Being the executor of a Texas estate means that time, effort and sometimes money needs to be put into settling a person’s final affairs. Of course, spending money does not necessarily mean that the executor has to resign him or herself to parting ways with personal funds to complete probate. Instead, estate funds are typically used or the executor will be reimbursed for certain expenses.
If the decedent’s home is left as part of the remaining estate, the executor may need to sell that home. If some repairs are needed to spruce the place up a bit to make it more appealing, the executor should not have to pay for those expenses out of pocket. Instead, estate funds should be used. Additionally, if the executor must travel to the home to check on repairs or generally maintain the property, he or she may be able to receive reimbursement for mileage.
Other expenses that the estate should cover include administrative costs. These costs can mean expenses incurred from mailing documents to beneficiaries, making copies of those documents or other actions carried out in the court of administering the estate. Moreover, if professional assistance is needed, such as from an appraiser for assets, the estate should pay for those services.
It can certainly seem confusing as to when an executor should or should not pay for expenses. Conflict can also arise if beneficiaries believe that the executor is skimming from the estate or making nonessential purchases with estate funds. As a result, it is wise to have a knowledgeable professional to help when completing the probate process. Texas attorneys can help executors understand when they should use estate funds and what actions could constitute a misuse of funds.