"Estate administration" refers to the process which must be followed when the estate of a person who has recently died is being distributed, either according to his or her wishes as laid out in a will, or the laws governing the distribution of the assets of a person who dies without a will.
If the decedent (the person who died) left a will, the process of estate administration in Riverside Illinois will usually be carried out according to the instructions 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 person named as executor of an estate usually has some work ahead of them. To ensure that they actually follow through on their obligations, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a Riverside, Illinois will does not name an executor, or no will exists or can be found, it's up to the local court to decide who should be the executor.
This is most often 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 usually distributes the property to the closest living relatives of the decedent, assuming they can be located.
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 Riverside, Illinois court.
Once an executor is appointed (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to protect its interests to the fullest extent possible. They also are required to accurately inventory the estate's debts and assets, as well as notify potential beneficiaries.
Can a Riverside, Illinois 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 Riverside, Illinois attorney would be very helpful in such a situation.