On 25 Sep 2004 10:47:17 -0700, Susan Young wrote:
I have received letters testamentary as executrix of my fiance's
estate. He willed his four vehicles (non-working) and home and
personal property to me. The only other items were $1.00 to five
relatives. When would I need to open a checking account for the
"Estate of ..."?
When you have money to deposit or bills to pay.
Can I sell any items before the Inventory & Appraisement is complete
and approved?
Yes. [Disclaimer: I am not familiar with Texas law.]
Could you tell me what the purpose is of the Inventory
and Appraisement?
To inform the heirs, creditors, taxing authorities, and court.
My attorney waived the appraiser (no, I don't know
why), and I don't know how to appraise the home, vehicles and personal
property. Does anyone know how I should value the items?
Some methods of valuation are more accurate than others but more
expensive. Other ways are less accurate but less expensive. Which
do you want?
Also, regarding the I&A, the attorney told me I would only have to
publish a "Notice to Creditors" and wait 4 months for them to come
forward, and be approved for payment by the court. However, the I&A
he sent me asked for creditors' names that I know of. But I don't
know if these creditors are legitimate. Do I list them anyway or just
publish the notice or both?
Both.
I may want to spend money to improve the property. Should that
estimate be listed as a "creditor"?
No.
I have received more than one answer to the question of possibly
selling the home. I don't know what documents I need, or if I need to
transfer the title to me or to someone who would purchase it directly
from the estate. Would I need to get certified copies of legal
documents to transfer title if I keep the property?
No. [Disclaimer: I am not familiar with Texas law.]
Do I now have the
authority to pay the taxes due on the home?
Yes, provided that there is no other reason not to pay.
Relatives (the ones left $1.00)raided the home after his death for
items totaling @$3000. Can I take them to small claims court for their
return or the money value of the items?
Probably. First check whether you are required to go through the probate
court. If not, check the small claims court jurisdiction to see if it is
possible for that court to order return of property, or just money damages.
Can I do that now, or must I
wait until other matters are handled through the court?
No time like the present.
I know this is long, and I apologize. My attorney is out of town, and
I have no one to ask these questions unless I retain another attorney.
Isn't your attorney going to be coming back? If he/she is away for a week
or two and your plan is to get these things taken care of before he/she
gets back and without his/her knowledge, that's an awful plan.
Also, could anyone tell me how to find out if there are any insurance
policies?
You start by going through the decedent's records, including cancelled
checks, to see if you can find anything referring to insurance.
