Respectfully Submitted by Patricia D. Henderson
The procedure to probate a Will as a Muniment of Title requires proof that four (4) years has not elapsed since the testator's death. However, a Will can probated after four (4) years if the party "was not in default" in failing to offer the Will for probate within the four (4) year period. General proof when an applicant seeks to probate the Will as a Muniment of Title is required. Proof that the person is dead, the court has jurisdiction and venue over the estate and there are no unpaid debts.
Once the applicant receives the muniment order from the court, they can use the order to collect bank accounts in the decedent's name etc; thus serving the same function as Letters of Testamentary. This procedure greatly reduces the cost of probate, primarily because it eliminates the necessity of filing an inventory of the estate. Muniment of Title works because third parties, title insurance companies and oil and gas landmen as well as Texas banks, honor this type of probate. In theory, the procedure should work with out of state stock transfer agents as well. I have found however, that stock transfer agents in other jurisdictions (e.g. New York and Chicago) are not familiar with this type of probate and have refused to re-register securities without letters testamentary from the court. I always advise clients to get in writing what the agents will accept and what is not acceptable before I begin the probate procedure.
