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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.
A probate lawyer offers services in probate court, and may be retained to open an estate or offer service during the course of probate proceedings on behalf of the administrator or executor of the estate. Probate lawyers may also represent heirs, creditors and other parties who have a legal interest in the outcome of the estate.
In this case the court will make the grant to the person, usually the residuary legatee, with the largest beneficial interest in the estate. Administration de bonis non administratis occurs in two cases: Where the executor dies intestate after probate without having completely administered the estate; Where an administrator dies.
“Revocable” means you can change the terms at any time, so long of course as you’re “living.” As the assets aren't considered a part of your estate, they sidestep the probate process.
Estate planning may involve a will, trusts, beneficiary designations, powers of appointment, property ownership (for example, joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney (specifically a durable financial power of attorney and a durable medical power of attorney).
Your investment account’s transfer process after death depends on how you’ve set it up – from quick transfers with proper beneficiaries to lengthy cort processes with probate.
Loans without collateral are often a last priority when it comes to paying off your creditors after you die. But family could be responsible, depending on where you live. Learn more in our guide ...
After the testator has died, an application for probate may be made in a court with probate jurisdiction to determine the validity of the will or wills that the testator may have created, i.e., which will satisfy the legal requirements, and to appoint an executor. In most cases, during probate, at least one witness is called upon to testify or ...