Estate administration, in basic terms, is the procedure of maintenance and distribution of a person's assets after they die.
If the decedent wrote a will before his or her death in Altamonte Springs, Florida, the process will be carried out according to the directives included in the will, assuming they are legitimate and enforceable.
The decedent usually names in the will an executor of his or her estate. The executor is the person whose job it is to take the lead role in the administration of an estate.
The executor generally has at least some work cut out for them. This obviously raises the issue of compensation. The easiest way to guarantee that the executor does his or her job is simply to appoint the person who has the most to gain from the will. That way, they cannot inherit until the process is done.
What if The Will Does Not Name an Executor?
If a will in Altamonte Springs, Florida 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.
Usually, the person chosen to be executor is the one who would benefit most under the will, or under Florida'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. Usually, 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 Altamonte Springs, Florida can apply to the court to be the executor.
Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be accountable 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 Altamonte Springs, Florida 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 reputable Altamonte Springs, Florida attorney, the process almost always goes pretty smoothly.