Sec. 353.055. METHOD OF PAYING ALLOWANCE IN LIEU OF EXEMPT PROPERTY. (a) An allowance in lieu of any exempt property shall be paid in the manner selected by the decedent's surviving spouse or children of legal age, or by the guardian of the decedent's minor children, or by the guardian of each adult incapacitated child or other appropriate person, as determined by the court, if there is no guardian, as follows:
(1) in money out of estate funds that come into the executor's or administrator's possession;
(2) in any of the decedent's property or a part of the property chosen by those individuals at the appraisement; or
(3) part in money described by Subdivision (1) and part in property described by Subdivision (2).
(b) Property specifically devised to another may be taken as provided by Subsection (a) only if other available property is insufficient to pay the allowance.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 810 (H.B. 2492), Sec. 2.05, eff. January 1, 2014.
Section: Previous 353.001 353.051 353.052 353.053 353.054 353.055 353.056 353.101 353.102 353.103 353.104 353.105 353.106 353.107 353.151 NextLast modified: September 28, 2016