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 has made a will in Yorktown Heights, New York, the process will play out according to the instructions mentioned 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 completed.
What if The Will Does Not Name an Executor?
If a Yorktown Heights, New York 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"), New York 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 Yorktown Heights, New York can apply to the court to be the executor.
Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be responsible 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 Yorktown Heights, 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 Yorktown Heights, New York lawyer can make this process a great deal easier.