Respectfully Submitted by Patricia D. Henderson
Family Settlement Agreements are favored by Texas courts. They will not be disturbed for ordinary mistake either of law or fact and will be upheld by the Texas courts. In a family settlement, the parties must have the same knowledge or means of obtaining knowledge and there is no fraud, misrepresentation, concealment, or conduct otherwise inequitable on the part of another party.
It is not necessary that the parties to a Settlement Agreement receive property equal in value to what they would have received under the Will. Family Settlement are not limited to the Will beneficiaries and can include an heir not named in the Will.
Family Settlement Agreements are considered an alternative method of administration in Texas that is a favorite of the law... the beneficiaries of the estate are free to arrange among themselves for the distribution of the estate and for the payment of expenses from the estate.
