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 Carol Stream, 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 ensuring 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 quickly as possible.
What if The Will Does Not Name an Executor?
If the will in Carol Stream, Illinois does not name an executor, or the decedent left no will to be found, the court has to appoint a person to serve as the administrator of the estate.
This is most frequently the person who stands to gain the most from the will, or who would inherit the most under Illinois'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 typically distributes the property to the closest living relatives of the decedent, assuming they can be located.
If no executor is named in the will, anyone with a stake in the will can apply to the court in Carol Stream, Illinois to be the executor of the estate, if they wish.
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 Carol Stream, Illinois 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 difficulties that may arise, an efficient Carol Stream, Illinois lawyer can make this process a great deal easier.