Estate administration is more than just distributing assets according to a will. Estate administration requires the administrator to take possession of all real estate, stocks, personal belongings and other assets that have been left behind by the decedent.
If you are going to be an heir to an estate, it's important that you know what you need to do when your loved one passes. As an heir, you may need to wait for the estate's executor to pay creditors, taxes and to locate the will before you can get what you're owed.
When you have a blended family, it's important that you take the time to do what you can to protect your children's inheritances. In a blended family, estate planning can become a challenge, as former spouses and various estranged relatives may try to take advantage of your estate.
A will is a vital document in any estate plan. Without it, no one can know your intentions and what you'd like to see happen with your assets. Without a will, your potential beneficiaries and heirs may fight over your estate, and they will likely have to go through probate, which is a long, drawn-out legal process.
One thing that families have turned to more over time is the use of probate litigation. Probate litigation is more likely to involve large, valuable estates, but it can happen to any estate given the correct circumstances.