The process of distributing and maintaining the estate (the total accumulated property) of a person who dies is recognized as "estate administration." It is carried out either through the provisions of a will, or local laws addressing the problem of a person who dies without a will.
If the decedent (the person who died) left a will, the process of estate administration in Ashland Virginia will normally be carried out according to the instructions in the will.
The decedent normally 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 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 a will in Ashland, Virginia does not name a person to serve as executor, or the decedent dies without having written a will, the court will appoint a person to act as estate administrator.
This is most commonly the person who would inherit most under the will, or under the intestacy scheme of Virginia. 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.
When a will is silent as to who should be the executor, any person who has some direct interest in the outcome can ask to be named executor by the Ashland, Virginia court.
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 Ashland, Virginia Estate Administration Attorney Help?
If you have unexpectedly been appointed to be the executor of a relative's estate, and don't know how to handle this process, you should speak with a brilliant Ashland, Virginia wills and trusts attorney.