George Teague Succession Updates
Updated October 8, 2024
A comprehensive guide to the succession process for the George Teague Estate, detailing the steps from beginning to end.
Step 1: Administration Rights
Step 2: Assets Consolidation
Step 3: Interim Account
Step 4: Beneficiary Split
Step 1: Administration Rights

- Obtain signatures for all siblings /or legally designated representatives
- File a petition with the court for either regular or independent administration rights
- Once all signature has been obtained, this process can take up to 3 months due to court closures during the upcoming holiday season
Regular | Independent |
Requires a bond with fee of 10% | Requires all signatures |
Will need judge to approve for each step | Lawyer has ability to move forward with next steps and best practices |
Additional Fees: Court fee TBD/ per step Curator fee $200/ per step Lawyer court fee $500/ per step | No additional fees |
Step 2: Asset Consolidation
- Estate will have to acquire a Tax ID account
- An estate account is opened
- All accounts are ACH deposited in to the estate account
- Due to his wallet with identification, bank cards, and keys not being recovered at the time of death, an investigating will be conducted before proceeding to the next step
- Statements will be examined to ensure that assets were not accessed illegally after or days prior to date listed on death certificate
Step 3: Interim Account
- List all assets is gathered
- Calculate tax & insurance on 301 Hanson
- Consensus & policy written for property care, property taxes & home insurance
- Pay remaining Lawyer balance of $1,000 (can be higher depending on admin choice in step 1)
- Calculate Reimbursement for lawyer retainer fee of $1,500 and other documented expenses
Step 4: Beneficiary Split
- Checks are cut to every 5 siblings and 1 sibling heir