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 normally 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 has made a will in Gatesville, Texas, the process will play out according to the instructions mentioned in the will.
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 quickly as possible.
What if The Will Does Not Name an Executor?
If a will in Gatesville, Texas is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
This is most commonly the person who would inherit most under the will, or under the intestacy scheme of Texas. Intestacy is when a person dies without having made a will, or if a will turns out to be invalid. The intestacy laws of each state govern how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
If no executor is named in the will, anyone with a stake in the will can apply to the court in Gatesville, Texas to be the executor of the estate, if they wish.
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 Gatesville, Texas 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 Gatesville, Texas lawyer can make this process a great deal easier.