Legal Question in Wills and Trusts in Texas
Probate
How can the costs of probate be avoided or reduced? The size of the estate is approximately $250k.
Asked on 8/15/02, 6:12 pm
1 Answer from Attorneys
Re: Probate
It depends on what the costs are anticipated to be, and why. There are a few easy ways to reduce probate costs, depending on what's going on with the estate. One way is to have a settlement agreement between all of the heirs of the estate. This helps to avoid subsequent fighting, which can really add up on the expenses. Another way is to have the estate debts satisfied (if possible.) This leaves less work for the court system. Aside from that, having the family assemble all of the deceased's documents ahead of time can also reduce costs. I'm sure there are many other ways to make the process more efficient.
Answered on 8/15/02, 6:28 pm