Detailed Answer
Texas probate courts use several tools to ensure administrators fulfill their duties and adhere to bond requirements. These safeguards protect the estate, creditors, and heirs.
Bond Requirement and Surety Protection
Under Texas Estates Code § 401.001, administrators generally must post a bond to secure faithful performance of their duties. The bond amount equals the estate’s value plus anticipated income. A licensed surety company underwrites the bond, guaranteeing payment if the administrator misappropriates assets or neglects obligations. Link: https://statutes.capitol.texas.gov/Docs/ES/htm/ES.401.htm#401.001
Inventory, Appraisement, and List of Claims
The administrator must file an inventory and appraisement within 90 days of appointment per Texas Estates Code § 309.051. This report lists estate assets and creditor claims, allowing the court and interested parties to monitor estate property. Link: https://statutes.capitol.texas.gov/Docs/ES/htm/ES.309.htm#309.051
Accounting and Reporting
Under Texas Estates Code § 405.351, administrators file periodic and final accountings. These statements detail all financial transactions, distributions, and fees. The court reviews the accounting and approves or demands corrections before closing the estate. Link: https://statutes.capitol.texas.gov/Docs/ES/htm/ES.405.htm#405.351
Court Enforcement and Removal
If an administrator fails in duties, Texas Estates Code § 401.103 authorizes the court to surcharge (hold financially liable) the administrator and surety. The court may also remove the administrator for cause, such as breach of fiduciary duty or failure to file required documents. Link: https://statutes.capitol.texas.gov/Docs/ES/htm/ES.401.htm#401.103
Creditor and Heir Protections
Creditors or heirs can petition the court to compel an accounting, challenge the bond, or seek removal of the administrator. Timely objections and hearings ensure transparency and accountability throughout the probate process.
Helpful Hints
- Confirm bond requirements in the administrator’s qualification order.
- Track inventory and appraisal deadlines (usually 90 days).
- Review periodic accountings and raise objections promptly.
- Consult with a probate attorney if discrepancies or delays occur.
- Ensure the surety company remains solvent for bond security.