When a person dies, a process recognized as "estate administration" must be carried out. This refers to all the processes which must be followed in distributing a person's estate to their heirs or devisees.
If the decedent wrote a will before his or her death in Franklin Lakes, New Jersey, the process will be carried out according to the directives included in the will, assuming they are legitimate and enforceable.
Commonly, the will appoints an executor whose job it is to oversee the administration of the will.
The executor is commonly the person who will get the most money or property out of the will if it is given effect, because this is the person who will have the greatest incentive to see that the probate process goes as rapidly as possible.
What if The Will Does Not Name an Executor?
If a Franklin Lakes, New Jersey will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is most commonly the person who stands to gain the most from the will, or who would inherit the most under New Jersey's intestacy laws. Intestacy is the system that every state has in order to deal with the property of people who die without a will. It normally distributes the property to the closest living relatives of the decedent, assuming they can be located.
If no executor is named in the will, anyone with a share in the will can apply to the court in Franklin Lakes, New Jersey to be the executor of the estate, if they wish.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, utilizing all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Franklin Lakes, New Jersey Estate Administration Attorney Help?
If you have unexpectedly been appointed to be the executor of a relative's estate, and don't know how to handle this process, you should speak with a seasoned Franklin Lakes, New Jersey wills and trusts attorney.