Transcript Wills and Trusts - professorbeyer.com

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1. Express language in the will
▪ PC § 145(b)
▪ EC § 401.001
▪ In re Dulin’s Estate – p. 193
▪ Questions 1-2 – p. 196
▪ Relevance of mere bond waiver
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2. By agreement of all will beneficiaries
▪ PC § 145(c)
▪ EC § 401.002
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3. By agreement of all heirs
▪ PC § 145(e)
▪ EC § 401.003
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Obtaining agreement of distributees
▪ PC § 145
▪ EC § 401.004
 Examples:
▪ Minor = guardian of the person
▪ Testamentary trust = current income beneficiaries
▪ Life estate = life tenant
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Testator may prohibit independent
administration
▪ PC § 145
▪ EC § 401.001(b)
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Court may waive bond
 Even if will did not provide for bond waiver
 Even if decedent died intestate
▪ PC § 145(p)
▪ EC § 401.005
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1. Act as a fiduciary and in good faith.
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2. File inventory, appraisement, and list of
claims (or affidavit in lieu thereof) within 90
days of qualification.
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3. Set aside homestead, allowances, and
exempt property
 PC § 146
 EC § 403.001
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4. Creditors
▪ PC § 146
▪ EC Chapter 403, subchapter B
 Give notices as in dependent administration
 Creditors have basically the same rights and
duties
 Classify and pay claims as in a dependent
administration
 Problems 1-3 (p. 199)
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5. Selling estate property
▪ PC § 145C
▪ EC § 402.052
 Even without power of sale clause in a will, PR
may sell estate property in the same situations
that a dependent PR could sell.
 PR can also get court to grant a power of sale
with consent of distributees if:
▪ No will provision
▪ Intestacy
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6. Accounting
 Annual accounts are not needed.
 Interested person may demand after 15 months
▪ PC § 149A
▪ EC § 404.001
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7. Accounting & Distribution
 Interested person may petition court after two
years
▪ PC § 149B
▪ EC § 405.001
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Authority
▪ PC § 149C
▪ EC § 404.003
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Who requests?
 Any interested person
 Court on its own motion
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Notice by personal service is required
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Grounds
 Basically, same as for removal of dependent PR
 In re Estate of Miller (p. 201)
 Kappus v. Kappus (Tex. Sup. Ct.)
▪ Legislative reaction
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No requirement that estate be closed.
 Should PR close the estate?
▪ Reasons yes
▪ Reasons no
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1. By Affidavit – The closing report
▪ PC § 151
▪ EC § 405.005
 When
▪ All debts paid (or paid as much as possible), and
▪ Residue (if any) given to heirs and beneficiaries
 Closing report is like a mini-accounting
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1. By Affidavit – The closing report
 Verified by affidavit
 Court takes no action
 No impact on PR liability
 Future claimants cannot look to ex-PR
 Burke (p. 210)
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2. By distributee application
▪ PC § 152
▪ EC § 405.009
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3. Judicial discharge
▪ PC §§ 149D-149G
▪ EC § 405.003
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4. By operation of law
▪ In re Estate of Teinert
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Partition
 PR can go to court for help with partitioning
estate property.
▪ PC § 150
▪ EC § 405.008