Estate Administration in Huntington Park, California
Estate administration, in basic terms, is the process of maintenance and distribution of a person's assets after they die.
If the decedent had the foresight to draft and execute a will in Huntington Park, California, the estate is usually administered in a way that follows the instructions the will lays out, as closely as possible.
The decedent normally names in the will an executor of his or her estate. The executor is the person whose job it is to take the lead role in the administration of an estate.
The person named as executor of an estate normally has some work ahead of them. To ensure that they really follow through on their obligations, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a will in Huntington Park, California does not name a person to serve as executor, or the decedent dies without having written a will, the court will appoint a person to act as estate administrator.
This is most commonly the person who stands to gain the most from the will, or who would inherit the most under California's intestacy laws. Intestacy is the system that every state has in order to deal with the property of people who die without a will. It normally distributes the property to the closest living relatives of the decedent, assuming they can be located.
If the will doesn't name anyone as executor, or the person who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Huntington Park, California can apply to the court to be the executor.
Whoever is appointed 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 Huntington Park, California Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might face legal or tax issues with which you are unfamiliar. A Huntington Park, California attorney would be extremely helpful in such a situation.