The procedure of distributing and maintaining the estate (the total accumulated property) of a person who dies is identified as "estate administration." It is carried out either through the provisions of a will, or local laws addressing the issue of a person who dies without a will.
If the decedent (the person who died) left a will, the process of estate administration in Bridgewater Virginia will typically be carried out according to the instructions in the will.
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 usually has at least some work cut out for them. This apparently raises the issue of compensation. The easiest way to guarantee 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 done.
What if The Will Does Not Name an Executor?
If a Bridgewater, Virginia will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is normally the person who will benefit the most if the will is executed. If there is no will (a situation identified as "intestacy"), Virginia has a system of laws distributing the decedent's property to his or her closest living relative. In such a case, the closest living relative has the most to gain from an orderly administration of the estate, so they will normally be appointed.
If the will doesn't name anyone as executor, or the individual who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Bridgewater, Virginia can apply to the court to be the executor.
When the executor is chosen, they serve as a sort of incarnation of the decedent's estate - the estate's legal interests become the executor's interests, and the executor is expected to safeguard the estate's interests as they would their own.
Can a Bridgewater, Virginia Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might confront legal or tax issues with which you are unfamiliar. A Bridgewater, Virginia attorney would be quite helpful in such a situation.