Glossary

Estate administration is a legal process of evaluating a deceased person’s assets, paying off the decedent’s debts, and distributing the deceased person’s assets according to the wishes in their will (or state law if the decedent did not have a will in place).

More specifically, estate administration includes the following elements: 

1. Identify and assess the deceased person's assets — such as property, investments, and personal belongings, to determine their value. This initial step is elemental because it helps ensure all assets are correctly accounted for and distributed according to the will or state law terms.

2. Pay off any outstanding debts and taxes the deceased person owes using their assets — Ensuring the deceased person's creditors are paid appropriately and that any remaining assets are distributed fairly to beneficiaries.

3. Distribute the remaining assets to the beneficiaries according to the will or state law terms — Typically, this final step can be complex and potentially involve legal challenges or disputes. 

Below are five key benefits of hiring an attorney for estate administration services.

1. Experience — Estate administration is a complex process that involves various legal requirements and obligations. An attorney who offers estate planning and administration services has the legal experience required to navigate the complexities of the estate administration process. An estate attorney, like Attorney Kennedy, can help you understand the legal requirements, ensure all paperwork is filed correctly, and meet all deadlines.

2. Efficiency — Estate administration can be time-consuming, especially if you are unfamiliar with the legal requirements of the role. An experienced attorney can help minimize stress by streamlining the estate administration process, minimizing delays, and ensuring everything is done efficiently. 

3. Evade Legal Conflicts — Estate administration can be challenging, especially if there are disagreements among family members or beneficiaries. However, an attorney can assist in preventing legal disputes by ensuring that the terms of a client’s will are clear and that all legal requirements are met. An estate attorney can also provide guidance on how to resolve conflicts if they arise.

4. Ensure Asset Protection — An estate administration attorney can help protect the estate’s assets by negotiating and paying off all debts and taxes, distributing the remaining assets according to the deceased person’s wishes, and providing guidance on minimizing potential tax liabilities and protecting assets from legal disputes.

5. Enable Time to Grieve — Estate administration can be an emotional process, especially when dealing with the loss of a loved one. During this stressful time, an empathetic attorney can also offer guidance and support throughout the entire estate administration process — providing clients with assurance and comfort, knowing all estate administration matters are handled correctly. 

Estate administration is an essential process that provides closure for loved ones and ensures that the deceased person's assets are managed and distributed appropriately. 

Working with a knowledgeable estate attorney, like Attorney Kennedy, can assure legal attention to detail, help simplify the estate administration process, and ensure all legal requirements are met.