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 person who died made and executed a valid will in Ripon, Wisconsin, the process of estate administration normally follows the procedures and instructions laid out in the will.
Commonly, the will appoints an executor whose job it is to oversee the administration of the will.
The person named as executor of an estate normally has some work ahead of them. To ensure that they really follow through on their obligations, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a will in Ripon, Wisconsin is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
Normally, the person chosen to be executor is the one who would benefit most under the will, or under Wisconsin's intestacy laws. "Intestacy" refers to a situation in which a person dies without a will, or "dies intestate." Every state has laws to address this situation, and there isn't a lot of variation from state to state. Normally, the decedent's property will go to his or her closest relative, and if absolutely no living relatives can be found, it will go to the state.
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 Ripon, Wisconsin court.
Once an executor is appointed (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to protect its interests to the fullest extent possible. They also are required to accurately inventory the estate's debts and assets, as well as notify potential beneficiaries.
Can a Ripon, Wisconsin Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might face legal or tax issues with which you are unfamiliar. A Ripon, Wisconsin attorney would be extremely helpful in such a situation.