Hoboken, New Jersey has a legal process known as "probate." This is when a court decides whether or not a will is legal, and, accordingly, whether or not to effectuate its provisions.
As part of the probate procedure, the court in Hoboken, New Jersey will determine the validity of the will, inventory the decedent's assets and debts, then, assuming everything is found to be in order, distribute the estate according to the will.
Typically, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Hoboken, New Jersey will appoint an administrator to serve the role as the executor. This is typically the closest adult relative of the decedent, or the person who stands to inherit the most.
The executor is the person responsible for initiating the probate proceedings. The person who would inherit the most from the will is appointed, because they have the greatest inducement to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Hoboken, New Jersey
The executor has many duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be completed before the will takes effect.
The executor also has to give those with a direct interest in the will notice that the decedent has died, by filing an official death certificate.
If the decedent was even moderately well-off financially, it's likely that they'll have substantial amounts of both debts and assets. The executor is tasked with drafting an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the proper court papers, and, if necessary, hiring an attorney for assistance. If the estate is large, and the executor stands to inherit a great deal of money once this process is done, they'll probably find it to be worth the time and expense.
How Can A Hoboken, New Jersey Lawyer Help?
Because of the difficulties involved in probate, it would be smart to hire a knowledgeable Hoboken, New Jersey probate lawyer, especially if you are the executor of an estate and unsure how to proceed.