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 Glenwood Springs, 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 guarantee that the estate is properly administered.

The executor is often the person who will get the most money or property out of the will if it is given effect, because this is the person who will have the greatest incentive to see that the probate process goes as rapidly as possible.

What if The Will Does Not Name an Executor?

If a will in Glenwood Springs, Colorado 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.

This is most often the person who stands to gain the most from the will, or who would inherit the most under Colorado'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 Glenwood Springs, Colorado can apply to the court to be the executor.

Whoever is assigned 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.

Can a Glenwood Springs, Colorado Estate Administration Attorney Help?

If you are the administrator of an estate, and are not a legal and/or financial professional, you might encounter legal or tax issues with which you are unfamiliar. A Glenwood Springs, Colorado attorney would be very helpful in such a situation.