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 Sheridan, 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 Sheridan, Colorado will does not name an executor, or no will exists or can be found, it's up to the local court to decide who should be the executor.
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.
If the will doesn't name a person who is to serve as executor, or the person named is no longer alive or cannot be found, anyone with a direct interest in the will can apply to the Sheridan, Colorado court to be the executor.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, using all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Sheridan, Colorado Estate Administration Attorney Help?
If you find yourself named in a will as executor of an estate, and aren't sure how to meet your responsibilities, or where to begin, it would be a good idea to consult with an efficient Sheridan, Colorado lawyer who can help you navigate this sometimes-confusing process.