Expenses of administration

{
  "id": "MLC-T-LAW-001992",
  "term": "Expenses of administration",
  "field": "Law",
  "definition": "The costs and fees incurred in the collection of assets, payment of debts, and distribution of property in the context of a decedent's estate or a bankruptcy proceeding. These expenses include executor or trustee fees, legal and accounting fees, appraisal costs, and court filing charges. Under both probate law and the U.S. Bankruptcy Code, these administrative expenses are given first priority for payment from the estate's assets before any distributions are made to unsecured creditors or beneficiaries.",
  "url": "https://mlchart.com/terminology/law/expenses-of-administration/"
}