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Those who are designated by the terms of a will or appointed by a court of probate to manage the assets and liabilities of the estate of the deceased. An administrator or administratrix is a person appointed by the court to administer the estate of someone who died without a will.
It usually takes about four to six weeks to appoint an administrator or executor of the estate. Once this is done, notice must be sent to all creditors of the estate. The creditors are given a minimum of four months to respond to this notice.
The simple answer is that once you have a grant of probate or letter of administration in hand, it usually takes between six and twelve months to transfer all the funds, assets and property in an estate.The Department for Work and Pensions needs to investigate the estate. The estate is bankrupt.
It is the executor's or the administrator's responsibility to collect and distribute the assets and to pay any death taxes and expenses of the decedent.
It is an administrator's job to gather all of the assets of the estate, pay the debts of the estate, and distribute the assets to the beneficiaries in accordance with the will or the laws of intestate succession.
The Executor is responsible for wrapping up the deceased person's affairs and distributing the assets to, or for the benefit of, the persons named in the will (beneficiaries). An Administrator is the person in charge of the estate when my someone dies without a Last Will and Testament.
Letters of Administration are granted by a Surrogate Court or probate registry to appoint appropriate people to deal with a deceased person's estate where property will pass under Intestacy Rules or where there are no executors living (and willing and able to act) having been validly appointed under the deceased's will
The difference between executor and administrator of estate in comes down to how the person came to be in charge of the estate. Someone who is appointed through the will of the person who died is called executor. Someone who is appointed because of any other reason is called administrator.
). The administrator usually is the spouse, domestic partner, or close relative of the dead person. ). The case must be filed in the county where the person who died lived (or if the person lived outside of California, in the California county where that person owned property).