"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 Lake Station Indiana will typically be carried out according to the instructions in the will.
Most frequently, a will names a person to serve as executor, whose job it is to ensure that the estate is properly administered.
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 a will in Lake Station, Indiana is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
Typically, this will be the person who has the most to acquire 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).
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 Lake Station, Indiana court.
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 Lake Station, Indiana Estate Administration Attorney Help?
If you have unexpectedly been appointed to be the executor of a relative's estate, and don't know how to handle this process, you should speak with a knowledgeable Lake Station, Indiana wills and trusts attorney.