Estate administration can be complex.
Here is some information on estate administrators. Specifically, here is who can be one and what they do.
Must the administrator be a legal representative?
The administrator does not have to be a legal representative. However, the heirs must all agree upon the administrator.
Do administrators represent others?
Those on the administration side of the estate do not only represent themselves. Instead, they represent others’ interests. Generally, they represent the creditors and beneficiaries. That is because administrators have a fiduciary relationship with the estate. In other words, they have legal responsibilities and obligations. The individual can be any trusted person, such as a legal representative, family member or friend.
Who cannot be an administrator?
People cannot be an administrator if they are:
- A felon
- Living outside the state
- A corporation
- Otherwise unsuitable
The court considers these traits when establishing an administrator.
Does the administrator need to go to court?
The administrator will need to go to court. Their duties begin when they attend a court hearing about the administrator, and the court will appoint them to do the tasks.
What does the administrator do?
Immediately after the appointment, they must file an oath. In addition, dependent administrators must file a bond at this time. Then, they will request the letters of administration and begin liquidating the estate.
Knowing this information can be helpful when individuals choose their administrator. That individual will have a lot of responsibility. They will ensure that they use the funds from the estate to pay off debts and distribute the remainder to the appropriate heirs. Therefore, it is essential to outline a trusted administrator in your estate plan.