Your comprehensive Estate Administration FAQ resource
Being named an estate administrator can be a stressful and time-consuming responsibility. We understand the challenges of executing an estate, navigating the probate process, attempting to minimize tax liability, and keeping the process moving forward appropriately. We’re here to help and we’re happy to provide some answers to some common questions.
What is estate administration?
Estate administration is the process of winding up the affairs of a deceased person’s estate. This includes collecting the assets of the estate, paying the debts and taxes, and distributing the remaining assets to the beneficiaries.
Why is responsible for estate administration?
The person responsible for estate administration is called the executor or administrator. The executor is named in the deceased person’s will, while the administrator is appointed by the court if there is no will or if the executor is unable or unwilling to serve.
What are the duties of an executor or administrator?
The duties of an executor or administrator include:
- Collecting the assets of the estate.
- Paying the debts and taxes of the estate.
- Distributing the remaining assets to the beneficiaries.
- Filing all necessary paperwork with the court.
- Keeping accurate records of all transactions.
How long does estate administration take?
The length of time it takes to administer an estate can vary depending on the complexity of the estate and the cooperation of the beneficiaries. However, it is typically a process that takes several months or even years to complete.
What are the costs of estate administration?
The costs of estate administration can vary depending on the size and complexity of the estate. However, it is important to budget for these costs, as they can be significant. These fees can include attorney fees, accountant fees, probate fees, and executor’s fees.
What are the challenges of estate administration?
There are many challenges that can arise during estate administration, such as:
- Uncooperative beneficiaries.
- Missing or contested assets.
- Complex tax laws.
- Legal disputes.
What happens if someone passes away and there is no will in place?
If there is no will, the court will appoint an administrator to manage the estate. The administrator will then distribute the assets of the estate according to the state’s intestate succession laws.
Schedule a FREE consultation with our estate administration attorneys today
How RQP Law helps estate executors and personal administrators
Learn about your responsibilities when executing another person’s estate.
Pennsylvania Tax Consequences
Estate taxation can be complex and costly if handled incorrectly by the estate’s administrator.
Will Contests & Probate Litigation
Ensure that the interests of beneficiaries and personal administrators are protected.
Pay the bills of a deceased person, file taxes, and distribute the balance of the estate.
Schedule a FREE Consultation
Our Pottstown estate attorneys are here to help! If you need assistance with estate administration, please schedule an appointment for a free consultation.
We are pleased to meet with you in either of our Pennsylvania offices to discuss your estate administration challenges.
192 South Hanover Street
Pottstown, PA 19464
Lancaster, PA 17603