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.

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.

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.

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.

There are many challenges that can arise during estate administration, such as:

• Uncooperative beneficiaries.
• Missing or contested assets.
• Complex tax laws.
• Legal disputes.

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.