Whenever a person dies and leaves behind debt creditors, the administrator or executor of that persons estate faces certain challenges in quickly selling real and personal property in order to satisfy creditors. The probate process is long and drawn out, and every shortcut available should be sought in order to shorten the amount of time that property is tied up in the process. Recently, with the great success of E-bay, people have discovered a quick and efficient way to unload property in order to satisfy debts. Not only has E-bay made the general premise of auctioning easier, it has also made it more understandable and desirable to the masses.
It is the jurisdictions Probate Court’s responsibility to ensure all probate assets are collected, maintained, and distributed among the decedent’s heirs, beneficiaries, and/or creditors in accordance with the will of the decedent as expressed through that persons testamentary will and the laws of that jurisdiction. This process is known as the administration of a decedent’s estate, and it can cause great difficulties to even the most experienced executor. Once the person dies, the executor or administrator must...
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