"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 Terre Haute Indiana will usually be carried out according to the instructions in the will.
Most commonly, a will names a person to serve as executor, whose job it is to ensure that the estate is properly administered.
The executor generally has at least some work cut out for them. This obviously raises the issue of compensation. The easiest way to ensure that the executor does his or her job is simply to appoint the person who has the most to gain from the will. That way, they cannot inherit until the process is finished.
What if The Will Does Not Name an Executor?
If a Terre Haute, Indiana 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 would inherit most under the will, or under the intestacy scheme of Indiana. Intestacy is when a person dies without having made a will, or if a will turns out to be invalid. The intestacy laws of each state determine how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
If no executor is named in the will, anyone with a stake in the will can apply to the court in Terre Haute, Indiana 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 Terre Haute, 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 good Terre Haute, Indiana wills and trusts attorney.