Estate administration, in basic terms, is the procedure of maintenance and distribution of a person's assets after they die.
If the decedent has made a will in Clive, 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 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 finalized.
What if The Will Does Not Name an Executor?
If a Clive, Iowa 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 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 the will doesn't name a person who is to serve as executor, or the individual named is no longer alive or cannot be found, anyone with a direct interest in the will can apply to the Clive, Iowa 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 Clive, Iowa 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 Clive, Iowa attorney, the process almost always goes pretty smoothly.