Legal Question in Wills and Trusts in Texas
Decedent's lawsuit and inheritable payments for damages
My mother passed away 02/2004 with no will, no estate, no assets and no ownership of anything of value, such as a car, house, etc. I was her sole beneficiary of her life insurance and I held a joint bank account with her, as I was also her sole care-taker. All of her debts have either been paid off or written off as charity. Along with her siblings, she is party to an asbestos lawsuit filed on behalf of her father, which involves several companies and is now in the process of being settled. I have recently found out that the payments for damages that she was entitled to are inheritable to me and my brothers, and several future payments are expected over the upcoming years. Do I need to open an estate to deposit the funds from the judgements/settlement? If so, how long does it generally take to open one? If not, can I simply deposit the funds into a special bank account set up for this purpose and distribute my brother's portions as each settlement is made? Thanks for your help.
2 Answers from Attorneys
Re: Decedent's lawsuit and inheritable payments for damages
Unfortunately, this question goes beyond the kind of general information that can be provided on this bulletin board. I suggest you contact your attorney for a consultation specific to your circumstances.
Re: Decedent's lawsuit and inheritable payments for damages
You'll need to open an estate in probate.
Contact an attorney that handles probate matters in the county where you mother resided, to handle the estate and probate matters.
The attorneys handling the settlement will not give the checks to you without letters testamentary authorizing you to handle the estate.
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