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Administration process of an estate on the other hand is the process by which the
deceased person's assets are collected, maintained and distributed. An estate
administrator sees to the proper administration of the will. The probate process
begins after the death of a person. An interested person files an application to
administer the estate; a fiduciary is then appointed who is to administer the estate
and at times may be required to pay a bond to safeguard and to insure the estate.
Creditors are notified and legal notices published. There may be filed a petition to
appoint a personal representative may need to be filed Survivorship and Estate
Applications. All these processes must be done in accordance with the limitation
clause.
Property that passes to another person contractually upon the death of a person
does not enter probate for example a jointly owned property with rights of
survivorship. Property held in a revocable or irrevocable trust that was created
when the grantor's was still alive does not also enter probate. In most of these cases
the property is distributed privately and without many issues thus no court action is
required.
After a probate case has been filed in court, an inventory is entered and the
deceased's property collected. The debts and taxes are paid first then the remaining
property distributed to the beneficiaries. The probate and administrative process
may be challenged at any time as a whole or part of it. The issues that arise during
such hearings include will contests and paternity issues and these have to be solved
before the matter is decided.
The need for the appointment of an administrator arises where the deceased left no
will, some assets are not disposed of by the will, in cases where there is a will
however, the case goes to probate directly. The estate administrators act like will
executors but where the will does not state how to distribute of property, they
follow the laid down laws.
Contact us -
State : Ontario
City : Toronto
Country : Canada
Tel : 416-782-5926
E- mail : notarizers1@gmail.com
Website : http://www.notarizers.ca/
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