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C-dub

It is looking more and more like we will have to go with an attorney to get this done. It just chaps me because my mom’s Will stipulates that I and my sister are co-executors. I don’t understand why a court would have any say in the matter. Her will was handled by a law group that used to do probate, but no longer does. The group they recommended me to wants nearly half the amount we’re needing the Letter for to open an estate account to disperse to the grandchildren.

It is all very frustrating.

I do appreciate everyone’s advice and information.

C-dub

TAM, Puma Guy, Rex B, et al.

Thanks for all the information. We won't be able to change how my mom set things up now, but this definitely gives us ideas for how to set things up for our stuff to our daughter and grandkids. It sounds like Trusts are the way to go and looks like we ma be setting at lest one of those up afterall.

FYI, I struck out at the probate court this morning as far as requesting a letter myself. They said it has to be done by an attorney. The clerk did alert me to something called Muniment of Title that I could do myself. After looking it up and going through some of the details I don't think we will meet the criteria to do that. I haven't checked with the bank yet either regarding that, but they would have to accept a Muniment of Title in lieu of the Letter of Testamentary, which the clerk said some do, but many banks do not.

I tried contacting Rex B's lawyer this morning after striking out myself only to find they are closed on Friday's. I'll call Monday morning.

C-dub

Don T wrote: ↑Fri Aug 09, 2024 9:01 pm
philip964 wrote: ↑Fri Aug 09, 2024 10:27 am
Don T wrote: ↑Thu Aug 08, 2024 7:22 pm
philip964 wrote: ↑Wed Aug 07, 2024 9:38 pm
Its hard to get more letters of testamentary, so getting only what you now think you will need is risky. Get more they are cheap.

Why you make accounts with another person with survivorship. (need to trust the person though) Elderly people have done this with a son or daughter and low and behold the son or daughter takes all the money.
It is definitely not hard to get additional letters testamentary, as long as the estate has not been formally closed. Most experienced probate attorneys never close an estate, because there is always a possibility that other assets for which letters are needed will be discovered, even years later.

The executor or the executor’s attorney can obtain new letters testamentary from the probate clerk in the county in which the Will was probated.

It may not make sense to obtain a large number of letters testamentary initially because many third parties (brokerage companies in particular) will require that recent letters be presented (within last 60 days).

Don T
Yes the attorney can get more. But then you have to pay him for doing that. The OP was only going to get one.
The person serving as executor does not have pay an attorney. As I noted, the executor can go in person to the probate clerk’s office himself and get one himself without engaging an attorney to do so.

Don T

That is interesting to know. I will also check into that.

C-dub

puma guy wrote: ↑Thu Aug 08, 2024 6:17 pm Maybe a dumb question. Was their no beneficiary named on the account?

There was to three grandchildren. When I was notified of its maturity I went to the bank with her Will that shows me as executor, certificate of death, and they cut me a cashier check to the estate of my mom. I didn't know they were going to do that right then and only found out about the letter and having to open a special account when I took it to my bank to ask about how to handle it.

My bank told me that once the account was created they would deposit it there and I could distribute the funds according to her Will and the close the account since it would be empty. They just didn’t say how difficult or how much it would cost to get there.

C-dub

philip964 wrote: ↑Thu Aug 08, 2024 10:57 am
C-dub wrote: ↑Thu Aug 08, 2024 8:57 am
philip964 wrote: ↑Wed Aug 07, 2024 9:38 pm If there is a will, it is probated with the help of a lawyer. Executor gets letters of testimentary. Get at least 10 or more.

Lawyer was $900, 25 years ago.

Every account will want a letter a letter of testimentary to close.

Spouse gets to live in the house until they leave of their own free will or die.

Probate took about 5 minutes in front of judge. 2 hours at courthouse altogether.

This was a simple case, no one objecting, no drama.

Hardest part was getting Will out of safe deposit box.

I have had friends who have had giant nightmares, benificiaries suing everyone, you name it it happened. The attorneys did really well.
There will be only one account, so only one letter is required. Almost as soon as the account is created I will divide whatever is left by three and distribute to the three grandkids. Then the account will be closed since it will be empty. It is only a little over $6k, but the lawyers are telling me they want a flat fee of $3k to do their part. This is why I don't understand the need for probate. It is not property, not a large sum, and no one is contesting. My sister and I are co-executors and she has asked me to take care of this since it was seemingly so cut and dried.

I can't distribute the money since the CD check is payable to my mom's estate without opening an estate account. I can't open an estate account without a letter of testamentary. I can't apply for that letter without going to court and it seems that in Texas or at least Denton county, only a lawyer can apply for that in court and only probate lawyer at that. It also appears that it must go through probate even though my mom's will spells everything out clearly. Argh!

I guess this is another of life's mysteries.
Its hard to get more letters of testamentary, so getting only what you now think you will need is risky. Get more they are cheap.

Why you make accounts with another person with survivorship. (need to trust the person though) Elderly people have done this with a son or daughter and low and behold the son or daughter takes all the money.

Thanks. I’ll ask them about that. Distribution of this CD is the last item to take care of from my mom. However, we had forgotten about it and thought we were done with everything last year.

C-dub

philip964 wrote: ↑Wed Aug 07, 2024 9:38 pm If there is a will, it is probated with the help of a lawyer. Executor gets letters of testimentary. Get at least 10 or more.

Lawyer was $900, 25 years ago.

Every account will want a letter a letter of testimentary to close.

Spouse gets to live in the house until they leave of their own free will or die.

Probate took about 5 minutes in front of judge. 2 hours at courthouse altogether.

This was a simple case, no one objecting, no drama.

Hardest part was getting Will out of safe deposit box.

I have had friends who have had giant nightmares, benificiaries suing everyone, you name it it happened. The attorneys did really well.

There will be only one account, so only one letter is required. Almost as soon as the account is created I will divide whatever is left by three and distribute to the three grandkids. Then the account will be closed since it will be empty. It is only a little over $6k, but the lawyers are telling me they want a flat fee of $3k to do their part. This is why I don't understand the need for probate. It is not property, not a large sum, and no one is contesting. My sister and I are co-executors and she has asked me to take care of this since it was seemingly so cut and dried.

I can't distribute the money since the CD check is payable to my mom's estate without opening an estate account. I can't open an estate account without a letter of testamentary. I can't apply for that letter without going to court and it seems that in Texas or at least Denton county, only a lawyer can apply for that in court and only probate lawyer at that. It also appears that it must go through probate even though my mom's will spells everything out clearly. Argh!

I guess this is another of life's mysteries.

C-dub

mayor wrote: ↑Wed Aug 07, 2024 6:05 pm I'll take a stab.
They are lawyers. They are lawyers.
As flippant as that is, it's the truth. Ever read the fine print on a title search, that I paid a lawyer to do? It says "if we made a mistake, it sucks to be you."

I'm getting that feeling.

C-dub

Abraham wrote: ↑Wed Aug 17, 2016 11:30 am glock27,

You'll have to see a lawyer who specializes in probate law and yes, pay him for his service.

Resurrection time.

I have been in contact with a couple probate lawyers regarding getting a letter of testamentary in order to open an estate account to distribute a CD. They all want a flat fee of nearly half the CD and it seems I cannot just apply for the letter myself and it must go through probate. If that weren't frustrating enough, the office I visited today wouldn't even tell me why it has to go through probate or why it costs so much without paying them to tell me. They said they couldn't give legal advice without their consultation fee. I don't understand how answering those two questions are considered legal advice.

Venting here just a bit, but does anyone here know the the answers to either of those two questions?

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