The process of distributing and maintaining the estate (the total accumulated property) of a person who dies is known 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 person who died made and executed a valid will in Cudahy, Wisconsin, the process of estate administration usually follows the procedures and instructions laid out in the will.
Often, the will appoints an executor whose job it is to oversee the administration of the will.
The executor generally has at least some work cut out for them. This obviously 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 finished.
What if The Will Does Not Name an Executor?
If a Cudahy, Wisconsin 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.
Usually, this will be the person who has the most to gain from the will, or who would gain the most under Wisconsin's intestacy scheme (the system that distributes the decedent's property to his or her closest living relatives, if he or she dies without a will).
If the will doesn't name a person who is to serve as executor, or the person named is no longer alive or cannot be found, anyone with a direct interest in the will can apply to the Cudahy, Wisconsin court to be the executor.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, using all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Cudahy, Wisconsin Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might encounter legal or tax issues with which you are unfamiliar. A Cudahy, Wisconsin attorney would be very helpful in such a situation.