What is Estate Administration?
Estate Administration is a word you will often hear in connection with Probate. It refers to the process of collating the assets of a deceased person (Property, Shares, etc. . ), making appropriate arrangements with institutions (Pension companies, Banks, etc. . ), dealing with any debts of the deceased, dealing with any person or institution that owes the deceased any monies, creating Estate Accounts, distributing the Assets in accordance with the Will (or the rules of Intestacy), and paying any Taxes due.
Where there is a Will, this is carried out by an Executor who has been awarded Grant of Probate by the Probate Court. Often with the assistance of a Probate Specialist.
Where there is no Will, this is carried out by a Personal representative who has been awarded Grant of Administration by the Probate Court. Again, often with some professional advice.
Grant of Probate or Administration is the formal process of becoming legally entitled to act upon the behalf of a deceased person's Estate.