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 Le Mars, Iowa, the process will play out according to the instructions specified in the will.
Usually, 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 usually 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 Le Mars, Iowa 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 often the person who stands to gain the most from the will, or who would inherit the most under Iowa's intestacy laws. Intestacy is the system that every state has in order to deal with the property of people who die without a will. It usually distributes the property to the closest living relatives of the decedent, assuming they can be located.
If the will doesn't name anyone as executor, or the person who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Le Mars, Iowa can apply to the court to be the executor.
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 Le Mars, Iowa Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might encounter legal or tax issues with which you are unfamiliar. A Le Mars, Iowa attorney would be very helpful in such a situation.