If you’re preparing a will to distribute your assets among your friends and family after your passing, you’re likely wondering how exactly your belongings will be distributed. Estate administration can be performed by a close friend, a relative, or a trusted lawyer. The guide below details estate administration further and why it’s a crucial component. 

A Guide to Estate Administration

What Is Estate Administration?

Once you pass away, the contents of your estate will be without a sole owner. Luckily, these assets can still be passed onto your friends and loved ones through the estate administration process. During this period, an individual of your choosing, known as the executor, will collect all your savings, properties, stocks, and other possessions. Then, they will settle all remaining debts and taxes you may have owed. Finally, they will allocate the leftover assets to your heirs or beneficiaries—those you have designated in your will.

Who Benefits From This?

Anyone can be an executor of your estate—your estate planning lawyer, your spouse, or your closest friend. The executor will carry out your last wishes, so make sure to pick someone you trust.

If you don’t choose your own executor, the probate court will choose one for you—which may not be in your best interests. If the court has to hire an attorney to choose one, the legal fees will come out of your estate. 

Why Is a Lawyer an Ideal Executor?

A lawyer who specializes in estate planning will have a much more comprehensive understanding of the situation at hand. Combined with the knowledge of your best interests, their legal acumen will ensure your wishes are carried out properly and promptly.

Plus, family members may be invested in the division and distribution of your estate, which can make them biased. If you’re having a hard time choosing an executor and don’t want to ruffle any feathers among family members, a lawyer is a logical, neutral choice.

If you’re interested in learning more about the estate planning process, turn to the Law Offices of Robert B. Liotta, Esq. in Lower Burrell, PA. Attorney Liotta has nearly 20 years of experience in estate planning and administration. He will ensure that your estate is managed comprehensively. To learn more about the firm, visit his website. Call (724) 334-9870 to schedule a consultation with this experienced lawyer.