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 White Hall, Arkansas, the process of estate administration normally follows the procedures and instructions laid out in the will.
Most often, a will names a person to serve as executor, whose job it is to guarantee that the estate is properly administered.
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 White Hall, Arkansas 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.
Normally, the person chosen to be executor is the one who would benefit most under the will, or under Arkansas's intestacy laws. "Intestacy" refers to a situation in which a person dies without a will, or "dies intestate." Every state has laws to address this situation, and there isn't a lot of variation from state to state. Normally, the decedent's property will go to his or her closest relative, and if absolutely no living relatives can be found, it will go to the state.
If the will doesn't name a person who is to serve as executor, or the individual named is no longer alive or cannot be found, anyone with a direct interest in the will can apply to the White Hall, Arkansas court to be the executor.
Once an executor is assigned (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to safeguard its interests to the fullest extent possible. They further are obligated to accurately inventory the estate's debts and assets, as well as notify possible beneficiaries.
Can a White Hall, Arkansas Estate Administration Attorney Help?
Some people are surprised when they find out they've been named the executor of a relative's estate. The responsibilities can seem daunting, but with the help of a seasoned White Hall, Arkansas attorney, the process almost always goes pretty smoothly.