When a person dies, a process recognized as "estate administration" must be carried out. This refers to all the procedures which must be followed in distributing a person's estate to their heirs or devisees.
If the decedent (the person who died) left a will, the process of estate administration in Grain Valley Missouri will normally be carried out according to the instructions in the will.
The decedent normally names in the will an executor of his or her estate. The executor is the person whose job it is to take the lead role in the administration of an estate.
The executor typically has at least some work cut out for them. This evidently raises the issue of compensation. The easiest way to ensure that the executor does his or her job is simply to appoint the person who has the most to gain from the will. That way, they cannot inherit until the process is finished.
What if The Will Does Not Name an Executor?
If a Grain Valley, Missouri will does not name an executor, or no will exists or can be found, it's up to the local court to decide who should be the executor.
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"), Missouri has a system of laws distributing the decedent's property to his or her closest living relative. In such a situation, the closest living relative has the most to gain from an orderly administration of the estate, so they will usually be appointed.
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 Grain Valley, Missouri can apply to the court to be the executor.
Whoever is appointed to serve as executor, it is their job to act as the representative of the estate. Among other jobs, they have to account for the decedent's debts and assets, and inform any beneficiaries who might be unaware of the situation.
Can a Grain Valley, Missouri Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might face legal or tax issues with which you are unfamiliar. A Grain Valley, Missouri attorney would be extremely helpful in such a situation.