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 typically 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 decedent had the foresight to draft and execute a will in Crossville, Tennessee, the estate is normally administered in a way that follows the instructions the will lays out, as closely as possible.
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 executor is typically the person who stands to inherit the most money or property from the will, since this personn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If a Crossville, Tennessee will does not name an executor, or no will exists or can be found, it's up to the local court to decide who should be the executor.
This is most frequently the person who stands to gain the most from the will, or who would inherit the most under Tennessee'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 typically distributes the property to the closest living relatives of the decedent, assuming they can be located.
If the will doesn't name anyone as executor, or the person who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Crossville, Tennessee can apply to the court to be the executor.
Whoever is appointed 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 Crossville, Tennessee 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 Crossville, Tennessee lawyer can make this process a great deal easier.