Estate administration is the legal and practical process of settling and distributing the assets and affairs of a deceased person, often referred to as the decedent or the estate owner. It involves managing various aspects, including identifying and collecting assets, paying debts and taxes, resolving any outstanding legal matters, and ultimately distributing the remaining assets to the rightful beneficiaries or heirs. Estate administration typically begins with the appointment of an executor or personal representative, who is responsible for overseeing the process and ensuring that the decedent’s wishes, as outlined in their will or state intestacy laws, are carried out. The executor’s duties may include filing necessary legal documents, valuing assets, communicating with creditors, preparing an inventory of assets, and distributing the estate according to the established plan. The complexity and duration of estate administration can vary depending on factors such as the size of the estate, the presence of disputes or litigation, and the efficiency of the executor. Proper estate administration is crucial for honoring the decedent’s wishes, protecting the interests of beneficiaries, and bringing closure to the estate’s affairs.
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