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PROBATE WITHOUT A WILL
( Administration of a Decedent’s Estate) If
the decedent left no Will, and
there are assets, a petition is filed requesting the court to issue Letters of
Administration. The law sets forth
the order of priority of those persons eligible to serve as Administrator of the
estate (as opposed to the Executor appointed in the Will). Usually the surviving spouse has the right to administer the estate of the deceased spouse. If there is no surviving spouse or if the surviving spouse is incapable of administering the estate or incompetent or if the surviving spouse renounces his or her right to serve, the surviving children are usually the next class of individuals who have a right to serve as administrator. All may serve together as co-administrators or several can renounce in favor of one or two to serve which is more often the case for practical reasons. Whoever serves, nevertheless, owes a fiduciary duty to all beneficiaries and must account to them subject to court supervision. Once
the court has accepted the petition and any renunciations, it will issue Letters
of Administration. The
Administrator of the estate will have the same duties as the Executor and in
most cases will obtain an attorney to assist him or her in the administration of
the estate. In some cases, a bond
may have to be posted with the court. Ó 2000 James
W. Pearson, Jr., All Rights Reserved FOR ADDITIONAL INFORMATION CALL THE TOLL FREE HELP LINE 1-800-232-1477 E-mail: lawyer@lawwalk.com JAMES
W. PEARSON, JR. Chair of the Federal & State Credit Union Department & Coordinator of legal consultations under the Family Legal Care Plans offered to credit union members. |
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