What is Administration of Estates?
When an individual dies, there are procedures in settling the estate. This process is called ESTATE ADMINISTRATION. Both State and Federal Law establish certain requirements which must be followed. The word ESTATE is used to describe the property and obligations of a person who has died. ADMINISTRATION includes procedures and requirements relating to collecting of assets, satisfying of obligations such as debts, expenses and taxes, and distributing property to the heirs and beneficiaries.
