Texas Probate | Inheritance Advances in Texas
If you’re a first-time heir who’s about to come into some money, you probably have questions about how to collect your inheritance. At Inheritance Funding, we make accessing your inheritance faster and easier than ever so you can acquire your cash without delays. We’re proud to be one of the leading cash advance companies in the U.S.
Is Probate Required in Texas?
Texas law states that when a citizen passes away, the probate courts must settle their estate. Probate is the legal process of issuing a decedent’s assets to the appropriate heirs. Though it may sound simple, there’s much more to Texas probate than meets the eye.
Steps to Settling an Estate in Texas
The process for probating a will in Texas involves these steps:
- Will submission and filing: Submit the will to the county court where the decedent resided and file a petition for probate within four years of the death.
- Post a notice: The county clerk will post a public notice to announce the petition filing.
- Verification: The county court will confirm the will’s validity and grant legal authority to the executor or administrator.
- Inventory assets: The executor has 90 days to inventory the decedent’s assets and submit the findings to the court, including the existence of any debt or tax obligations.
- Beneficiary notification: Next, the executor will contact the beneficiaries, who are the individuals designated by the decedent to receive an inheritance. If no beneficiaries exist or they cannot be located, Texas state law determines the appropriate heirs.
- Creditor notification: The decedent’s creditors will have the opportunity to file a claim to receive payments if applicable.
- Satisfy debts: The executor will use funds from the estate to pay debts, taxes and other obligations.
- Asset distribution: Beneficiaries will receive the estate’s assets as required.
- Estate closure: The executor will attend a hearing to ask the court to close the estate.
How Do You Avoid Probate in Texas?
Some methods for avoiding the Texas probate process include:
- Living trusts: With a living trust, the decedent’s assets pass seamlessly to beneficiaries without probate.
- Joint ownership: If one owner dies, the assets will immediately pass to surviving co-owners.
- Survivorship community property: This form of shared ownership allows community property to carry over to the surviving spouse after the owner’s death.
- Payable on death accounts: Money and other assets automatically pass to the designated beneficiary after the owner’s death.
- Transfer on death deeds: A transfer on death deed will allow a property owner to list a beneficiary to receive their property after the owner’s death.
- Small estate procedures: The administrators of a small estate meeting specific criteria can close the estate through a small estate affidavit.
How Long Does Probate Take in Texas?
The Texas probate timeline can be lengthy and depends on several factors. The estate can enter a streamlined probate process if a will is present. However, even this expedited version can take up to three months to complete. If the estate entering the probate process is small and there is no will, you can expect it to take at least two to three months.
Generally, the Texas probate process takes at least eight months. However, it is common for probate to last at least a year. Factors affecting the probate process length include infighting among heirs, having a will, and whether the decedent left a home or other property. How quickly one files for probate may also impact the timeline. Generally, the executor has four years from the date of the death to file for probate.
Specifically, if the decedent left a will containing a self-proving affidavit, a sworn statement attached to the document attesting to its validity, it’s possible to complete probate in as little as three months. The absence of this affidavit could extend the process.
The absence of a will requires the implementation of additional legal processes, which will lengthen the timeline. It calls for the appointment of an attorney to identify and locate heirs and beneficiaries and validate their eligibility to receive an inheritance.
Texas also offers a streamlined probate process to expedite the settlement of estates valued at $75,000 or less.
How Much Does Probate Cost in Texas?
The probate costs in Texas depend on whether the decedent did or did not have a will and other factors, such as the complexity and size of the estate, whether heirs or beneficiaries attempt to contest the will and the existence of estate plans.
If the decedent left a will, there will be approximately $400 in court costs and $750 and $1,500 in attorney fees. While more complicated cases typically demand higher attorney fees, the total cost rarely exceeds $2,500.
The absence of a will can result in a significant increase in probate costs. The total fees and expenses can fall between $2,500 and $3,000 and exceed $5,000 in more complex cases. If the potential heirs cannot agree on how to resolve the distribution of the inheritance, the cost can reach $6,500.
