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 Fairfield, Iowa, the process will play out according to the instructions mentioned in the will.
The decedent normally 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 is normally whoever stands to obtain the most money or property if the will is given effect, since that is the person who likely has the most incentive to do their part in seeing that the probate process plays out to completion.
What if The Will Does Not Name an Executor?
If a will in Fairfield, Iowa does not name a person to serve as executor, or the decedent dies without having written a will, the court will appoint a person to act as estate administrator.
This is most commonly 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 govern how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
When a will is silent as to who should be the executor, any person who has some direct interest in the outcome can ask to be named executor by the Fairfield, Iowa court.
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 protect the estate's interests as they would their own.
Can a Fairfield, Iowa Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might face legal or tax issues with which you are unfamiliar. A Fairfield, Iowa attorney would be extremely helpful in such a situation.