Estate Administration in Winfield, Alabama
Estate administration, in basic terms, is the procedure of maintenance and distribution of a person's assets after they die.
If the person who died made and executed a valid will in Winfield, Alabama, the process of estate administration normally follows the procedures and instructions laid out in the will.
Wills usually name an executor. The executor's role revolves around guaranteeing that the instructions in the will are implemented.
The executor typically has at least some work cut out for them. This evidently raises the issue of compensation. The easiest way to guarantee that the executor does his or her job is simply to appoint the person who has the most to gain from the will. That way, they cannot inherit until the process is finalized.
What if The Will Does Not Name an Executor?
If a will in Winfield, Alabama does not name a person to serve as executor, or the decedent dies without having written a will, the court will assign a person to act as estate administrator.
This is most commonly the person who would inherit most under the will, or under the intestacy scheme of Alabama. Intestacy is when a person dies without having made a will, or if a will turns out to be invalid. The intestacy laws of each state govern how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
When a will is silent as to who should be the executor, any individual who has some direct interest in the result can ask to be named executor by the Winfield, Alabama court.
Whoever is assigned to serve as executor, it is their job to act as the representative of the estate. Among other jobs, they have to account for the decedent's debts and assets, and inform any beneficiaries who might be unaware of the situation.
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Can a Winfield, Alabama Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial intricacies that may arise, an accomplished Winfield, Alabama lawyer can make this process a great deal easier.