What are letters of administration?
Letters of Administration are legal documents that authorize a person to manage the estate of a deceased person in the probate process. The person authorized is called an executor/personal representative and they are responsible for managing the deceased person's assets and debts. Most often an attorney is required to represent the executor/personal representative in the probate process, which we, at The Warnock Law Group, have over 30 years experience doing.
A person who is granted letters of administration by a court is typically appointed as an executor/personal representative to manage the estate of someone who has died with or without a will. The person who is named in a will and is appointed as an executor/personal representative is responsible for carrying out the wishes of the deceased and distributing their assets according to the terms of the will, if there was a legally valid executed Will.
The persons or entities who may need a copy of Letters of Administration include beneficiaries of the estate, creditors, financial institutions, and government agencies that require proof of authority to act on behalf of the estate. Some entities, such as financial institutions, may require a copy of certified letters of administration, which your probate attorney can assist you in getting.
It is important to note that Letters of administration and a medallion guarantee are two different things whe dealing with the estate of a deceased loved one. While Letters of administration are legal documents issued by a court that give a person the authority to manage the estate of someone who has died, as dicussed above.
A medallion guarantee, on the other hand, is a certification stamp provided by a financial institution that verifies the authenticity of a signature on a document related to the transfer of securities. This stamp is required by financial institutions to prevent fraud and protect investors and may be required when distributing assets to beneficiaries of the estate.
The court appointed executor/personal representative may also need to open a safety deposit box that belonged to the decedent, which can often times be done with letters of administration and a death certificate to the bank where the box is located. You may also need to provide identification and proof of relationship to the deceased.
It is important to seek legal advice when starting the probate process.
For further help with the Probate process please contact us at: 6843 Porto Fino Cir, Fort Myers, FL 33912, USA email@example.com (239) 437-1197