"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 had the foresight to draft and execute a will in Bowling Green, Kentucky, the estate is typically administered in a way that follows the instructions the will lays out, as closely as possible.
Often, the will appoints an executor whose job it is to oversee the administration of the will.
The person named as executor of an estate usually has some work ahead of them. To ensure that they actually follow through on their commitments, 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 Bowling Green, Kentucky will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is most often the person who stands to gain the most from the will, or who would inherit the most under Kentucky'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 usually distributes the property to the closest living relatives of the decedent, assuming they can be located.
If no executor is named in the will, anyone with a share in the will can apply to the court in Bowling Green, Kentucky to be the executor of the estate, if they wish.
Whoever is assigned 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 Bowling Green, Kentucky 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 reputable Bowling Green, Kentucky wills and trusts attorney.