Q: What Texas Laws and Procedures must I be aware of when I settle my mother’s liquid-assets only estate?
I live in Alabama and she lives in Texas. I am executor/administrator of her estate. Her only assets are about 90K in cash and savings accounts and in IRAs, all with named beneficiaries. What steps must I follow to settle her estate? What must be done in person?
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A: Collecting accounts that have death beneficiaries listed is fairly simple. After your mother passes, just send a letter to each financial institution notifying them of your mother's death. Be sure to enclose an original certified death certificate, so be sure to order enough originals plus a few more just in case. They will probably respond by mailing claim forms to the death beneficiary(ies) asking for their current addresses and dates of birth and phone and social security numbers. They will probably also require copies of identification cards (usually driver license) to prove that each beneficiary is who he or she says he or she is.
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