What is an estate administration?
Inheritance law is one of the most complicated areas of law that a lawyer specializing in inheritance law deals with. Especially to avoid inheritance disputes, an estate administration can be a sensible option. A lawyer specializing in inheritance law will be happy to explain the details to you. The administration of the estate is part of the law of succession and the guardianship of the estate in order to satisfy the creditors of the estate (§ 1975 BGB). Our lawyers specializing in inheritance law in Frankfurt have extensive knowledge of the applicable regulations. While inheritance law generally regulates the safeguarding of the inheritance in most cases because, for example, an heir of the deceased has not yet been found but the assets of the estate have to be administered, the administration of the estate is primarily concerned with the separation of the two kinds of assets of the heir (own assets) and the estate (separatio bonorum) as well as the limitation of the heir’s liability in respect of the estate (§§ 1976 et seq. BGB). The exact process of inheritance law can quickly seem overwhelming at first. Therefore, it makes sense to ask a lawyer specializing in inheritance law in Frankfurt beforehand about the exact inheritance administration process. The lawyers specializing in inheritance law at our law firm in Frankfurt are your ideal contacts for this.
Who can apply for administration of the estate?
Inheritance law provides that the heir of the deceased is entitled to file an application for administration of the estate and, in case of a majority of heirs, the community of heirs only jointly. Inheritance law provides that the application is admissible only as long as the community of heirs has not separated. A creditor of the estate may also apply for an order for administration of the estate within two years of acceptance of the estate if his satisfaction of the estate appears to be at risk. The lawyers of our Frankfurt inheritance law firm will be pleased to assist you. In particular, the probate lawyers of our Frankfurt law firm will be happy to assist you with probate law issues related to the application process for the administration of the estate.
Who has the power of administration in the administration of estates in Frankfurt?
Inheritance law stipulates that when the administration of the estate is ordered, the heir loses the power to administer and dispose of the property of the deceased (Section 1984 (1) of the Civil Code). These rights are transferred to the administrator of the estate, who must take possession of the estate and satisfy the estate liabilities out of the inheritance (Section 1985 BGB). Our lawyers specializing in inheritance law in Frankfurt will be happy to explain further details to you during a personal consultation. Claims under inheritance law directed against the deceased’s estate can only be directed against the administrator of the estate. In the event of litigation, only the administrator is authorized to conduct the proceedings. As lawyers specializing in inheritance law in Frankfurt, we know these situations well. The administrator of the estate, who is himself a custodian of the estate, is not considered the legal representative of the heir due to his similar function as insolvency administrator, but an official body and in the proceedings a party by virtue of office. The lawyers specialized in inheritance law of our law firm in Frankfurt will be pleased to assist you in choosing the right administrator of the inheritance for you.
How do estate administration and estate insolvency differ?
Inheritance law is often difficult to understand. For this reason, the inheritance lawyers of our Frankfurt law firm are always at your disposal to advise you on the main aspects of estate administration. Through the administration of the estate, the heir has the possibility to limit the liability of the deceased’s estate. The appointed administrator of the estate (or the guardian of the estate) satisfies creditors to the extent that he has sufficient assets at his disposal. Enforcement by creditors is not possible during this period. Thus, the administration of the estate provides the first protection against creditors of the estate. If it turns out that the estate assets are not sufficient to fully satisfy all estate creditors, an estate administrator is appointed to liquidate and distribute the estate under the estate insolvency. The provisions of the insolvency law apply. If you have any questions, please contact the lawyers of our Frankfurt inheritance law firm in confidence.
What are the duties of the estate administrator?
The executor’s duties depend on the scope of his or her activities, as determined by the probate court. This can range from a single action, such as paying a bill from the estate account, to an all-encompassing protection and administration of the estate. If you would like to have a precise breakdown of the tasks and powers of an executor, a consultation with one of the lawyers of our estate law firm in Frankfurt is very helpful.
Who bears the costs of the administration of the estate?
The costs for the administration of the estate will be borne by the estate. If there are insufficient assets to pay for the administration of the estate, the applicant must pay the costs. In most cases, this is the heir. The inheritance law lawyers of our law firm in Frankfurt will be pleased to advise you in detail about the costs involved in the inheritance law process of the administration of the inheritance.
How does the administration of the estate end?
Inheritance law provides clear rules on the termination of the administration of an inheritance. Our attorneys specializing in inheritance law in Frankfurt will be happy to advise you on further details. The administration of the estate ends with the opening of the probate insolvency proceedings or with the cancellation by the probate court after correction of the estate’s liabilities. Depending on whether the guardian of the estate was only appointed with a limited scope of action, his task ends by law with the resolution of this matter (Section 1918 (3) BGB). In this case, a termination order is not necessary. If, however, an annulment decree has been issued, it only has declaratory effect. The case is different when it comes to the transfer of an entire sphere of activity, such as the safeguarding and administration of the estate and the determination of the heirs. In this case, the guardianship only ends when it is revoked by the probate court in the form of a decision pursuant to § 1919 BGB. Of course, our attorneys specializing in inheritance law in Frankfurt will also inform you extensively about the details concerning the end of the administration of the estate. As lawyers specializing in inheritance law in our Frankfurt law firm, we have extensive experience in various inheritance law options, such as estate administration.
