"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 has made a will in Princeton, Minnesota, the process will play out according to the instructions mentioned in the will.
Wills usually name an executor. The executor's role revolves around guaranteeing that the instructions in the will are implemented.
The executor is normally the person who stands to inherit the most money or property from the will, since this individualn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If a will in Princeton, Minnesota 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 usually the person who will benefit the most if the will is executed. If there is no will (a situation recognized as "intestacy"), Minnesota 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 usually be appointed.
In cases where the will doesn't name an executor, or the person named is unable to take on that role for whatever reason, any person who has some direct share in the decedent's estate (either because they're named in the will or stand to inherit by intestacy) can petition a Princeton, Minnesota court to be assigned executor.
Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be accountable for taking account of all of the decedent's assets and debts, as well as notifying beneficiaries who may be estranged from the decedent, among other things.
Can a Princeton, Minnesota 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 intricacies that may arise, an accomplished Princeton, Minnesota lawyer can make this process a great deal easier.