Estate Administration

Estate Administration is the process of collecting and managing a person’s estate after they pass away. While Estate Planning involves creating a plan for what happens to your assets after you’re gone, Estate Administration involves executing that plan.  If you have a properly prepared plan, that execution should be relatively simple and painless.  The difficulty of estate administration comes in when there is an improperly prepared plan or no plan at all.

When there is a will in place, the person chosen to administer the estate is the Executor. If there is no will, the person who is appointed by the court to administer the estate is the Administrator.  If you have been chosen by a loved one or have been appointed by the court to administer an estate, do not be nervous.  Estate administration is not as terrible as you have heard it can be.  However, estates are not one size fits all.  There are a few different administration options that all depend on the size of the estate (i.e. the dollar value of the probate assets) and who the beneficiaries are.  It is best to consult an attorney and determine what kind of estate administration will be most efficient for the unique estate you are dealing with.