"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 Franklin 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 a will in Franklin, Indiana is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
Normally, this will be the person who has the most to receive from the will, or who would gain the most under Indiana's intestacy scheme (the system that distributes the decedent's property to his or her closest living relatives, if he or she dies without a will).
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 a Franklin, Indiana court to be appointed executor.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, using all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Franklin, Indiana Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might face legal or tax issues with which you are unfamiliar. A Franklin, Indiana attorney would be extremely helpful in such a situation.