Beyond wills: Navigating the basics of estate administration

Pre-planning lies at the heart of hassle-free estate administration. Prior estate planning can assure individuals that their survivors would not have to fight uphill legal battles to claim what is rightfully theirs. 

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The many tasks at this point include drafting a will, collecting and updating the pertinent documents, and assigning an executor. With the advent of the digital age comes the need to store passwords and other online accounts where they could be found by survivors. 

In the absence of a will, state law would determine and decide how one’s estate would be divided. Because state law does not always line up to the wishes of an individual, it is recommended that a will be drafted. Wills would need to be updated at key points in a person’s life. 

At times, a will would need to be administered in more than one state. Although most probate cases are held at the state where the death has occurred, individual state laws govern the transfer of real estate. More than 20 states have a version of the universal probate code, which vastly simplifies the process of estate administration. In these cases, it may be wise to consult two or more attorneys for both the state where the decedent had died and the state(s) where the decedent had owned properties.

The executor of the will is charged with granting the final wishes of the deceased individual or decedent. Executors are first tasked with settling the accounts of the decedent, ensuring that all debtors are adequately paid off, followed by the accurate distribution of the remains of the estate according to the decedent’s wishes. The executor is tasked with finding and making an inventory of the decedent’s assets. 

Executors are paid a fee and do not get any of the proceeds of the sale of the estate’s properties. Frequently, the executor is a legal professional, though they could be an organization like a bank or the decedent’s next of kin. 

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Daniel E. DeKoter, J.D., is an attorney based in Sibley, IA, whose practice area includes civil litigation, business and employment law, and estate planning. Visit his firm’s website for more on him and his work.

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