The Collector of Decedent Estate is a legal term referring to an individual or entity responsible for managing and distributing the assets and liabilities of a deceased person’s estate. This role typically involves gathering and valuing the decedent’s assets, paying off any outstanding debts or taxes, and distributing the remaining assets to the beneficiaries or heirs according to the decedent’s will or the laws of intestacy. The Collector of Decedent Estate is appointed by the court and is required to act in the best interests of the estate and its beneficiaries.
A Collector of Decedent Estate is a person appointed by the court to manage the assets and debts of a deceased person’s estate.
The court may appoint any qualified person, including a family member, friend, or professional fiduciary, to serve as a Collector of Decedent Estate.
The duties of a Collector of Decedent Estate include identifying and collecting the assets of the estate, paying the debts and expenses of the estate, and distributing the remaining assets to the beneficiaries.
A Collector of Decedent Estate is appointed by the court through a formal legal process, which may involve filing a petition and attending a hearing.
A Collector of Decedent Estate must be at least 18 years old, of sound mind, and have no felony convictions.
The length of service for a Collector of Decedent Estate varies depending on the complexity of the estate and the court’s orders. It may last several months to several years.
If a Collector of Decedent Estate fails to perform their duties, they may be removed by the court and replaced with a new Collector.
Yes, a Collector of Decedent Estate can be held liable for mistakes or misconduct, and may be required to reimburse the estate for any losses caused by their actions.
In some cases, the beneficiaries of the estate may petition the court to remove a Collector of Decedent Estate if they believe the Collector is not acting in the best interests of the estate.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 5th April 2024.
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