In New Gloucester, Maine, probate is the procedure in which a court validates or voids a will.
As part of the probate procedure, the court in New Gloucester, Maine will decide the validity of the will, inventory the decedent's assets and debts, then, assuming everything is deemed to be in order, distribute the estate according to the will.
Wills frequently name a person as the executor of the estate. If not, the court in New Gloucester, Maine will name one. This is most often the adult individual who stands to inherit the most funds or property from the will.
The executor is the individual who initiates probate proceedings. The person who stands to inherit the most from the will is typically appointed the executor, because they will have the most incitement to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in New Gloucester, Maine
The executor has many duties regarding the will. First, they have to truly initiate the probate proceedings, which must be finalized before the will is effectuated.
Additionally, it's the executor's job to notify all affected parties that the person who made the will has died. "Interested parties" are usually people who are named in the will, or who would inherit the estate if the decedent had died without a will.
The executor will also have to collect and make accessible a list of all of the decedent's debts and assets, as well as a list of those who stand to inherit from the decedent.
As the representative of the estate, the executor has to take charge of the probate process, filing the proper court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is done, they'll probably find it to be worth the time and expense.
How Can A New Gloucester, Maine Lawyer Help?
Because this can be (though isn't always) a fairly complicated process, it's a good idea to get a reliable probate lawyer in New Gloucester, Maine, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.