"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 Thibodaux, Louisiana, the estate is typically administered in a way that follows the instructions the will lays out, as closely as possible.
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 Thibodaux, Louisiana is silent as to who should be the executor, it is up to the court to determine who should serve in that capacity.
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"), Louisiana 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.
If no executor is named in the will, anyone with a share in the will can apply to the court in Thibodaux, Louisiana to be the executor of the estate, if they wish.
Once an executor is assigned (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to safeguard its interests to the fullest extent possible. They further are obligated to accurately inventory the estate's debts and assets, as well as notify possible beneficiaries.
Can a Thibodaux, Louisiana Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial complexities that may arise, an experienced Thibodaux, Louisiana lawyer can make this process a great deal easier.