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 usually 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 Eagle Point Oregon will usually be carried out according to the instructions in the will.
Usually, wills assign an executor who is responsible for overseeing the administration of the estate, and seeing that its provisions are carried out, to the extent possible.
The executor is usually whoever stands to acquire the most money or property if the will is given effect, since that is the person who likely has the most incentive to do their part in seeing that the probate process plays out to completion.
What if The Will Does Not Name an Executor?
If the will in Eagle Point, Oregon 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.
This is typically the person who will benefit the most if the will is executed. If there is no will (a situation known as "intestacy"), Oregon has a system of laws distributing the decedent's property to his or her closest living relative. In such a case, the closest living relative has the most to gain from an orderly administration of the estate, so they will typically be appointed.
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 Eagle Point, Oregon court to be assigned executor.
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 Eagle Point, Oregon Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might encounter legal or tax issues with which you are unfamiliar. An Eagle Point, Oregon attorney would be very helpful in such a situation.