Welcome back. Our estate lawyers in Cary NC are here to talk more about the differences in estate executors and administrators. Today, we will focus more on administrators. If you missed our previous blog visit back with it, before moving on.
Estate Administrator | Estate Lawyers in Cary NC
When no one is appointed in the will to take care of these duties, the court names an administrator to oversee the estate and ensure that the will is carried out, and if necessary, goes through probate. He or she will perform the same duties as listed above, but may have more restrictions on the decisions he or she can make.
For instance, if an executor is named in the will, additional duties or provisions can be given to that person by the deceased. There are laws that may limit what an administrator can do.
Remember, an estate executor is the person named in the will to oversee the estate. You can appoint one at any time. He or she is in charge of wrapping up the deceased’s affairs and ensuring that their assets are distributed according to the will. The duties of an executor include gathering all of the assets and managing any property or businesses until they can be paid to the heirs.
Some of these responsibilities can include closing bank accounts, selling property, submitting claims on life insurance, and collecting income on properties, stocks and bonds. He or she will also have to notify Social Security and other government agencies that the deceased may have received benefits from. The person may also have to settle funeral arrangements and pay for the services if other arrangements were not made ahead of time.
If you are planning your estate and wish to leave these matters in the hands of someone you choose, naming an executor of your estate in your will can ensure that the person you want handling your estate is given the task. It can also help avoid unnecessary costs and delays in making sure that your estate is distributed to your heirs as you have outlined.
Consult with our estate lawyers in Cary NC who has experience in estate law if you have questions regarding the difference between an estate executor and an administrator. Also, remember to visit with our previous blog for more information.
Klish and Eldreth, PLLC | Estate Lawyers in Cary NC
Estate planning is one of the most important parts of life that often times get overlooked. If you've yet to begin planning or haven't updated in a while it might be time to think about doing so. Just contact our estate lawyers in Cary NC to begin estate planning, today. As always, for more information from Klish and Eldreth, PLLC be sure to visit back with us, soon! If you have any questions, contact us concerning any and all estate planning concerns!
Are you looking for estate lawyers in Cary NC to help you update your plan? Contact Klish and Eldreth, PLLC to schedule a consultation with us to get started with your revisions. We are also here to help you with all your legal matters, whether it be estate planning, trademarking, copyrighting, or DWI issues.