Those who are designated by the terms of a will or appointed by a court of probate to manage the assets and liabilities of the estate of the deceased. When a person dies leaving property, that property, called an estate, is usually settled or administered under the supervision of Special Courts. Depending on the state, such courts are called probate, surrogate, or orphans' courts.

They are typically county courts with jurisdiction and powers defined by state laws. States require court supervision for the settlement of estates for a number of reasons.

Courts ensure that the assets of an estate will be properly collected, preserved, and assessed; that all relevant debts of the deceased and taxes will be paid; and that remaining assets will be distributed to the heirs according to the provisions of the will or applicable laws.

The duty of settling and distributing the estate of a decedent one who has died is assigned to personal representatives of the decedent. A Personal Representative may be an executor male or female or executrix femaleor administrator male or female or administratrix female. An executor or executrix is the person named in a will to administer the estate.

An administrator or administratrix is a person appointed by the court to administer the estate of someone who died without a will. Executors and administrators act as officers of the court because they derive their authority from court appointments. They are also considered the fiduciaries, or trusted representatives, of the deceased. As such, they have an absolute duty to properly administer the estate solely for its beneficiaries.

Probate is the process by which the court establishes that a will is valid. The first step in the probate process is to file the will in the appropriate court with a petition to admit it to probate and to grant letters testamentary to the person designated as executor of the will.

Letters testamentary are the formal instruments of authority and appointment given to an executor by the probate court, empowering that person to act as an executor. Your Aunt Lillian has just called to ask if you will serve as executor for her estate after her death. You are honored that she has considered you for this important responsibility, but you also know that there are risks associated with becoming an executor or administrator.

The most potentially damaging risk is liability for actions undertaken on behalf of the estate. The estate's beneficiaries, who are likely your relatives, may sue you if any of the following situations occur:. If an executor is unable or refuses to serve, if there is no will, or if the will is deemed to be inauthentic or invalid, the court appoints an administrator.

Letters of Administration are the formal court papers that authorize a person to serve as an administrator of an estate that lacks a valid will. No administrator is needed if a person dies without a will, possesses no assets, and owes no debts. Where a person dies leaving an estate, but there are no known living heirs, the state usually receives the property under the doctrine of Escheat. In such cases, administration is not required, unless debts must be paid from the estate's assets before the state takes its interest.

The administration of a decedent's estate is controlled by statute. The probate court is authorized by statute to determine the fundamental facts essential to the administration of an estate. As a general rule, the place of the decedent's last legal residence determines which probate court shall have jurisdiction over settlement of the estate.

A person making a will—called a testator— should find out whether his or her choice of executor is willing to serve in that role. This small but sensible courtesy can prevent the spending of needless time and money in administration of the estate.

A person named as an executor in a will is free to accept or reject the position within a reasonable time following the testator's death. If it is rejected, the court then must appoint another representative, causing a delay in the settlement of the estate and its final distribution to the heirs, and incurring greater legal fees for the estate. Many people choose their surviving spouse as executor, since that person usually has the greatest knowledge of their financial affairs as well as the family situation.

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Some people name several persons to serve as coexecutors, to ensure that the estate will be handled fairly and honestly.A Settlement Administrator is a third-party entity appointed by the court to handle the settlement claims process, including:.

Most Settlement Administrators create a special, court-approved website to serve as a hub for information about the case, including court documents and updates about when payments will be distributed.

Settlement Administrator websites also provide a way for Class Members to electronically file their Claim Forms. Top Class Actions is not a Settlement Administrator, but we use their websites to help inform our viewers about how to file a claim for a class action settlement.

We also use Settlement Administrator websites, in combination with other sources such as court documents, to provide updates about the status of a settlement, including when it has been approved and when claims are expected to pay out. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits.

We do not process claims and we cannot advise you on the status of any individual class action settlement claim. You must contact the Settlement Administrator for any updates regarding your personal claim status, how to fill out a Claim Form, how to update your mailing address, or any other questions about your claim.

Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.

I was in Medtronic infuse class action lawsuit I am permanently disabled from it and do not think my lawyer treated me fair. Am I still able to get my money that I worked for.

I have a class action lawsuit settlement check sent to me but I never received it in the mail from the Wells Fargo overdraft fees. This was in or around about three other people who also filed with me cuz they was with Wells Fargo they receive their check.

Instead of paying me like they did others, they send a deficiency letter saying I had to prove I lived in Oregon because I used a p. Nevertheless I provided proof and confirmed that they received what they needed.

