What is Estate Administration?
Your estate is your net worth.
Your net worth is calculated by adding up all of your assets and subtracting all your debts.
Now when someone passes away, their estate needs to be administered so that all of the debts are paid off and the remaining assets are distributed to heirs or beneficiaries.
In this article, I’m going to give you a brief overview of some of the issues that arise when an estate needs to be administered under Texas law.
These issues include:
So, usually the first thing that needs to be addressed is whether there is a valid last will and testament that provides instructions on how the estate should be administered.