Even Billionaire Simmons’ Estate Is Accountable For Probate in Texas

When someone who passes away leaves a valid will, all estates and properties will be open to legal procedures to ensure fairness and impartiality upon its execution.

Texas Billionaire

A local NBC News reports on how a probate court recognizes the will made by billionaire Harold Simmons and how the court accepts the executor of the will by allowing individual administration:

“Texas billionaire Harold Simmons made his wife the sole beneficiary of his estate, listing no political or charitable contributions in a will made public Monday.

A Dallas probate judge ordered the release of a redacted version of Simmons’ will, signed about three weeks before his Dec. 28 death.

Simmons was an East Texas native who eventually turned his investment in a single Dallas pharmacy into a corporate empire with interests ranging from metals to a nuclear waste dump. The will does not disclose the value of his estate, but lists Annette Simmons as the recipient of his savings, personal and household effects, and properties in Texas, California and Arkansas.”

Every estate of a person who passed away is subject to a proper probate in Texas. In the article’s instance, the decedent, Harold Simmons, left a valid will, which makes the beneficiary undergo probate of will as muniment of title, otherwise known as the evidence indicating ownership of asset. This means that the inheritor recognize Annette Simmons needs the court to acknowledge her as the sole heir of all estates her late husband left behind.

All documents that undergo through probate courts, like estate properties and bank accounts, become public: virtually anyone can see the archives without restrictions. However, in Simmons’ case, the court released censored documents to keep sensitive information private, as disclosing them may invade the family’s safety and privacy.

Besides the muniment of title, there is another procedure called individual administration, where an executor is authorized to administer the estate. In case of a will or trust contest, individuals can turn to reputable probate attorneys who can help and guide them about proper court proceedings and other courses of action, like filings records of various kinds of properties.

(Source: Texas Billionaire Harold Simmons’s Redacted Will Released, NBC News (DFW), 3 February 2014)