Interested Persons in Fairfax Estate Administration
Interested persons to an estate are all beneficiaries that are specifically named in a last will and testament, the surviving spouse, and all heirs at law. Even if a person leaves a last will and testament and named people, their heirs at law are still considered to be interested persons and therefore are required to be served with notice of probate. Within the notice of probate, all interested persons are advised of who is the appointed or qualified executor or administrator.
Interested persons in Fairfax estate administration are advised of their right to receive a copy of the will, and they are advised when an inventory is filed. If an individual wants to know more about the role of interested persons in the estate administration process, they should reach out to a seasoned estate planning lawyer who could answer their questions.
Reasons an Interested Persons May Invoke Their Rights
Interested persons in Fairfax estate administration have the right to receive a copy of decedent’s will. Many times even though a person is not named in the will, they want to receive a copy of the will. Often times, when the executor or administrator sends the notice of probate, they include a copy of the will as a courtesy to the interested person. They have a right to receive a copy of the will because they are usually an heir at law and may decide that they want to contest the will. This might be the most common reason why a will is reviewed by an interested person. It gives that interested person the opportunity to review the will and decide whether they want to contest the will. If the will is unfavorable to the interested person, they are more likely to contest the will.
Misconceptions About Interested Persons
One common misconception that interested persons have is that they can dictate how an estate is administered. This is not the case. The administrator or executor of the estate has full responsibility of administering the estate. They have the fiduciary obligation to properly administer the estate. The executor or the administrator is under no duty to consult the interested person in making decisions with respect to the estate.
These reports can be prepared by the administrator or executor, or they can be prepared by an attorney. Often times, an executor or administrator finds these tasks to be overwhelming and hires an estate lawyer to assist them. Distribution cannot be made until an inventory is filed and eventually accounted for after an accounting was filed.
Role of an Appraiser in the Estate Administration Process
Because the inventory reports all of the assets of the estate in addition to the evaluation of the date of death, an appraiser can play a big role in this process. When real estate is owned by the estate, a real estate appraiser is hired by the executor or administrator of the estate to appraise the real property as of the date of death. Similarly, an executor or administrator hires an appraiser to assess all of the personal property as of the date of death. Personal property includes personal items such as furniture, art work, jewelry, and electronics. All items found in a person’s home must be appraised to report the true date of death evaluation of the property on the inventory.
If an individual wants to know more about interested persons in Fairfax estate administration, they should consult a knowledgeable estate administration attorney that could answer their questions.