaries, taxes and the wishes stated in a will.
Probate in Texas
You need to ask yourself about the assets you have that are sitting in different states. Public courts make a fair effort to honor the wishes of a will, title or trust even when such is situated in another state. However, if you prepare now, your estate could be managed with no hassle, and your beneficiaries should receive your assets without them being contested.