So, what can I do now? Reference holder account C, claim id SSV Request reissuance of the check to Barbara Berry, her sister, handling her estate. Respectfully, Barbara Berry. I received a email,said that I was entitled to a Class Action lawsuit with Facebook.With over 30 years of experience, CPT Group has administrated thousands of cases and billions in settlement funds.

Our extensive knowledge of complex notice programs is what sets CPT apart from our competition.

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Click here or call today for a competitive quote. CPT offers comprehensive and cost-effective class action administration services by leveraging decades of personal insight and firsthand knowledge from multiple disciplines and legal arenas.

Dynamic, capable, and service-centric, our elite staff delivers peak productivity and value.

settlement administrator meaning

The dedication and meticulous training of our team assures neutrality, attention to detail, and quality of service. We have used CPT many times and never once have had an unpleasant experience. Toll-Free Attorney Support: 1 Toll-Free Class Member Support: 1 Randi is responsible for critically analyzing and executing the requirements of a settlement for legal notification through secondary market research, data analysis, planning and executing.

She is also tasked with researching and analyzing target markets to develop strategic and tactical plans to grow the business. California State University, Fullerton B. With oversight responsibilities for the entire operation, she has an expert hand in all aspects of notice administration and demands quality and success for each step of the process. Making informed recommendations to meet the goals of complex and unique settlements, Julie has been responsible for the design and implementation of thousands of class action notice programs.

She understands the necessary mechanics to ensure that effective notice is executed, while making certain neutrality and client confidentiality is continually maintained.

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University of California, Irvine B. O: Nick Day has over 15 years of legal industry experience in both class action administration and electronic discovery services having held various positions with nationally recognized firms in both arenas. Based in Los Angeles, Nick is charged with developing new business opportunities on both the West Coast and nationally for CPT, providing consultation in class action noticing and settlement administration while maintaining existing clientele, both Plaintiff and Defense.

Nick is a California native and earned a B. Outside the office Nick enjoys spending time with his parents, three brothers and two nephews. Nick is an avid sports fan and enjoys playing golf with his friends on the weekends and attending college and NFL football games.

M: O: He arrives at CPT with over 30 years in sales management experience for both privately held and Fortune companies in the U.

Alan excels at managing and inspiring sales teams that focus on customer service, a prime directive at CPT. He has held senior management positions at American Express and The Wall Street Journal as well as non-profits focusing on child development. His background also includes many years overseeing marketing for several national TV shows and sporting events that travel across the United States.

His leaderships skills have helped achieve company goals year after year.To save this word, you'll need to log in. Recent Examples on the Web Locally, some parents have also organized online fund-raising campaigns, coordinating with the school administrators to distribute the money.

Whitmer's Michigan 'stay at home' order: Read the full executive order here," 23 Mar. Send us feedback. See more words from the same century Dictionary Entries near administrator administrative law administrative leave administrative unit administrator administratrix administrivia admirable. Accessed 11 Apr.


Keep scrolling for more More Definitions for administrator administrator. Please tell us where you read or heard it including the quote, if possible. Test Your Vocabulary Name that Thing: Flower Edition Name that flower chrysanthemum amaryllis hydrangea hyacinth Can you spell these 10 commonly misspelled words? Test Your Knowledge - and learn some interesting things along the way. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

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The dictionary has been scrambled—can you put it back together? Login or Register. Save Word. Log In. Definition of administrator. Synonyms Example Sentences Learn More about administrator. Keep scrolling for more. Synonyms for administrator Synonyms administrantarchondirectorexecexecutivemanagersuperintendentsupervisor Visit the Thesaurus for More. Examples of administrator in a Sentence Her eldest son will act as the administrator of the estate.

First Known Use of administrator 15th century, in the meaning defined at sense 1. Learn More about administrator. Share administrator Post the Definition of administrator to Facebook Share the Definition of administrator on Twitter.

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Time Traveler for administrator The first known use of administrator was in the 15th century See more words from the same century. Dictionary Entries near administrator administrative law administrative leave administrative unit administrator administratrix administrivia admirable See More Nearby Entries.

More Definitions for administrator. English Language Learners Definition of administrator. Kids Definition of administrator. Comments on administrator What made you want to look up administrator?A third-party administrator is a company that provides operational services such as claims processing and employee benefits management under contract to another company.

