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Administering an Estate Without a Will

July 14, 2015 by Thomas Geygan

Risk WalkDying intestate means that a person has died without a will stating how his or her property (called an estate) is to be distributed.

When the person who has died leaves a will, the probate court normally appoints the person named in the will to serve as executor of the estate. If the person’s will did not name anyone to be the executor, or if the person(s) named in the will refuse or cannot act, then the probate court will appoint someone to act as the administrator of the will. The executor is responsible to the court to ensure that the decedent’s financial affairs are resolved and the remainder of the estate is distributed according to the instructions in the will.

When someone dies intestate, the probate court will appoint an administrator of the estate. Like the executor or administrator of the will, the appointed estate administrator will report to the court to ensure that the decedent’s financial affairs are resolved and the remainder of the estate is distributed according to the law.

When appointing an administrator of the estate, Ohio law requires that the court ordinarily appoint the surviving spouse of the decedent, of if none, or if the spouse declines, the court will appoint one of the next of kin of the decedent. If there is no surviving spouse or next of kin resident of the state, or if the court finds such person(s) to be unsuitable, some other suitable person will be appointed as administrator.

They may be many reasons why you would select a particular person to settle your accounts and distribute your assets as you see fit.  If you do not have a will you lose the opportunity to make sure the best person for the job is appointed.  You also make if more costly as the administrator must post a bond, and the payment of the bond comes from your moneys

 

Filed Under: Wills & Estates

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