When a person dies, a process identified 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 Freehold, New Jersey, the process will be carried out according to the directives included in the will, assuming they are legitimate and enforceable.
Frequently, the will appoints an executor whose job it is to oversee the administration of the will.
The executor is frequently 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 Freehold, 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 frequently 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 typically 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 Freehold, New Jersey to be the executor of the estate, if they wish.
Once an executor is assigned (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to safeguard its interests to the fullest extent possible. They further are obligated to accurately inventory the estate's debts and assets, as well as notify possible beneficiaries.
Can a Freehold, New Jersey Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial difficulties that may arise, an efficient Freehold, New Jersey lawyer can make this process a great deal easier.