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 Buffalo Grove, Illinois, the process will play out according to the instructions stated in the will.
Wills normally name an executor. The executor's role revolves around guaranteeing that the instructions in the will are implemented.
The executor is frequently 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 will in Buffalo Grove, Illinois is silent as to who should be the executor, it is up to the court to determine who should serve in that capacity.
This is most frequently the person who would inherit most under the will, or under the intestacy scheme of Illinois. 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 control 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 individual who has some direct interest in the result can ask to be named executor by the Buffalo Grove, Illinois court.
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 Buffalo Grove, Illinois Estate Administration Attorney Help?
If you find yourself named in a will as executor of an estate, and aren't sure how to meet your responsibilities, or where to begin, it would be a good idea to consult with an efficient Buffalo Grove, Illinois lawyer who can help you navigate this sometimes-convoluted process.
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