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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.