Mantua, New Jersey has a legal process known as "probate." This is when a court decides whether or not a will is binding, and, accordingly, whether or not to effectuate its provisions.
As part of the probate procedure, the court in Mantua, 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.
Usually, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Mantua, New Jersey will appoint an administrator to serve the role as the executor. This is usually the closest adult relative of the decedent, or the person who stands to inherit the most.
The basic duty of the executor is to serve as the living incarnation of the estate. Their job is to begin probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will usually be the person who stands to inherit the most from the will, as he or she has an incentive to make every effort to avoid delay.
Duties of the Executor in Mantua, New Jersey
Executors of estates have a several distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be finished before the property in an estate can be released according to the terms of the will.
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.
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 compile a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They also have to account for all the testator's debts and assets.
As the representative of the estate, the executor has to take charge of the probate process, filing the necessary court papers, and, if necessary, hiring an attorney for help. If the estate is large, and the executor stands to inherit a great deal of money once this process is complete, they'll probably find it to be worth the time and expense.
How Can A Mantua, New Jersey Lawyer Help?
Because of the complexities inherent in the probate process, it is a good idea to hire an experienced Mantua, New Jersey probate lawyer, particularly for the executors of estates.