Section 304.003 - Persons Disqualified To Serve As Executor Or Administrator (a) Except as provided by Subsection (b), a person is not qualified to serve as an executor or administrator if the person is: (1) incapacitated; (2) a felon convicted under the laws of the United States or of any state of the United States ...
An estate beneficiary has a right to sue the executor or administrator if they are not competently doing their job or are engaged in fiduciary misconduct.
Texas law allows executors to sell property without the beneficiaries' approval, which can be necessary to keep the estate solvent. However, this authority comes with the responsibility of ensuring that the sale is conducted in the best interest of the estate.
Standard Executor Compensation This is referred to as the five-and-five rule. However, there are limitations to this commission. It cannot exceed five percent of the gross fair market value of the estate being administered, and it is not applicable in certain situations.
Executor's Role and Timeline for Asset Distribution. In Texas, an executor is given up to three years from their court appointment to distribute assets, excluding those allocated to creditors.
There may be additional hearings to resolve contests, and the executor will probably need court approval before making major decisions and actions. Informal probate is obviously the quickest and can conclude in 4 – 6 months. Formal probate may take up to a year or longer.
Probate Shortcuts in Arizona ValueOther Requirements Personal Property < $75,000 No ongoing formal probate Real Estate <$100,000 No personal representative appointed (or active during the last year)
Arizona Superior Court in Pima County. 110 West Congress Street. Tucson, AZ 85701.
In Arizona, if a decedents estate is small enough, the law allows you to skip probate altogether and use a simplified process. This usually is reserved for smaller estates if the value is under $100,000 (for real estate) or under $75,000 (personal property).
Informal probate requires that the deceased had a valid will at the time of death that has not been challenged and died less than 2 years before probate is opened. In an informal probate process, a personal representative is appointed by the court to administer the estate with minimal court supervision.