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 Collingdale Pennsylvania will usually be carried out according to the instructions in the will.
Most commonly, a will names a person to serve as executor, whose job it is to guarantee that the estate is properly administered.
The executor generally has at least some work cut out for them. This obviously 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 a Collingdale, Pennsylvania 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.
Usually, this will be the person who has the most to gain from the will, or who would gain the most under Pennsylvania'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 Collingdale, Pennsylvania can apply to the court to be the executor.
Whoever is assigned to serve as executor, it is their job to act as the representative of the estate. Among other jobs, they have to account for the decedent's debts and assets, and inform any beneficiaries who might be unaware of the situation.
Can a Collingdale, Pennsylvania Estate Administration Attorney Help?
Some people are surprised when they find out they've been named the executor of a relative's estate. The responsibilities can seem daunting, but with the help of a reputable Collingdale, Pennsylvania attorney, the process almost always goes pretty smoothly.
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