Insurance companies and self-insured companies often outsource their claims processing to third parties. Thus, such companies are often called third-party claims administrators. The use of third-party administrators is now common in many businesses, and the range of tasks they undertake is growing. They have distinct roles in the health insurance industry, commercial liability insurance, and investment company operations.

Some firms are moving into new areas such as forensic accounting services, workers' compensation audits, and emergency response planning. Third-party claims administrators are commonly used by health insurance providers, who outsource many of their administrative functions. Not only claims administration but premium billing, customer enrollment, and other day-to-day operations are often handled this way.

A hospital or a health provider organization that sets up its own health plan will often outsource the administrative responsibilities to a third party. In recent years, the types of programs outsourced to third parties have expanded and now may include the processing of employee retirement plans and flexible spending accounts.

The third-party claims administrator may even choose the defense counsel.

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Generally, these giants in their industry handle the claims of large corporations. The largest third-party claims administrators by revenue include Sedgwick Claims Mgt. In such cases, the company is often owned or managed in part by an investment company. The investment company handles the money management and the third-party administrator handles the day-to-day account operations and customer care functions. As noted, some third-party administrators have grown into multinational corporations.

However, there are also individual administrators who have gained TPA certification and work as independent contractors. TPAs need a deep knowledge of the rules and regulations of the services they are responsible for administering.

Each state has its own regulations regarding certification and licensing of TPAs. Some states require that TPAs file copies of their agreements to provide services to insurance companies to the state insurance department. Career Advice. Financial Advisor Careers. Your Money. Personal Finance. Your Practice. Popular Courses. Key Takeaways Health insurance companies often outsource their claims operations to third-party administrators.The claims administrator plays a critical role in the class action process and it is important to have a general understanding of their responsibilities and how they impact your claims.

In short, the Claims Administrator is a neutral third party retained to comply with the requirements set forth in the Court approved Stipulation of Settlement. This is essentially a blue print of exactly how to administer the settlement from beginning to end. The first step is the notification process and the goal is to notify as many potential class members as possible. Most administrators also maintain a database of brokers and nominees who are notified of each settlement and ordered to either provide names and addresses of clients who are potential class members or request a bulk number of claim packets to mail directly to their clients.

Once the notification process is complete, the administrator will start receiving manually completed claim forms as well as electronically filed claims from financial institutions. Each claim is data entered and documentation is evaluated to substantiate each claim. Any claim that is deemed deficient or incomplete is notified of the claim defects and given an opportunity to rectify the claim. The administrator will also calculate a recognized loss in accordance with the Court approved Plan of Allocation to identify the population and value of eligible claims.

The next step is to provide recommendations to Class Counsel of all rejected claims and all eligible claims and their recognized losses.

Class Counsel will review these findings and make a motion to distribute with the Court. Finally, once the Court approves the distribution, the administrator will distribute the funds to all eligible claims on a pro-rata basis. During these steps, there are a number of audits and data integrity checks that are performed by the Claims Administrator. If there are any issues on a claim, the administrator can and will reject a claim entirely or partially.

If a claim is partially rejected, that portion of the claim will be excluded from the calculation and reduce the value of the claim.

settlement administrator meaning

Administrators may also request independent documentation such as statements or additional data to further validate a claim. In most cases, the stipulation only requires an administrator to notify claimants once of any defects with a day response deadline.

As you can imagine, these defects will ultimately be subject to rejection if not addressed by the claimant in a timely manner. Now that we know what the administrator does, most of you are probably wondering how they do it?

settlement administrator meaning

And this is most important as this determines the eligibility and value of a claim. An administrator will use all information, data, and documentation available to evaluate a claim and verify that it meets the definition of the Class.

This means that the claim must include eligible security identifiers and the dates and holdings must balance and conform to the Class Period. They will also utilize historical pricing to ensure that claim data is aligned with the market trading of a security and review net amounts to ensure that they reasonably correlate with quantities, prices, and commissions. Documentation is requested and reviewed to substantiate a claim and any electronic data must meet formatting requirements and specifications.

Of course, these requirements and specifications will vary amongst administrators and this lack of consistency further complicates the process. The administrator is not required to accept claims if they do not meet the settlement or formatting requirements outlined in the Court approved documents and they are also not obligated to decipher questionable or incomplete data. For example, an administrator will not trace transferred shares across multiple claims for the same beneficial owner.

