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The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
Certain estate expenses are tax deductible on IRS Form 1041. The executor must file this form for estates that earn over $600 in income or have a nonresident alien as a beneficiary.
[1] [2] [3] Estate planning includes planning for incapacity, reducing or eliminating uncertainties over the administration of a probate, and maximizing the value of the estate by reducing taxes and other expenses. The ultimate goal of estate planning can only be determined by the specific goals of the estate owner, and may be as simple or ...
Also, in the case of legacies when the funds or assets out of which they are payable are not sufficient to pay them in full, the legacies abate in proportion, unless there is a priority given specially to any particular legacy. Annuities are also subject to the same rule as general legacies. [1] The order of abatement is usually: Intestate property
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South Arkansas County Courthouse 34°17′42″N 91°20′6″W / 34.29500°N 91.33500°W / 34.29500; -91.33500 ( Arkansas County Courthouse-Southern Courthouse Square
Pope County, and a small portion from Madison County (prior 1890) Benjamin Johnson (1784–1849), the first judge of the federal district court for Arkansas 26,129: 682.74 sq mi (1,768 km 2) Lafayette County: 073: Lewisville: Oct 15, 1827: Hempstead County and later from Columbia County (prior 1910)
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