California residents may be interested in learning about the current standing of singer Glen Campbell’s estate. Facing deadlines, the interim administrator of Campbell’s estate is asking the judge to expand his power. This will give him the ability to hire accountants and financial experts in order to accurately estimate how much the Campbell estate is worth.
When the estate was filed, the court put a limit on the power the interim administrator had. In essence, the interim administrator has the ability to collect money that’s paid to the estate as well as make non-discretionary payments.
Administrating the Campbell estate has presented certain challenges because the will is contested. This has made it difficult to meet deadlines for tax filings and other activities. A deadline was set on May 8 for filing the estate inventory. However, a six-month extension was granted. That extension will run its course by Nov. 8.
In order to determine the actual value of the estate and its future value, there will need to be an evaluation of future royalties and other assets belonging to the estate. The interim administrator feels that at this time they lack the power needed to hire the financial experts, including accountants and assessors, to do the job accurately.
When a person dies without a valid will, the state may determine how the deceased individual’s assets will be distributed. This could mean that the wishes of the deceased individual will not be met. This underscores the importance of having a clear and unquestionable will as part of an overall estate plan. An estate planning attorney can help a client with this process.