The Independent Administration of Estates Act (IAEA)

The Independent Administration of Estates Act (IAEA) is a group of laws that make is possible for a personal representative to carry out or administer a decedent's estate more directly without court invention. The representative will either be named in the decedent's will, or chosen by the probate court. The individual can administer the estate with either full or limited authority depending on the nature of the case and what is authorized by the court.

When a representative has limited authority to administrate the estate, he or she will be supervised by the court throughout the transactions. The court will need to approve all transactions or any loans taken against the real property that once belonged to the decedent. If the court allows the administrator to take full authority,, then that representative has the right to administer real estate sales, transfers, and take out loans on the property as long as a Notice of Proposed Action is given to beneficiaries, heirs, and creditors as applicable.

Sometimes, the heirs of an estate will not agree with the decisions made by a representative administrator. In these situations, the heirs may want to file objections to the representative in the probate court. Also, if the heirs want court involvement in the distribution of the estate, then they may want to file for an objection and as for limited authority instead of full authority.

If you are dealing with a current issue regarding estate distribution, don't hesitate to contact a skilled lawyer to assist you. With the right attorney on your side, you may be able to work through estate distribution. As a representative administrator, a probate lawyer can help you make sure that you do the distribution correctly. Contact the firm today to learn more!