You may have tried to ensure that your property and money go to family members or friends. Before you pass away, you and your loved ones need to know that your estate may still go through probate.
In another instance, you may have decided to write your will by yourself. Because your estate may be complicated, you may not have thought of everything related to your estate.
Probate allows Texas to have access to your bank accounts
After your passing, your loved ones may be surprised to learn that the state intends to place your estate into probate. They may have believed that having a will allows your estate to avoid probate.
If you have bank accounts and more than one life insurance policy, the probate court may need to be able to look through your policies and your accounts. The state of Texas and the probate court want to be sure that the division of your money and property has been done according to state law.
What is probate?
“Probate” is the process of allowing the probate court to look through your will and entire estate. This includes your bank accounts and those life insurance policies.
Probate may also be described as “court-supervised.” The probate court in Texas may need to examine your assets and property, to make sure that everything you owned has been mentioned in your will.
What is the purpose of probate?
While you may have decided who will be receiving something from your estate, Texas probate court may make a different decision. Once they know what your relationship was to the intended recipient, In other words, the probate court will override your decision.
You may have decided to give your spouse most of your estate. You may have bills that still have to be paid. This is one example where probate makes changes to your will.