In Waterville, Maine, probate is the procedure in which a court validates or voids a will.
As part of the probate procedure, the court in Waterville, 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 often name a person as the executor of the estate. If not, the court in Waterville, 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 person accountable for initiating the probate proceedings. The person who would inherit the most from the will is appointed, because they have the greatest inducement to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Waterville, Maine
The executor has several duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be finalized before the will is given effect.
They also are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, usually by filing a death certificate.
Executors are also required to make accessible an accounting of the testator's debts and assets, so their affairs can be wound up, along with a list of everybody who is named in the will, or otherwise stands to inherit.
As the representative of the estate, the executor has to take charge of the probate process, filing the necessary 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 complete, they'll probably find it to be worth the time and expense.
How Can A Waterville, Maine Lawyer Help?
Because of the complexities inherent in the probate process, it is a good idea to hire an experienced Waterville, Maine probate lawyer, particularly for the executors of estates.