Estate administration is the process of managing and distributing a person's assets after they pass away. This involves identifying their property, settling any debts, and ensuring that the remaining assets are distributed according to their will or, if there is no will, according to state laws. Executors or administrators, often appointed by the court, oversee this process to ensure everything is handled fairly and legally.
During estate administration, important tasks include gathering financial documents, valuing assets, and filing necessary tax returns. It can be a complex and time-consuming process, but it is essential for honoring the deceased's wishes and providing closure for their family and friends.