Estate administration is the process 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 governing that situation, as well.
If the person who died made and executed a valid will in Haverford, Pennsylvania, the process of estate administration usually follows the procedures and instructions laid out in the will.
Often, the will appoints an executor whose job it is to oversee the administration of the will.
The executor generally has at least some work cut out for them. This obviously 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 finished.
What if The Will Does Not Name an Executor?
If the will in Haverford, Pennsylvania does not name an executor, or the decedent left no will to be found, the court has to appoint 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"), Pennsylvania 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 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 stake in the decedent's estate (either because they're named in the will or stand to inherit by intestacy) can petition a Haverford, Pennsylvania court to be appointed executor.
Once an executor is appointed (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 protect its interests to the fullest extent possible. They also are required to accurately inventory the estate's debts and assets, as well as notify potential beneficiaries.
Can a Haverford, Pennsylvania 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 complexities that may arise, an experienced Haverford, Pennsylvania lawyer can make this process a great deal easier.
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