Administrator
Explore the role and importance of an estate administrator in managing and distributing assets after someone's passing.
What are the responsibilities of an estate administrator?
An estate administrator plays a crucial role in managing and distributing the assets of a deceased person when there is no appointed executor. They are often responsible for collecting assets, paying outstanding debts, and ensuring that the remaining assets are divided according to state laws. This role is essential in preventing disputes among heirs and ensuring a fair distribution of the estate's assets. Administrators can be appointed by the court and act in a fiduciary capacity to manage the estate according to legal guidelines.
