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 Manitou Springs, Colorado, the estate is normally administered in a way that follows the instructions the will lays out, as closely as possible.
Most frequently, a will names a person to serve as executor, whose job it is to guarantee that the estate is properly administered.
The executor is frequently 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 Manitou Springs, Colorado is silent as to who should be the executor, it is up to the court to determine who should serve in that capacity.
Typically, the person chosen to be executor is the one who would benefit most under the will, or under Colorado'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. Typically, 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 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 Manitou Springs, Colorado can apply to the court to be the 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 safeguard the estate's interests as they would their own.
Can a Manitou Springs, 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 reliable Manitou Springs, Colorado attorney, the process almost always goes pretty smoothly.