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 Panama Beach, Florida, the process will be carried out according to the directives included in the will, assuming they are legitimate and enforceable.
Normally, wills assign 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 commonly 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 rapidly as possible.
What if The Will Does Not Name an Executor?
If a Panama Beach, Florida will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is most commonly 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 govern 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 share in the will can apply to the court in Panama Beach, Florida to be the executor of the estate, if they wish.
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 safeguard the estate's interests as they would their own.
Can a Panama Beach, Florida 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 seasoned Panama Beach, Florida wills and trusts attorney.