Understanding Your Duties as an Estate Administrator

 Posted on April 29, 2025 in Estate Planning

 If you are appointed as the administrator of someone else’s estate, you may feel a heavy responsibility on your shoulders. This role comes with duties you must carry out, which can be overwhelming for the uninitiated. An Illinois estate planning attorney can provide guidance and representation while you handle the decedent’s property and wealth.

Having an experienced lawyer at your side can make estate administration much less intimidating. Attorney Cherissa Krajniak has over a decade of legal experience and thorough knowledge of estate planning and probate matters. At Loire Krajniak Law, LLC, we will strive to protect your best interests while addressing any issues that may come up during estate administration.

How Do I Divide Up Assets in the Estate?

When someone dies without a valid will, the courts will appoint an administrator of the estate to divide up the decedent’s assets.  If you are appointed the administrator, you will have to start by getting a complete estimate of the value of the estate. Assets in the estate may include bank accounts, real estate, investments, and more. You must also account for any unpaid debts the decedent may have had.

Additionally, you will be responsible for filing tax returns for both the deceased person and his or her estate. Finally, the decedent’s assets will be divided in intestate succession, which automatically portions out the estate to surviving family members.

How Do I Manage a Deceased Person’s Wealth?

As the administrator of the estate, you have a responsibility to manage the decedent’s wealth with care. If you have been named as the administrator of a trust, you must make decisions that serve the best interests of the beneficiaries named in the trust. This may involve making sound investments and keeping detailed financial records.

When dividing up assets in a trust, it is important that you fully understand the instructions left to you by the decedent. At Loire Krajniak Law, LLC, our attorney can take a close look at the trust and clarify any questions you may have about how the wealth should be distributed to beneficiaries.

What if I Am Accused of Breaching Fiduciary Duty?

When you are entrusted with a deceased person’s assets, you have a fiduciary duty to manage them. This means that you must allocate and spend those assets in the best interests of the beneficiaries.

If you are accused of mismanaging a deceased person’s estate, you could face serious penalties. The beneficiaries can petition to have you removed as the estate or trust administrator. Worse, you could be ordered by the court to pay restitution and punitive damages. As such, you must fight back against any claims of violating a fiduciary duty. At Loire Krajniak Law, LLC, we can represent you in court and contest beneficiary claims of wrongdoing.

Meet With a Geneva, IL Estate Administration Attorney

Managing somebody else’s assets and property after their death can be challenging. At Loire Krajniak Law, LLC, our Kane County, IL estate planning lawyer can work with you to navigate this process as efficiently as possible. Call us at 630-448-2406 for a free consultation.