Handling another person’s affairs can be a complex matter. After a loved one’s death, the executor of a Texas estate must address a number of final affairs and ensure that the estate closes in the correct manner. During the probate process, the executor also has the obligation of making sure that the necessary fees are paid.
Though the executor has this obligation, he or she does not have to cover the fees out of pocket. Instead, the remaining funds of the estate are used to address these costs. Probate is a common process, but it is not necessarily cost-efficient. There are a number of fees that need addressing, and while not all are required in every case, they can still reduce the remaining estate.
Some of the fees that the executor will need to address include court fees, attorney’s fees and accounting fees. The executor may need the help of professionals like an attorney and an accountant to make sure that the steps of probate are followed correctly and to ensure that the taxable estate is properly handled. Other fees that could apply to an estate include appraisal fees, business valuation fees, bond fees and other miscellaneous fees.
It can understandably be difficult to keep the financial affairs of another person in order. Still, this duty falls to the executor, and if mistakes are made, serious issues could result that may affect the remaining estate and its beneficiaries. In hopes of seeing probate through as best as possible, executors of Texas estates may want to enlist the help of experienced attorneys along the way.