Estate administration is the procedure during which the estate of a person who has recently died is maintained and divided among his or her heirs or beneficiaries. This typically happens according to the instructions in a will, but in case there is no will, there are laws regulating that situation, as well.
If the decedent (the person who died) left a will, the process of estate administration in Frederick Oklahoma will typically be carried out according to the instructions in the will.
The decedent typically 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 person named as executor of an estate typically has some work ahead of them. To ensure that they truly follow through on their commitments, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a will in Frederick, Oklahoma is silent as to who should be the executor, it is up to the court to determine who should serve in that capacity.
Typically, this will be the person who has the most to acquire from the will, or who would gain the most under Oklahoma'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).
If the will doesn't name anyone as executor, or the individual who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Frederick, Oklahoma can apply to the court to be the 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 Frederick, Oklahoma 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 difficulties that may arise, an efficient Frederick, Oklahoma lawyer can make this process a great deal easier.