Texas Estates Code

§ 305.152 — EVIDENTIARY HEARING ON AMOUNT OF BOND

ES § 305.152Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part G. INITIAL APPOINTMENT OF PERSONAL REPRESENTATIVE AND OPENING OF ADMINISTRATION · Ch. 305. QUALIFICATION OF PERSONAL REPRESENTATIVES · Art. D. AMOUNT OF BOND AND ASSOCIATED DEPOSITS

Statute text

View on source

Before setting the amount of a bond, the court shall hear evidence and determine:

(1)the amount of cash on hand and where that cash is deposited;

(2)the amount of cash estimated to be needed for administrative purposes, including operation of a business, factory, farm, or ranch owned by the estate, and expenses of administration for one year;

(3)the revenue anticipated to be received in the succeeding 12 months from dividends, interest, rentals, or use of property belonging to the estate and the aggregate amount of any installments or periodic payments to be collected;

(4)the estimated value of certificates of stock, bonds, notes, or other securities of the estate and the name of the depository, if any, in which those assets are deposited;

(5)the face value of life insurance or other policies payable to the person on whose estate administration is sought or to the estate;

…

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.