The importance of choosing an estate administrator

As people go through life, they work hard to acquire possessions, property and assets that make up their estate. Not only do people build an estate so that they can enjoy the fruit of their labors once they retire, but they look forward to leaving a legacy to their loved ones and friends after they pass away. When people create a will, trust and estate plan to designate their assets and property, they have the ability to appoint an estate administrator to oversee their plans. While a number of people choose to leave matters of estate distribution up to the court, there are many benefits of naming an executor of the will or administrator.

The duties of an estate administrator

The administrator of an estate ensures that the wishes of the deceased are carried out according to their wishes, as written in the last will and testament. In addition to the distribution of property, administrators must pay off the decedent's creditors and settle accounts regarding the estate. As an overseer of the estate, the person chosen to be administrator is responsible for certain tasks. These include the following:

· Obtain the death certificate.

· Find the will.

· Notify financial institutions of the death.

· Determine the heirs and beneficiaries named in the will.

· Collect interest, dividends and other payments that are due to the estate.

Ultimately, executors are responsible for protecting the assets and property throughout the probate process. For example, if a property is involved, the administrator may want to change the locks, continue to pay the utilities and take care of the property until everything is distributed to the beneficiaries.

The probate process

During the probate process, the executor of the will is named. However, if the decedent did not name an executor in the will, one will be appointed by the court, according to the Ohio State Bar Association.

When people plan their estate, they may want to ensure they name an executor who they trust will handle their estate business properly. While some people would rather have a family member or trusted friend in this crucial position, others may wish to have a third-party in charge of the estate instead. It simply depends on the circumstances surrounding the situation.

Finding legal assistance

When a loved one passes away, emotions are often running high and it can be difficult to make decisions during this time. An attorney in Ohio may be helpful in looking at your legal options and guiding your choices when it comes to estate planning, power of attorney and the probate process.

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