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 Monte Vista, 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 ensure 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 quickly as possible.
What if The Will Does Not Name an Executor?
If a will in Monte Vista, 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 frequently 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 control 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 Monte Vista, 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 Monte Vista, Colorado Estate Administration Attorney Help?
If you have unexpectedly been appointed to be the executor of a relative's estate, and don't know how to handle this process, you should speak with a knowledgeable Monte Vista, Colorado wills and trusts attorney.