"Estate administration" refers to the procedure 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 regulating 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 Wabash 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 guarantee that the estate is properly administered.
The executor is usually whoever stands to acquire the most money or property if the will is given effect, since that is the person who likely has the most incentive to do their part in seeing that the probate process plays out to completion.
What if The Will Does Not Name an Executor?
If a will in Wabash, Indiana does not name a person to serve as executor, or the decedent dies without having written a will, the court will assign a person to act as estate administrator.
This is typically the person who will benefit the most if the will is executed. If there is no will (a situation known as "intestacy"), Indiana has a system of laws distributing the decedent's property to his or her closest living relative. In such a case, the closest living relative has the most to gain from an orderly administration of the estate, so they will typically be appointed.
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 share in the decedent's estate (either because they're named in the will or stand to inherit by intestacy) can petition a Wabash, Indiana court to be assigned executor.
When the executor is chosen, they serve as a sort of incarnation of the decedent's estate - the estate's legal interests become the executor's interests, and the executor is expected to safeguard the estate's interests as they would their own.
Can a Wabash, Indiana 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 Wabash, Indiana attorney would be very helpful in such a situation.