"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 Elkhart Indiana will normally be carried out according to the instructions in the will.
Wills usually name an executor. The executor's role revolves around ensuring that the instructions in the will are implemented.
The person named as executor of an estate normally has some work ahead of them. To ensure that they really 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 an Elkhart, Indiana 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 commonly the person who stands to gain the most from the will, or who would inherit the most under Indiana'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 normally distributes the property to the closest living relatives of the decedent, assuming they can be located.
In cases where the will doesn't name an executor, or the person named is unable to take on that role for whatever reason, any person who has some direct stake in the decedent's estate (either because they're named in the will or stand to inherit by intestacy) can petition an Elkhart, Indiana court to be appointed executor.
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 Elkhart, Indiana Estate Administration Attorney Help?
Some people are surprised when they find out they've been named the executor of a relative's estate. The responsibilities can seem daunting, but with the help of a brilliant Elkhart, Indiana attorney, the process almost always goes pretty smoothly.