Who is not qualified to be an executor or administrator in Texas?
Texas law provides that a person is not qualified to serve as an executor or administrator if the person is: (5) a person whom the court finds unsuitable. The term “unsuitable” is not defined in the Texas Probate Code, leaving the implication that the trial court has discretion in making that determination.
What percentage does an executor of a will get in Texas?
If the will does not mention compensation, the default rates set in the Texas Probate Code apply. Under state law, as long as an executor properly carries out their administration duties, they are entitled to receive a 5-percent commission on the amounts they obtain and disburse in cash.
What is an executor’s Commission in Texas?
In Texas, when a person accepts the role of an executor, they receive a 5-percent commission on the amounts they collect and pay out in cash while administering an estate. This is of course assuming that the executor carries out their duties properly.
When can the Court remove an independent executor in Texas?
Texas Estates Code Section 404.0035 provides that the court may remove an independent executor if the independent executor: (4) the independent executor becomes incapable of properly performing the independent executor’s fiduciary duties due to a material conflict of interest. The term “incapable” is not well discussed in the case law.
What are the duties of an estate executor in Texas?
In this situation, the estate executor distributes assets, pays bills, and carries out their duties without court oversight. Administration of an estate can be difficult, especially if there are assets located outside Texas or the deceased had significant business holdings.
Can a person named in a will be appointed as executor?
But a person named in a will does not automatically qualify to be appointed as executor of the estate. Texas law provides that a person is not qualified to serve as an executor or administrator if the person is: (5) a person whom the court finds unsuitable.