The probate process can present various challenges, both logistically and emotionally, for the loved ones left behind by a decedent. However, not all assets are subject to probate, as some are automatically exempt from the process. At The Probate Law Group, we specialize in distinguishing between probate and non-probate assets, sparing families from unnecessary resource-draining procedures during their difficult times.
In essence, probate assets are governed by the terms of a will. Real property and assets usually fall under this category, unless they are exempted by specific provisions. For instance, if the decedent owned a home, a piece of land, or funds in a non-exempt bank account, these assets will need to undergo the probate process. The probate court confirms the individual’s passing, notifies potential beneficiaries, and distributes assets accordingly. This process can span from several months to a couple of years.
At The Probate Law Group, we believe in proactive Probate attorney to ensure success. Our Texas clients trust us with their most critical needs, knowing that we prioritize their best interests. If you seek guidance from an experienced Houston probate and estate planning attorney to navigate the probate process, call us today for a consultation at 713-574-6080. Alternatively, share your circumstances with us by filling out our online form. Let us be your trusted partner in this journey.
Certain assets are exempt from probate automatically due to their organizational structure:
- Trust assets: Establishing different types of trusts can exempt assets from probate, providing a significant advantage to entrusting money or property into a trust.
- Property with joint tenancy and right of survivorship: When property is jointly owned with a right of survivorship, the surviving co-owners automatically assume ownership after one person’s passing, bypassing probate litigation.
- Insurance policies: Life insurance policies enable the immediate transfer of proceeds to beneficiaries upon the policyholder’s death.
- Transfer-on-death accounts: Designating specific bank accounts as “transfer-on-death” ensures their automatic transfer to another person upon the account owner’s death.
These are just a few examples of non-probate assets. The process of determining which property goes through probate and which is exempt can be complex. Seeking guidance from an experienced probate attorney can help you understand these options based on your unique priorities and needs.
Do You Need a Probate Attorney in Texas?
Our Texas clients trust us with their most critical needs, knowing that we prioritize their best interests. If you seek guidance from an experienced Houston probate attorney to navigate the probate process, call us today for a consultation at 713-574-6080. Alternatively, share your circumstances with us by filling out our online form. Let us be your trusted partner in this journey.