What is Estate Administration?
Estate Administration is the process by which an individual’s lifetime financial affairs are wound up and their property and assets are distributed after they die.
How does one complete an estate administration? There are several steps that need to be taken with following the local rules to open, distribute and close an administration. Each county will differ.
Key points you need to know in order to start the process:
Did the decedent have a Will?
If there was a will, then the original, will be filed in the county where the decedent lived. If there was not a will, then an application to administer the estate will be completed and filed.
Who are the next of kin?
Kentucky Revised Statutes – Chapter 391
What are the responsibilities of an executor/administrator?
- Carrying out the wishes of the decedent’s will or following Ohio/Kentucky laws.
- Paying creditors
- Meeting court deadlines
- Distributing assets appropriately
What to Expect During an Estate Administration:
Estate Administration cases usually take between 9-12 months but can take longer depending on the estate involved. Patience and reasonable expectations are necessary. We’ll get there but we’re on court time, which is like lake time.
If you need assistance, please call us or feel free to send us an email. We are happy to help!