Besides attorney fees and court costs, probate expenditures can include filing fees, surety bonds and personal representative compensation.
What Happens If Someone Dies With No Will in Texas?
The state will distribute property according to the intestate succession laws if someone dies without a will. Distributions to a spouse and children are dependent on whether the children are also children of the spouse.
- In the case of a spouse and children who are also the children of the spouse: the spouse inherits all of the community property, plus one-third of the separate personal property and the right to use the real estate for life. The children inherit everything else.
- In the case of a spouse and children who are not the children of the spouse: the spouse keeps half of the community property, one-third of the separate personal property, and the right to use the real estate for life. The children inherit everything else, including a 50% interest in the community property.
If the decedent had no spouse, their assets would go to their children. Based on probate law in Texas, the state will split assets among parents and siblings if the deceased had no spouses or children. Texas does not have an inheritance or estate tax, meaning beneficiaries should only concern themselves with federal estate taxes.
How to Determine Next of Kin in Texas
In situations where the decedent did not leave a valid will, the next of kin succession determines the disposition of remains and inheritance purposes. Under Texas law, the official order of the next of kin is:
- The decedent’s surviving spouse
- Surviving adult children or their descendants
- Adult siblings or their descendants
- Maternal and paternal kindred
The process involves starting at the top of the list and moving down until locating a qualified individual.
Next of kin also applies to seeing to the decedent’s body. The “Right to Control Disposition” refers to the individual legally responsible for making final arrangements and paying the costs. In Texas, the official order for identifying this person is:
- The individual designated in a written document with the decedent’s signature
- Surviving spouse
- Any surviving adult children
- Either of the surviving parents
- Surviving adult siblings
- Any qualified estate executor or administrator
- An adult person in the next degree of kinship
Is There a Way to Get Your Inheritance Faster in Texas?
As the rightful heir to an inheritance, you should be able to use your money at your convenience. Fortunately, you can avoid Probate Court altogether with one fast and easy solution. You can get a probate cash advance from Inheritance Funding to access a significant portion of your inheritance before probate ends. You’ll enjoy a smooth and stress-free process with us, where you’ll begin by discussing the specifics of your inheritance and how much money you want to collect. Next, we’ll give you some simple paperwork to complete before wiring cash to you within the same day.
How Can I Get an Inheritance Advance?
If you’re a Texas heir, you’re eligible for a probate advance from IFC. We cover inheritors from across the state, including residents from the following counties:
- Harris County
- Dallas County
- Travis County
- Tarrant County
- Bexar County
- Hidalgo County
- Collin County
- El Paso County
- Fort Bend County
- Denton County
- And more
Our Inheritance Advance Process in Texas
We understand you’re eager to collect your cash and end the probate process. That’s why we’ve crafted a straightforward method for sending you your inheritance money immediately. After you speak with one of our representatives in a free consultation, you’ll receive payment within 24 hours.
You’re in excellent hands at IFC, where we treat our clients to many exciting benefits:
- Easy online process: You can use your phone or computer to work through our cash advance process and get your money the same day.
- Most affordable price: We’ll set you up with a low, competitive price that beats other offers.
- Cash for your needs: Once you get your money, there are no strings attached — you can use it however you wish.
- No pre-screenings: We won’t use your income, credit score, or employment history to determine if you get a cash advance.
- No repayment obligation: We’re not a lender, so we won’t hold you responsible for repayment. Unlike a probate loan, you can get an inheritance advance at no risk to you.
- Zero hidden fees: We’ll never require extra payments or additional fees, and your advance won’t impact your fellow heirs.
Make Inheritance Easier With a Probate Advance From IFC
You can get a Texas probate advance faster than ever at Inheritance Funding. We have been in business since 1992, making us a reliable choice for your probate advance needs. We have advanced hundreds of millions of dollars for heirs. Complete our online form for a free quote today to learn more about how our probate advance plans can benefit you!
Why Wait? Get Your Inheritance Now!
To get started,
give us a call directly or fill out the form to receive your free consultation.