When you pass away, your estate will go through probate. This court-supervised procedure is overseen by an authorized individual referred to as a “personal representative” (PR). Depending on the circumstances, the specific title of your estate’s PR may be an executor or an administrator. Here are their main roles and key differences:
What is an executor’s role in probate?
If you own a valid will, your appointed executor will be the one responsible for managing your estate’s affairs and your will’s directives. However, if your “executor” becomes unwilling to serve, the court will proceed to appoint either a professional or a family member to replace them. In this case, the new appointee will be known as the “administrator.”
Once the Texas probate court authenticates your will, your executor can officially begin with your estate’s administration. Their tasks will include:
- Arranging your funeral directives
- Locating your assets and their estimated values
- Notifying your creditors
- Settling your outstanding bills, debts and taxes from your estate funds
- Distributing your assets to your named beneficiaries
To conclude their role as your executor or administrator, they will notify the court to formally close off your estate.
What happens if I die without a will?
Your probate process would follow a different path if you left your estate without a will. In this case, a court-appointed administrator will oversee the distribution of your assets. Whereas they will seek to distribute your assets in a hierarchy-based order of inheritance, also known as intestate succession laws.
Prepare for your future the right way
Even if you do not want to think about your future death, you still need to include it in your plans. By creating a valid will, you can protect your assets’ distribution process and take care of your family’s inheritance.
