A person legally vested with the right of administration of an estate.
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MEDICAL, US:
1. Individual appointed by a court to manage and settle a deceased person’s estate. 2. Third-party entity or individual responsible for the management of a group insurance program. Responsibilities include accounting, certificate issuance, and insurance claim reimbursement. 3. In a 401(k) defined-contribution pension plan, a company that processes employees’ contributions, mails statements, ensures compliance with federal tax law, and handles other bureaucratic chores. 4. In the Medicare and Medicaid programs, the title of the director of the Centers for Medicare and Medicaid Services (CMS).
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An individual or professional organization (such as a Bank’s Trust Department) authorized to administer the estate of a deceased person by the court; his or her duties are to collect assets of the estate, pay its debts, and distribute the residue to those entitled. He or she resembles an executor who is appointed by the will of the deceased. The administrator is appointed by the court and not by the deceased and therefore must give security for the administration of the estate, called an administration bond.
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1. A person appointed by the court to administer the estate of another who died intestate or without an executor. Section 167 of the Judicature Act 1925 obliges the administrator to enter into an administration bond. 2. The person or persons regarded by the Inland Revenue and, where relevant the Occupational Pensions Board, as responsible for the management of a pension scheme. 3. An insolvency practitioner managing the affairs of a company when it into administragoes tion.