Estate Administration in Calabasas, California
Estate administration, in basic terms, is the procedure 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 Calabasas, 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 executor is normally 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 Calabasas, California 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 usually the person who will benefit the most if the will is executed. If there is no will (a situation recognized as "intestacy"), California has a system of laws distributing the decedent's property to his or her closest living relative. In such a case, the closest living relative has the most to gain from an orderly administration of the estate, so they will usually be appointed.
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 Calabasas, California can apply to the court to be the executor.
Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be accountable for taking account of all of the decedent's assets and debts, as well as notifying beneficiaries who may be estranged from the decedent, among other things.
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Can a Calabasas, California 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 Calabasas, California attorney, the process almost always goes pretty smoothly.