The process of winding down the final affairs after someone dies. The process includes the valuation of assets, payment of debts and taxes, and distribution of assets to beneficiaries.
A person appointed in the Will to carry out the directions and requests in the Will and fully participate in the probate process meeting all the formalities and requirements of the probate court leading to the distribution of assets to the beneficiaries and satisfying all debt obligations. An Administrator has the same obligations as an
A fiduciary is a term that implies exceptional confidence, trust, and a high degree of good faith. Being said, a fiduciary is someone with a legal obligation (duty) to act on behalf of another’s benefit. The most common examples are trustees and agents under a power of attorney.