When a person dies, a process recognized as "estate administration" must be carried out. This refers to all the processes which must be followed in distributing a person's estate to their heirs or devisees.
If the decedent wrote a will before his or her death in Gloversville, New York, the process will be carried out according to the directives included in the will, assuming they are legitimate and enforceable.
Most often, a will names a person to serve as executor, whose job it is to guarantee that the estate is properly administered.
The executor is commonly the person who will get the most money or property out of the will if it is given effect, because this is the person who will have the greatest incentive to see that the probate process goes as rapidly as possible.
What if The Will Does Not Name an Executor?
If a Gloversville, New York will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is most commonly the person who stands to gain the most from the will, or who would inherit the most under New York's intestacy laws. Intestacy is the system that every state has in order to deal with the property of people who die without a will. It normally distributes the property to the closest living relatives of the decedent, assuming they can be located.
If no executor is named in the will, anyone with a share in the will can apply to the court in Gloversville, New York to be the executor of the estate, if they wish.
Once an executor is assigned (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to safeguard its interests to the fullest extent possible. They further are obligated to accurately inventory the estate's debts and assets, as well as notify possible beneficiaries.
Can a Gloversville, New York 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 Gloversville, New York lawyer can make this process a great deal easier.