What Are Letters of Administration?
What are Letters of Administration?
Letters of administration are court certificates that are proof that you have the legal authority to settle the final affairs of somebody who died without a will.
Let’s talk about what that means in real life.
If somebody in your family dies without a will and they own say, a bank account, or brokerage account, or life insurance policy, that didn’t have a beneficiary designation, then you need letters of administration to collect those funds.
Why, do you ask? Well, it’s proof to the bank or the other institutions that the court has reviewed the situation, or reviewed the family tree, and made a ruling that you are the one who has the legal authority to collect those funds.
And that’s why, in order to collect those funds or your inheritance, you need to contact an attorney and get your letters of administration.
Hope you found this helpful.
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