Medford Lakes, New Jersey has a legal process known as "probate." This is when a court determines whether or not a will is lawful, and, accordingly, whether or not to effectuate its provisions.

As part of the probate procedure, the court in Medford Lakes, New Jersey will decide the validity of the will, inventory the decedent's assets and debts, then, assuming everything is deemed 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 Medford Lakes, New Jersey will assign 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 major duty of the executor is to serve as the living incarnation of the estate. Their job is to start 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 Medford Lakes, New Jersey

Executors of estates have a several distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be done before the property in an estate can be released according to the terms of the will.

They also are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, usually by filing a death certificate.

If the decedent was even slightly well-off financially, it's likely that they'll have significant amounts of both debts and assets. The executor is tasked with creating 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.

Furthermore, the executor is required to take a leading role in proving the validity of the will. The executor obviously has an incentive to see the process through, since they cannot inherit until probate is complete.

How Can A Medford Lakes, New Jersey Lawyer Help?

Because this process can be fairly perplexing, it is not a bad idea to consult with a reputable probate lawyer in Medford Lakes, New Jersey, especially if you find yourself as the executor of an estate and don't know how to proceed.