Request a Meeting

Become A Client

What Is Estate Administration?

Creative Planning
Last Updated
January 01, 2021
Person reviewing data at work

A lot goes into administering an estate. First, it must be determined who will become the rightful owner of the deceased’s assets. This is accomplished through the probate process. If the decedent (the person who died) had a will, the will must be filed with the probate court within a certain amount of time, as determined by the state.

After the will is filed, the estate administration process typically includes the following steps:

  • Determining what assets the decedent owned that may be subject to estate administration
  • Opening the estate and appointing an administrator, or executor if there is a will
  • Notifying any heirs who may be entitled to the decedent’s property (if there is no will) and distributes (those who are designated beneficiaries in the will) about the opening of the estate
  • Notifying any potential creditors of their right to make a claim
  • Filing an inventory of the assets known to be owned by the decedent
  • Gathering and administering estate assets
  • Creating and filing estate accounting
  • Distributing assets according to the court’s final order (or trust documents) and closing the estate

At Creative Planning, we support clients through all stages of the estate administration process. Schedule a complimentary, no-obligation consultation and learn more about how Creative Planning can help you achieve your legacy goals.

Let’s Talk

Find out how Creative Planning can help you maximize your wealth.

This commentary is provided for general information purposes only and should not be construed as investment, tax or legal advice, and does not constitute an attorney/client relationship. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed.

Recent Content

“Your wealth works harder when it works together.”

Peter Mallouk

President & CEO, Creative Planning

Serving Clients Nationwide

U

Please Enter Valid Zip Code

50

STATES & ABROAD

Providing financial peace of mind across the globe

$225

BILLION

Combined assets under management & advisement as of December 31, 2021