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 normally 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 had the foresight to draft and execute a will in Summerville, South Carolina, the estate is usually administered in a way that follows the instructions the will lays out, as closely as possible.
Commonly, the will appoints an executor whose job it is to oversee the administration of the will.
The executor is commonly the person who will get the most money or property out of the will if it is given effect, because this is the person who will have the greatest incentive to see that the probate process goes as rapidly as possible.
What if The Will Does Not Name an Executor?
If the will in Summerville, South Carolina 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 most commonly the person who stands to gain the most from the will, or who would inherit the most under South Carolina's intestacy laws. Intestacy is the system that every state has in order to deal with the property of people who die without a will. It normally distributes the property to the closest living relatives of the decedent, assuming they can be located.
If no executor is named in the will, anyone with a share in the will can apply to the court in Summerville, South Carolina to be the executor of the estate, if they wish.
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 Summerville, South Carolina 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 Summerville, South Carolina lawyer can make this process a great deal easier.