Moultonborough, New Hampshire has a legal process known as "probate." This is when a court decides whether or not a will is valid, and, accordingly, whether or not to effectuate its provisions.
In the probate process, a Moultonborough, New Hampshire probate court has many duties, including ruling on a will's validity, making an inventory of the estate's assets, and making note of all the decedent's debts. Once the will is determined to be valid, the court will distribute the property according to its terms.
Wills commonly name a person as the executor of the estate. If not, the court in Moultonborough, New Hampshire will name one. This is most often the adult individual who stands to inherit the most money or property from the will.
Because the executor is responsible for really initiating probate proceedings and seeing them to completion, the person chosen for this role is often the one who stands to inherit the most from the will - giving them an incentive to put in the necessary time and effort.
Duties of the Executor in Moultonborough, New Hampshire
The executor has many duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be completed before the will is given effect.
Furthermore, it's the executor's job to notify all interested parties that the person who made the will has died. "Interested parties" are typically people who are named in the will, or who would inherit the estate if the decedent had died without a will.
Because people who stand to inherit from the testator may be scattered around the country, or even the world, contacting them is sometimes difficult. One of the responsibilities of the executor is to gather a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They further have to account for all the testator's debts and assets.
Additionally, the executor is obligated to take a leading role in showing the validity of the will. The executor obviously has an incentive to see the process through, since they cannot inherit until probate is complete.
How Can A Moultonborough, New Hampshire Lawyer Help?
Because of the intricacies inherent in the probate process, it is a good idea to hire an accomplished Moultonborough, New Hampshire probate lawyer, particularly for the executors of estates.