What is an Executor of Estate?
Requirements as an Executor of Estate in Texas
- Age and Residency: To serve as an executor in Texas, you must be at least 18 years old and a resident of the United States. You don’t necessarily have to be a Texas resident, but you should have a legal presence there.
- Sound Mind: Executors must be of sound mind, meaning they are mentally capable of managing the responsibilities and decisions associated with estate administration.(Tex. Est. Code Ann. § § 304.003, 1002.017, 1002.019.)
- No Felony Convictions: Texas law generally disqualifies individuals with felony convictions unless they have been pardoned or have all their civil rights restored. Felons with certain convictions may face restrictions on serving as executors. (Tex. Est. Code Ann. § 304.003.)
Special Rules for Executors in Texas
- Conflict of Interest: Executors must not have a conflict of interest that would impair their ability to act impartially on behalf of the estate and its beneficiaries. Their primary responsibility is to prioritize the interests of the estate and its heirs.
- Bond Requirements: In some cases, the court may require executors to post a bond to protect the estate from financial mismanagement or misconduct. The bond amount is typically tied to the estimated value of the estate.
- Legal Representation: In many situations, Texas law requires executors to be represented by an attorney throughout the probate process. This legal representation ensures that the executor complies with all legal requirements and responsibilities.
- Probate Court Approval: Executors are usually appointed by the probate court, which reviews their qualifications and suitability before granting them the authority to act on behalf of the estate.
Rules for Corporate Executors
Texas Restrictions on Out-of-State Executors
FAQs If A Felon Can Serve As An Executor of Estate in Texas
If a will names an executor with a felony conviction, the court may disqualify that individual from serving. The court can then appoint an alternate executor or personal representative if one is designated in the will.
In some cases, a person with a felony conviction can regain eligibility to serve as an executor if they have received a pardon or fully restored civil rights. This process should be undertaken with the assistance of legal counsel.
Executor of estate fees are compensation paid to the individual or entity responsible for managing the estate’s administration and distribution of assets after someone’s death. These fees are intended to compensate the executor for their time, effort, and responsibilities in carrying out these duties.