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 Homer, Alaska, the process of estate administration usually follows the procedures and instructions laid out in the will.
Usually, wills assign an executor who is responsible for overseeing the administration of the estate, and seeing that its provisions are carried out, to the extent possible.
The executor is usually the person who stands to inherit the most money or property from the will, since this individualn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If a Homer, Alaska will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is most often the person who stands to gain the most from the will, or who would inherit the most under Alaska'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 usually 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 individual who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Homer, Alaska can apply to the court to be the executor.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, utilizing all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Homer, Alaska 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 complexities that may arise, an experienced Homer, Alaska lawyer can make this process a great deal easier.