"Estate administration" refers to the process 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 governing the distribution of the assets of a person who dies without a will.
If the decedent has made a will in Otsego, Minnesota, the process will play out according to the instructions specified in the will.
Wills typically name an executor. The executor's role revolves around ensuring that the instructions in the will are implemented.
The executor is usually the person who stands to inherit the most money or property from the will, since this personn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If an Otsego, Minnesota will does not appoint anyone to serve as executor, or there is no will, the court has to choose someone to fill that role.
Usually, the person chosen to be executor is the one who would benefit most under the will, or under Minnesota's intestacy laws. "Intestacy" refers to a situation in which a person dies without a will, or "dies intestate." Every state has laws to address this situation, and there isn't a lot of variation from state to state. Usually, the decedent's property will go to his or her closest relative, and if absolutely no living relatives can be found, it will go to the state.
If the will doesn't name anyone as executor, or the person who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Otsego, Minnesota can apply to the court to be the 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 protect the estate's interests as they would their own.
Can a Otsego, Minnesota 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. An Otsego, Minnesota attorney would be very helpful in such a situation.