Estate administration, in basic terms, is the process of maintenance and distribution of a person's assets after they die.
If the decedent wrote a will before his or her death in Lake City, Florida, the process will be carried out according to the directives contained in the will, assuming they are valid and enforceable.
Typically, wills appoint an executor who is responsible for overseeing the administration of the estate, and seeing that its provisions are carried out, to the extent possible.
The executor is typically the person who stands to inherit the most money or property from the will, since this personn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If a Lake City, Florida will does not appoint anyone to serve as executor, or there is no will, the court has to choose someone to fill that role.
This is most frequently the person who would inherit most under the will, or under the intestacy scheme of Florida. 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 no executor is named in the will, anyone with a stake in the will can apply to the court in Lake City, Florida to be the executor of the estate, if they wish.
Whoever is appointed to serve as executor, it is their job to act as the representative of the estate. Among other jobs, they have to account for the decedent's debts and assets, and inform any beneficiaries who might be unaware of the situation.
Can a Lake City, 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 knowledgeable Lake City, Florida attorney, the process almost always goes pretty smoothly.