The death of a loved one is difficult for any family. In addition to the grief that one could experience, there may also be the task of handling the estate of the deceased. This is an immense responsibility, and adult children could feel overwhelmed by the requirement of going through their parents’ belongings and handling remaining matters. Estate administration is a daunting task, and it is helpful to know beforehand what to expect.
Adult children may not be familiar with their parents’ plans, and they may not even know where their parents store important estate planning documents. It is beneficial for parents to discuss their plans and objectives with their adult children so that they are not surprised by the terms of the plans. Estate administration is much simpler with reasonable expectations and an understanding of the decedent’s objectives.
Details about the estate administration process
When a person passes away, what happens to his or her property will depend on whether that individual had a will. If so, it is important to locate the will and ensure that it is valid. In many cases, the decedent will name in his or her will a person to act as executor of the estate. If there is no designated executor, the court will appoint one. The executor oversees the administration of the estate, which includes the following steps:
- Filing the will with the appropriate probate court
- Locating estate assets and securing them
- Notifying creditors and paying remaining debts
- Filing tax returns
- Distributing assets according to the terms of the will
Estate administration can be a difficult process, especially when there are disputes over the terms of the will and other complications. By knowing what to expect from the estate administration process, adult children of older parents may be able to avoid complex issues during this process, as well as honor the wishes of their parents.
Assistance at every step
If you are facing the task of administering the Texas estate of your elderly parent, you may feel intimidated by what is ahead. You do not have to walk through this alone, especially when there is much at stake. You may benefit from having professional guidance at every step, ensuring that you meet all requirements and avoiding unnecessary setbacks.