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 Wheat Ridge, 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 typically whoever stands to obtain the most money or property if the will is given effect, since that is the person who likely has the most incentive to do their part in seeing that the probate process plays out to completion.
What if The Will Does Not Name an Executor?
If a will in Wheat Ridge, Colorado does not name a person to serve as executor, or the decedent dies without having written a will, the court will appoint a person to act as estate administrator.
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.
When a will is silent as to who should be the executor, any person who has some direct interest in the outcome can ask to be named executor by the Wheat Ridge, Colorado court.
Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be responsible for taking account of all of the decedent's assets and debts, as well as notifying beneficiaries who may be estranged from the decedent, among other things.
Can a Wheat Ridge, Colorado Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial difficulties that may arise, an efficient Wheat Ridge, Colorado lawyer can make this process a great deal easier.