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Protecting Your Legacy

Is choosing a professional executor better for probate?

by | Nov 14, 2019 | Probate & Estate Administration |

Many Texas residents have concerns about who will handle their final affairs when the time comes. Though it may seem best to choose a family member to act as the executor, that is not always the case. Most people have little knowledge and experience seeing an estate through probate, so it may make more sense to some to opt for a professional.

Many banks have the option of acting as the executor of an estate. Some people may find using this type of outside party more acceptable because banks already have money management experience and have likely seen multiple estates through probate already. Rather than placing the substantial responsibility on an inexperienced loved one, some parties may instead want to use a bank.

Of course, banks charge fees for their executor services, and if an estate cannot cover the fees, the bank will not provide the service. As a result, it is important to know the value of the estate before choosing a bank as the executor. If there is enough to cover the fees, it may bring some peace of mind knowing that an unbiased party will handle the affairs and possibly reduce the risk of family squabbles.

Having someone experienced with the probate process handle their affairs may seem more appealing to some Texas residents. Of course, if an estate cannot afford a professional executor or simply does not want to follow an impersonal approach, individuals can appoint a loved one or other party. In such cases, experienced attorneys can help executors throughout the legal process.