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 Commerce City, Colorado, the estate is typically administered in a way that follows the instructions the will lays out, as closely as possible.
Most commonly, a will names a person to serve as executor, whose job it is to ensure that the estate is properly administered.
The executor is usually the person who stands to inherit the most money or property from the will, since this personn 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 will in Commerce City, Colorado is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
This is most often the person who would inherit most under the will, or under the intestacy scheme of Colorado. 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 determine how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
In cases where the will doesn't name an executor, or the person named is unable to take on that role for whatever reason, any person who has some direct stake in the decedent's estate (either because they're named in the will or stand to inherit by intestacy) can petition a Commerce City, Colorado court to be appointed executor.
When the executor is chosen, they serve as a sort of incarnation of the decedent's estate - the estate's legal interests become the executor's interests, and the executor is expected to protect the estate's interests as they would their own.
Can a Commerce City, Colorado 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 good Commerce City, Colorado attorney, the process almost always goes pretty smoothly.