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 Lakeway, 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 typically has at least some work cut out for them. This evidently 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 completed.

What if The Will Does Not Name an Executor?

If the will in Lakeway, Texas 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 usually the person who will benefit the most if the will is executed. If there is no will (a situation recognized as "intestacy"), Texas 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 usually 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 Lakeway, Texas court to be appointed executor.

Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be responsible for taking account of all of the decedent's assets and debts, as well as notifying beneficiaries who may be estranged from the decedent, among other things.

Can a Lakeway, 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 Lakeway, Texas lawyer can make this process a great deal easier.