Legal Definitions - collector of decedent's estate

A collector of decedent's estate is a person or entity temporarily appointed by a probate court to manage the immediate financial affairs of someone who has recently passed away (the "decedent"). This appointment typically occurs when there is a delay or dispute preventing a permanent executor or administrator from being appointed right away.

The collector's primary responsibilities include identifying and gathering assets belonging to the estate, collecting any payments due to the estate, and settling urgent financial matters that require immediate attention, such as paying bills or maintaining property. Their role is strictly temporary; their duties conclude as soon as a permanent executor (named in a will) or administrator (appointed by the court when there is no will) is officially appointed and can take over the estate's management.

Here are some examples illustrating when a collector of decedent's estate might be appointed:

• Example 1: Will Contest

  Mr. Davies, a wealthy real estate investor, passes away. His will names his daughter, Emily, as the executor. However, a distant relative challenges the validity of the will, claiming it was signed under duress. While the court processes this "will contest" and determines which will, if any, is valid, Mr. Davies's numerous rental properties continue to generate income, but also incur expenses like mortgage payments, utility bills, and maintenance costs. There's also a pressing deadline for a property tax payment.

  How it illustrates the term: A probate court might appoint a collector of decedent's estate to temporarily manage these properties, collect rent, pay the necessary bills, and ensure the property tax deadline is met. This prevents financial loss or penalties to the estate while the legal dispute over the will is resolved and a permanent executor can be appointed.

• Example 2: Dispute Among Heirs

  Ms. Rodriguez dies without a will (intestate). She leaves behind a significant estate, including a thriving small business that employs several people and requires daily financial oversight. Her three adult children cannot agree on which of them should be appointed as the administrator of her estate, leading to a standstill in court.

  How it illustrates the term: To prevent the business from failing, employees from losing their jobs, or assets from deteriorating during the family dispute, the court could appoint a collector of decedent's estate. This individual would temporarily oversee the business operations, manage its finances, and ensure employees are paid, until the children resolve their disagreement and a permanent administrator is officially designated.

• Example 3: Executor Incapacity or Delay

  Dr. Lee passes away, naming his sister, who lives in another country, as the executor in his will. Before his sister can travel back to the United States and formally accept her role, a critical investment portfolio owned by Dr. Lee needs immediate attention due to volatile market conditions, and a significant insurance policy premium is due to prevent a lapse in coverage.

  How it illustrates the term: A collector of decedent's estate could be appointed temporarily to manage the investment portfolio, make necessary decisions to protect its value, and ensure the insurance premium is paid. This allows urgent financial matters to be handled without delay, safeguarding the estate's assets until Dr. Lee's sister is able to assume her duties as the permanent executor.