When a person dies, a process identified as "estate administration" must be carried out. This refers to all the procedures 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 Keyport, New Jersey, the process will be carried out according to the directives contained in the will, assuming they are valid 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 quickly as possible.
What if The Will Does Not Name an Executor?
If the will in Keyport, New Jersey does not name an executor, or the decedent left no will to be found, the court has to appoint a person to serve as the administrator of the estate.
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.
When a will is silent as to who should be the executor, any person who has some direct interest in the outcome can ask to be named executor by the Keyport, New Jersey court.
Once an executor is appointed (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 protect its interests to the fullest extent possible. They also are required to accurately inventory the estate's debts and assets, as well as notify potential beneficiaries.
Can a Keyport, New Jersey Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might confront legal or tax issues with which you are unfamiliar. A Keyport, New Jersey attorney would be quite helpful in such a situation.