dependent administration the end stages
DESCRIPTION
Dependent Administration The End Stages. Partition & Distribution. Partial Distribution. When? After approval of inventory Who may request? PR Heirs Beneficiaries Authority PC § 373(c) EC § 360.002. Total Distribution. When? After one year from grant of letters Who may request? PR - PowerPoint PPT PresentationTRANSCRIPT
Dependent Administration
The End Stages
Partition & Distribution
Partial Distribution
When? After approval of inventory
Who may request? PR Heirs Beneficiaries
Authority PC § 373(c) EC § 360.002
Total Distribution
When? After one year from grant of letters
Who may request? PR Heirs Beneficiaries
Authority PC § 373(a) EC § 360.001
Citation
Method Personal service on each person
residing in Texas whose address is known.
Publication service on others
Authority PC § 374 EC § 360.051
Hearing
Court will determine if it is proper to make a partial or total distribution. PC §§ 377-378 EC § 360.101
Partition
Money or debts due the estate Easy – just use simple math▪ PC §§ 380▪ EC § 360.151
Partition
Other property capable of division Court appoints three or more
discreet and disinterested persons to divide the property▪ PC § 380▪ EC § 360.151
Partition
Property not capable of division Court orders PR to sell the property
and divide the proceeds▪ PC § 381▪ EC § 360.202
Income
Income from a gifted item that accrues after death but before distribution is given to the beneficiary less the cost of taxes, repairs, insurance, management fees, etc.▪ PC § 378B▪ EC § 310.004
Final Settlement
Triggering event All debts paid, or Debts paid as much as possible, and No further need for administration.▪ PC § 404▪ EC § 362.001
Final Account
Very similar to the annual account▪ PC § 405▪ EC § 362.004
Citation Normally, certified mail, return receipt
requested▪ PC § 405▪ EC § 362.005
Court action