All in all, they are not allowed to make any assumptions when reviewing claim data as these assumptions are a liability and could artificially inflate or deflate the value of a claim. In closing, an administrator is only as good as the data and documentation submitted by class members and the quality of this information can vary greatly across financial institutions such as custodian banks who file claims on behalf of multiple clients. February 17, For information on how to determine if you are a Settlement Class Member, and therefore eligible for benefits under this Settlement, see FAQ 5.

In SeptemberEquifax announced that it had been the victim of a criminal cyberattack on its systems. Numerous lawsuits were brought on behalf of consumers whose personal information was impacted as a result of the Data Breach.

Chief Judge Thomas W. Thrash Jr. District Court for the Northern District of Georgia is overseeing these lawsuits. These lawsuits are known as In re: Equifax Inc.

The most recent version of the lawsuit, which describes the specific legal claims alleged by the Plaintiffs, is available here. Equifax denies any wrongdoing, and no court or other judicial entity has made any judgment or other determination of any wrongdoing.

The Court has not decided in favor of Plaintiffs or Equifax. Instead, both sides agreed to a Settlement after a lengthy mediation process overseen by a retired federal judge. Settlements avoid the costs and uncertainty of a trial and related appeals, while more quickly providing benefits to members of the Settlement class. You can confirm you are a Settlement Class Member, and eligible for benefits, by:.

When using the link above, if you have gone by more than one last name for example, a maiden name and a married namemake sure that you check all of your last names.

The Consumer Restitution Fund will be used to:.

What is Discovery: Discovery & Settlement

Equifax has also agreed to implement and maintain certain business practices relating to its information security program see FAQ You must certify that the description is truthful. Valid claims for Time Spent will be reimbursed in minute increments, with a minimum reimbursement of 1 hour per claim.

To claim reimbursement of more than 10 hours of Time Spent during the Initial Claims Period, you must have also provided reasonable documentation of fraud, identity theft, or other alleged misuse of your personal information fairly traceable to the Data Breach i. Based on the number of potentially valid claims that have been submitted to date, payments for Time Spent likely will be substantially lowered.

Depending on the number of additional valid claims that are filed, the amount you receive may be a small percentage of your initial claim. Out-of-Pocket Losses that are eligible for reimbursement during the Extended Claims Period may include, without limitation, the following:.

This list provides examples only, and other losses or costs fairly traceable to the Data Breach may also be eligible for reimbursement during the Extended Claims Period. If you have questions, please call the Settlement Administrator at Only valid claims will be paid. Settlement Benefit: Credit Monitoring Services: The Settlement provides a way to help protect yourself from unauthorized use of your personal information.

Settlement Class Members were eligible to submit a claim during the Initial Claims Period to enroll in at least four 4 years of three-bureau credit monitoring services, provided by Experian, at no cost.

These services include the following features:. If you submitted a valid claim and enrolled in Credit Monitoring Services during the Initial Claims Period, you could elect to enroll in up to six 6 years of one-bureau credit monitoring services provided by Equifax that would begin after the three-bureau Credit Monitoring Services expire. This one-bureau credit monitoring service will include automated online alerts for key changes to your Equifax credit report, on-demand online access to your Equifax credit report updated on a monthly basis, and, if you request, internet monitoring that includes searching suspicious websites for your Social Security number.

You must have opted-in for these one-bureau services when you submitted your Initial Claims Period claim for Credit Monitoring Services and you will be sent instructions for how to enroll in the one-bureau monitoring before your three-bureau Credit Monitoring Services expire.

The cost of this service will be paid separately by Equifax, not out of the Consumer Restitution Fund. If you submitted a valid claim form and elected to enroll in Credit Monitoring Services, you will receive enrollment instructions by email after the Settlement becomes effective. If a Settlement Class Member under the age of 18 has an Experian credit file with sufficient detail to permit authentication, a parent or guardian may enroll them in the full Credit Monitoring Services prior to their eighteenth birthday.

Additionally, the parent or legal guardian had the option to enroll the minor in one-bureau credit monitoring services provided by Equifax that would begin after the Credit Monitoring Services expire for a period of up to 14 years. The Experian Credit Monitoring Services and the optional one-bureau credit monitoring provided by Equifax together will cover 18 years. The parent or legal guardian must have opted-in for the minor to receive the one-bureau services when submitting an Initial Claims Period claim for the Credit Monitoring Services, and the parent or legal guardian will be sent instructions for how to enroll in the one-bureau monitoring before the Credit Monitoring Services expire.

The cost of these services will be paid separately by Equifax, not out of the Consumer Restitution Fund.