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Administrator

An administrator in terms of estate planning is someone who is appointed by the Clerk of Court to oversee the administration of an estate in the absence of a will. If there is a will this person is called an executor and is usually named in the will as such. The administrator is responsible for assuring the estate is closed and carried through probate in accordance with state laws. The administrator is tasked with collecting the estate's assets and paying the estate's debts out of those assets. In addition, the administrator is responsible for the filing of all necessary paperwork with the court system and for notifying and distributing remaining assets according to the wishes of the decedent or the laws of the state in the absence of any directions on distribution.

Fast Facts

  • A court appointed administrator can be avoided by naming an executor in the will to handle the estate.
  • Estate administration can be handled by law offices and estate planners who are compensated for their time by the estate.

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Search Results for "administrator"

Articles

Results 1-5 of 50 for "administrator"

  • Wills and Estate Planning

    Wills and estate planning are designed to distribute the assets of the estate owner to the heirs and beneficia...
    • Site: lawfirms.com
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    • Site: lawfirms.com
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  • National Listing of State Medical Boards

    Alabama State Board of Medical Examiners Larry D. Dixon, Executive Admi...
    • Site: medicalmalpractice.com
  • Auto Warranty Scams

    An auto warranty is a contract which covers the costs of repairing mechanical problems and breakdowns in a veh...
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