The cost of filing for probate may cost more than the balance in the account. Is there any other way for my mother to get that money?

Q: My father died recently with a will leaving everything to my 93-year-old mother, who is also named as his executor. Other than a very small joint checking account that passed to my mother, the only other asset is a $300 savings account in my father's name. The bank is requiring letters testamentary in order for my mother to withdraw the funds. I’m almost certain the cost of filing for probate will cost more than the balance in the account. Is there any other way for my mother to get that money?

A: If the checking account and savings account are at the same bank and both appear when you log on to the bank's website or app, you could try moving most or all of the money to the checking account.

Of course, the bank may have frozen the savings account after you began asking about how to get access to the money.

Article continues below this ad

Eventually, the bank will turn the money over to the Texas comptroller's unclaimed property registry, where you may be able to access it.

Q: In your Feb. 27 column, you said the transfer on death deed form at the texaslawhelp.org website was not an official state form and is being updated by the Texas Supreme Court. Will that website say when it is updated and official? Also, we have wills prepared by an attorney but need medical powers of attorney and financial powers of attorney. Are these updated and "official" on that website?

A: Once the new Texas transfer on death deed form is officially adopted and certified for use by the Texas Supreme Court, the texaslawhelp.org website will add it and indicate that it is the new form. Please note, however, that I was recently told the Texas Supreme Court's review process may take years.

The medical powers of attorney and financial powers of attorney on the website are the most current statutory forms.

Q: Years ago, my wife and I bought a home for our son, who lives there and pays us rent. In my will, I leave it to him, but is that the best way to ensure the transfer, since both my wife and I are owners? I want to leave him the whole house, not just my half.

Article continues below this ad

A: You can give away only what you own.

Your wife can do what she wants with her half, meaning she can give it to her son if that is her desire.

For you to own the entire home, you and your wife could partition assets so that you get the home and she gets other assets of equal value.

The two of you could also give him the home now before you die.

Article continues below this ad

Talk to an attorney about your options.

The information in this column is intended to provide a general understanding of the law, not legal advice. Ronald Lipman of the Houston law firm Lipman & Associates is board-certified in estate planning and probate law by the Texas Board of Legal Specialization. Email questions to: stateyourcase@lipmanpc.com.