McKinney, Texas – December 1, 2016. Burdette & Rice, the largest probate litigation law firm in Dallas and North Texas, is proud to announce that the firm began participation in a jury trial in McKinney, Texas, in the Collin County Probate Court. (Collin County is just north of Dallas, Texas.) The firm’s client asserts that the Will being sought for admission to probate was signed only because of improper undue influence brought against the testator (the person who made the Will). Continue reading
January 9, 2016 – Dallas, Texas. Burdette & Rice of Dallas, Texas, announces that highly regarded and experienced Texas litigation attorney, Murray W. Camp, will join the firm in January, 2016. Burdette & Rice is known as one of the top probate litigation law firms in Texas; the new attorney’s skills will complement the firm’s existing expertise in litigation. Continue reading
Burdette & Rice, a Dallas law firm specializing in Texas probate litigation, is proud to announce the firm’s successful participation in the recent Avvo conference under the leadership of Elliott Burdette, as part of an ongoing effort to keep the firm’s delivery of legal services consistent with the expectations of clients in 2015. Continue reading
March 31, 2015 – Dallas, Texas. Burdette & Rice is proud to announce that Mark Caldwell, a Texas Board Certified Estate and Probate Attorney and one of the firm’s top-rated Dallas, Texas, probate and estate dispute attorneys, co-presented an informative paper on “Small Estate Affidavits” with Judge John Peyton, Continue reading
Many Texas residents and those with relatives who pass away in Texas may, unfortunately, end up in probate disputes. If there is a possibility of an estate dispute under Texas law, the Court may require the estate representative to secure a bond. In the event that the parties dispute the estate, the bond functions as insurance for the estate’s value. This blog post is an informal explanation.
When people usually think of bonds in court cases, they think of someone making an unfortunate call from the jailhouse. We use bonds in probate cases as well. In probate cases, bonds are used as a type of insurance, protecting against damaged or lost estate property, and to protect creditors who have valid claims.
When someone passes away and a representative is appointed to handle the estate, in many cases, the probate court must order the representative to obtain a bond. Similarly, when someone is declared to be incapacitated in a guardianship proceeding, and the court appoints a guardian to handle that person’s property, the guardian must obtain a bond.
In both a decedent’s estate and a guardianship estate, the amount of the bond is determined by the value of the property subject to administration. Not all property factors into the bond amount – the value of real property does not affect the bond amount. Also, the amount of monthly income, and any debts owed by the estate, affects the amount of the bond.
When an estate representative or guardian mismanaged or misapplied estate property and harms the estate, then it is possible for an interested person to sue the representative or guardian, and if the lawsuit is successful, recover against the amount of the bond, so that the bond company must pay any judgment awarded.
This blog post has explained probate bonds and their function during estate disputes under Texas law. If you are facing possible litigation surrounding an estate, please reach out to one of our top Dallas, Texas, probate lawyers for an initial phone consultation. Each situation is unique, and a consultation with a probate attorney can illuminate your possible legal options.