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 has made a will in Oyster Bay, New York, the process will play out according to the instructions mentioned in the will.
Commonly, the will appoints an executor whose job it is to oversee the administration of the will.
The executor typically has at least some work cut out for them. This evidently raises the issue of compensation. The easiest way to guarantee 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 done.
What if The Will Does Not Name an Executor?
If the will in Oyster Bay, New York does not name an executor, or the decedent left no will to be found, the court has to assign a person to serve as the administrator of the estate.
Normally, this will be the person who has the most to receive from the will, or who would gain the most under New York's intestacy scheme (the system that distributes the decedent's property to his or her closest living relatives, if he or she dies without a will).
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 an Oyster Bay, New York court to be assigned executor.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, utilizing all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Oyster Bay, 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 Oyster Bay, New York lawyer can make this process a great deal easier.