Someday you may find yourself filling the shoes of someone who settles an estate for a loved one or close friend. You may be asked in an estate planning process (prior to a loved one’s death) to serve as an Executor for a Will, or you may be asked by the Court to serve as an Administrator of an estate. If an Administrator is appointed, no Last Will and Testament exists. If you agree, either way, be ready for a challenging road ahead.
Even in a simple estate where a living spouse inherits everything, there is paperwork to be done — paying creditors, closing accounts, and distributing assets. Settling an estate is not a quick process.
The grieving process sometimes makes it hard to think clearly if you are close to the one who has passed on. Family dynamics often create extra challenges.