Do we have to probate a Will when the only asset is $10,000 in a checking account?
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Do we have to probate a Will when the only asset is $10,000 in a checking account?
My father passed. know that in NV I can just file an affidavit under NRS to gain access to the monies under $20,000. Does TX have a similar statute?
Asked on July 5, 2011 under Estate Planning, Texas
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
As a matter of fact TX, like most states, does have such a statute covering small estates. It provides that where an estate is valued at less than $50,000, an interested party can, after 30 days of the death of the decedent, file an affidavit with the clerk of the applicable probate court (i.e. the court in the county of the decedent's domicile). After the affidavit has been approved, the affidavit may be used to collect debts owed to the decedent and distribute any remaining assets.
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