ESTATE ADMINISTRATION
ESTATE ADMINISTRATION
Helping You Distribute Assets After a Loved One’s Death
After a loved one passes away, you and your family members will likely be left to deal with their estate administration. If your loved one had an Estate Plan (i.e., a Will or trust), that plan will dictate the management and distribution of assets, as well as any procedures that must be followed to ensure a lawful and effective estate administration. Depending on the nature and complexity of the estate administration case ahead of you, or other factors such as the desire for convenience or professional oversight during times of grief, it may be highly advisable to seek the assistance of experienced, compassionate attorneys such as those at Legacy Law Partners, PLLC.
At Legacy Law Partners, PLLC, we understand just how overwhelming it can be to deal with a loved one’s estate. Even with the most specific Estate Planning documents, you may still have questions or concerns about the process. We represent clients who are in line to become the legal representative of an estate (i.e., Executor, Administrator or Trustee) due to being nominated or their close relationship to the person who passed away. If you are searching for a New Haven County law firm, contact our office today by calling (203) 446-4725 for a free consultation.
What is Estate Administration?
Estate administration is the process of settling a person’s financial dealings after they die. This can include ensuring various expenses of the estate are attended to (e.g., debts, taxes, funeral costs, legal fees), as well as collecting assets and income of the estate. It also includes distributing assets and property to beneficiaries that an individual named before their death. An individual’s wishes are typically included in their Last Will and Testament or trust, subject to any procedural requirements imposed by the probate courts or otherwise by state law. However, if they died without an Estate Plan, the court will assign an Administrator of the estate to manage and distribute the estate’s assets in accordance with state law.
If you are concerned about your estate, consulting a New Haven County Estate Planning attorney is the best way to create a plan and protect your assets after death. Our team can advise you on the best Estate Plan to provide tax benefits, simply and expedite the transition of assets to your loved ones, protect them against the threat of divorce or lawsuits, and even greatly reduce the impacts of the probate process once you pass! For more information and to speak to a team of experienced Estate Planning attorneys, contact our law firm today.
What is an Estate Executor or Administrator?
An estate Executor is the legal representative of the estate who is nominated by the person who passed away within his or her Will. A person does not officially become the Executor until the probate court appoints them in that role, by issuing them a document called a “Fiduciary’s Probate Certificate.”
An estate Administrator largely carries the same authorities as an Executor (subject to a few relatively minor differences), but who is not nominated by the person who passed away. Generally, the court will give priority to those with the closest relationships to the decedent, such as surviving spouses or adult children.
Please also note that while the terms “Executor” or “Administrator” may be gender neutral, the courts may refer to female estate representatives as an “Executrix” or “Administratrix,” as the case may be.
What Does an Estate Executor or Administrator Do?
An estate Executor or Administrator is an appointed individual who is in charge of settling the estate after someone passes. Typically, they are responsible for overseeing the entire estate process.
If you are an estate Executor or Administrator, your duties may include the following:
Filing Forms With Probate Court
Filing Tax Returns
Notifying Loved Ones
Paying Bills and Debts
Distributing Assets
Closing the Estate
How Can an Attorney Help Me?
