When someone dies, the courts will name an executor or an administrator to handle the business of running and winding down the person’s estate.
What’s the difference?
In essence, both an executor and administrator are tasked with the same core duties: obtaining an estate tax identification number, opening an estate bank account, creating an inventory of the estate, filing reports with the court, filing tax returns for the deceased, etc.
However, there are a few distinct differences that everyone should be aware of.
If the decedent had a will, the person in charge of their estate will be named executor. They will take an oath to administer the estate according to the wishes of the deceased.
If there was no will, the person in charge of the estate will be named administrator. They will make a promise to the court that they will administer the estate as dictated by the law.
For either role, it’s important that you understand and follow the exact processes and procedures for properly executing the duties as specified by law.
An experienced estate attorney or probate attorney can help guide you through this process, and help you avoid common mistakes that can cause family drama, arguments, or even litigation over how an estate is being handled.
Who Gets What?
For example, a grandmother may have intended to leave money for a neighbor friend who helped care for her and bring her groceries in the last years of her life. But if there isn’t a will specifying that wish, the neighbor won’t be recognized as an heir under the law, and the administrator cannot give money to the neighbor.
Likewise, if a grandmother had a will and specified that she wanted all of her assets to go to one single person in the family, the other members of the family aren’t entitled to any portion of the estate. Should other people in the family choose to challenge the validity of the will or question whether it was made under duress or not of sound mind, there is a legal process for doing so.
If an ex-husband was still named as the beneficiary of a life insurance policy, the executor or administrator cannot veto or ignore that — there is a legal process for challenging and resolving such issues. Many people also misunderstand that life insurance is handled outside of the estate.
If the decedent designated a minor child as the beneficiary of their 401(k) retirement account or other financial accounts, the executor or administrator will probably need to get a conservator appointed to manage the assets for the child until they reach age 18.
Who’s an Heir?
Executors and administrators must avoid any temptation to make verbal commitments or promises to potential beneficiaries or heirs.
If there wasn’t a will specifying who gets what, there are specific methods to determine a decedent’s legal heirs.
When there is a spouse and a biological child or a legally adopted child, in the state of Georgia an estate would typically be split 50/50 between them. If there is a spouse and two biological or legally adopted children, the estate would likely be split into thirds. Stepchildren can also be considered heirs if they have been legally adopted.
Grandchildren, great-grandchildren, siblings, nieces and nephews, and other relatives may also be considered heirs.
The probate courts oversee the process of determining heirs, and the administrator cannot make decisions that deviate from that legal process. Working closely with an estate or probate attorney who specializes in this work can make the process more smooth and less contentious among family members who may misunderstand how the law works.
Whether you serve as an executor or administrator, it is important to be patient and organized as you handle the business of winding down the estate and reach the final goal: closing the estate file through a Petition of Discharge, which marks the completion of your duties.
Disclaimer: This content is for informational purposes only, and does not constitute legal advice nor create an attorney-client relationship with Bequest Law.