Estate administration, in basic terms, is the process of maintenance and distribution of a person's assets after they die.
If the decedent has made a will in Cherokee, Iowa, the process will play out according to the instructions specified in the will.
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 ensure 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 finished.
What if The Will Does Not Name an Executor?
If a Cherokee, Iowa 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 often the person who would inherit most under the will, or under the intestacy scheme of Iowa. 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 determine 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 Cherokee, Iowa to be the executor of the estate, if they wish.
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 Cherokee, Iowa 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 complexities that may arise, an experienced Cherokee, Iowa lawyer can make this process a great deal easier.