Administrator of an estate
This process, conducted in a state or local probate court, involves the disposition of the decedent’s estate either by will or intestacy.[4] Generally, while any person may serve as an Administrator of an Estate, probate courts are limited by state statute or common law as to whom they may select.To provide an example, see the District of Columbia’s preferred party statute: “If the intestate leave[s] a widow or surviving husband and a child or children, administration, subject to the discretion of the court, should be granted either to the widow or surviving husband or to the child, or one or more of the children qualified to act as Administrator.[4] Judges and scholars view these “strangers” as more desirable administrators because they, unlike preferred parties, will not clouded in their decision-making by any personal interest.This inventory includes all real and personal property owned by the decedent, remaining balances in banking accounts, 401ks, insurance payments, and much more.Once the administrator properly submits this inventory before the probate court, they may proceed into paying creditors, settling remaining debts, and eventually disposing of the assets to the appropriate heirs.[12] In addition to filing the inventory, administrators must submit a wide array of paperwork to properly administer a decedent's estate.In addition, an administrator may sell the building, after approval from the probate court, to pay any remaining debts on the decedent's estate.[17] For instance, an administrator possesses a fiduciary duty to obtain the highest price for the sale of the estate’s property.