A deceased’s estate is the items and accounts left behind after a person has passed away. When settling an estate, the family will need to take the time to divide, discuss, and manage what the possessor has left behind. The easiest way for a family to deal with an estate is if the individual left a will. Make sure to write one in order to save your loved ones potential hardship when you are gone. Here are some guide lines as to how to go about administering the estate of your loved one.
Who is Responsible?
An executor, who shall be named in the will, is the person responsible for administering the estate. However, in the case of no will being left, this duty shall then fall upon the closest family member of the deceased, referred to as the next of kin. This is often the spouse of the deceased. If there is no living spouse then the adult children of the deceased are often the next of kin. If there is no surviving spouse or adult child, the next of kin are as follows: adult grandchildren, adult great grandchildren, father or mother of the deceased, siblings, grandparents, uncles and aunts or nephews and nieces, and finally any other relatives of a more remote degree.
What is an Estate?
An estate is comprised of the following:
All the deceased’s earthly belongings go into the estate and are then distributed to either the heirs in their will or amongst their family in the case of no will. Do not be alarmed when reading debts, as certain laws do exist to protect you from them.
If you find yourself in a situation where you and your family are faced with the task of handling your departed loved ones possessions, do not despair. Even if you do not know the first thing about estates, there is always help at hand. At Basic Funerals, we have partner estate experts who will help you with the management of the estate documents and insure all is handled fairly. Contact us today to see how we can help you and your family when you don’t know where else to turn.