Determining Claims Against the Estate
During the administration of an estate in the Montgomery County Probate Court the claims against the estate must be formally classified based on the rules in the Texas Probate Code. Your Woodlands Probate Attorney will help guide you through the process to fulfill your obligations to the Probate Court. The Classification of Claims requirement is a step Executors in a Dependent Administration must complete as well as Independent Executors.
Claims against a Woodlands Probate estate are classified and have priority of payment, as follows:
Class 1. Funeral expenses and expenses of last sickness for a reasonable amount to be approved by the court, not to exceed a total of Fifteen Thousand Dollars, with any excess to be classified and paid as other unsecured claims.
Class 2. Expenses of administration and expenses incurred in the preservation, safekeeping, and management of the estate, including fees and expenses awarded under portions of the Probate Code, and unpaid expenses of administration awarded in a guardianship of the decedent.
Class 3. Secured claims for money under Section 306(a)(1), including tax liens, so far as the same can be paid out of the proceeds of the property subject to such mortgage or other lien, and when more than one mortgage, lien, or security interest shall exist upon the same property, they shall be paid in order of their priority.
Class 4. Claims for the principal amount of and accrued interest on delinquent child support and child support arrearages that have been confirmed and reduced to money judgment, as determined under Subchapter F, Chapter 157, Family Code, and claims for unpaid child support obligations under Section 154.015, Family Code.
Class 5. Claims for taxes, penalties, and interest due under Title 2, Tax Code; Chapter 8, Title 132, Revised Statutes; Section 81.111, Natural Resources Code; the Municipal Sales and Use Tax Act (Chapter 321, Tax Code); Section 451.404, Transportation Code; or Subchapter I, Chapter 452, Transportation Code.
Class 6. Claims for the cost of confinement established by the institutional division of the Texas Department of Criminal Justice.
Class 7. Claims for repayment of medical assistance payments made by the state to or for the benefit of the decedent.
Class 8. All other claims.
Formally classifying claims against the estate is a vital legal obligation for the Executor of an estate. Speak with a Woodlands Probate Attorney today if you need assistance with a probate matter in The Woodlands or anywhere in Montgomery County.
TheWoodlandsProbate.com is here to help you solve your probate matter in The Woodlands, TX or other communities in Montgomery County. If you need assistance, call Attorney Richard Shea at (832) 426-3913.