Closing the Estate

Most estates that are subject to an Independent administration are never closed. Although there are Texas Estates Code provisions for the filing of a final account with the Court and the issuance of citation to the beneficiaries and the known creditors of the estate, the cost to complete such a closing is seldom worth it. Furthermore, if an unknown asset suddenly surfaces and the executor has closed the estate, the executor would be in the unenviable position of re-opening the closed estate and completing the process again. If the estate is left open, however, the executor can simply send in his or her Letters Testamentary to claim the assets, and distribute them according to the Will without the need to re-engage an attorney.

© 2016-2023 Duran Firm, PLLC
All rights reserved.