After a person dies, the distribution of assets can create substantial problems if that individual’s estate is not properly administered. An intricate process, estate administration involves receiving assets, paying parties that are owed debts, filing estate tax returns, and other processes. A knowledgeable estate planning attorney can prove essential in making sure that your estate is properly administered.
The Duties of an Estate Administrator
In many cases, wills assign an executor to be responsible for overseeing the administration of the deceased person’s estate. The executor is most often the person responsible for using any remaining assets of the deceased individual to pay debts and then transfer the remaining amount to any designated beneficiaries. In the state of Oklahoma, if a person does not name an executor or there is no will to be found, then a court will assign an individual to serve as administrator of the deceased person’s estate. In many cases, the person appointed will be the individual who is positioned to receive the most from the will. If the will does not name an executor or the person who is designated executor is unable to fill the role, then any person who has a direct share in the deceased individual’s estate can petition a court to be nominated as executor instead. No matter who is named estate administrator, this position must fulfill several duties that frequently benefit from the help of an estate planning attorney which include:
- After paying off any debts held by the administrator, paying the estate’s debts.
- Carrying out all orders that are signed by the appropriate court of law.
- Filing a petition to designate themselves as administrator of the estate.
- Posting a notice of creditors in a local newspaper so that companies or individuals that the deceased person owed money are made aware of that person’s death.
- Sending a notice of administration to beneficiaries and other involved parties.
Common Areas Where an Estate Planning Attorney can Help
An estate planning attorney most often helps individuals during the estate administration process in several areas, which include:
- Handling all debts and claims.
- Handling the filing of the deceased person’s final tax return.
- Identifying the deceased person’s assets.
- Paying any outstanding debts owed by the deceased person.
Individuals Not Named in a Will
If you are an individual who the deceased person failed to mention in his or her will but believe that you have a valid claim against the deceased individual’s estate, there are laws in the state of Oklahoma to allow certain types of individuals, including children and spouses, to take a certain percentage of an estate’s assets. As a result, individuals who are in this situation should not hesitate to contact an experienced estate planning attorney.
Contact a Seasoned Estate Administration Attorney
No matter what estate administration you require, attorney Jim A Lyon has the experience necessary to make sure that your estate is properly administered. Attorney Lyon knows how to make sure that you obtain the results you deserve. Contact our law office today for a free initial consultation.