Legal Question in Wills and Trusts in Texas
No will, small estate, huge credit card debt
My mother passed away last month with no will. She has a 50k mortgage on a home that will appraise at about 100k, based on recent comps in the neighborhood, a 6 year old Chevy with 86,000 miles, the normal assortment of household items, and several small (2K) 401K and 403B accounts. There were two small life insurance policies (10K and 50K) naming me and my two sisters equally. She also had about $60k in credit card debt.
Under TX state law, will the creditors be allowed to attach liens to the estate? If so, do we have the option of handing the house keys over to the mortgage company and letting them slug it out with the creditors? What about the few personal sentimental items that we would like to keep?
Since she died in her sleep, it is taking a long time to get a death certificate from the Harris Co. ME. These are just the most pressing questions we have.
Thanks!
1 Answer from Attorneys
Re: No will, small estate, huge credit card debt
If your mother's estate is entered into probate, you have to give notice to creditors and they can present their claims. There shouldn't be any problem with 'sentimental items' unless they have a substantial intrinsic value.
At this point, whether to enter the estate into probate with an application to determine heirship and for administration is strictly a business decision.
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