Montvale, 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 Montvale, 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.
Normally, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Montvale, New Jersey will appoint an administrator to serve the role as the executor. This is normally the closest adult relative of the decedent, or the person who stands to inherit the most.
The main duty of the executor is to serve as the living incarnation of the estate. Their job is to initiate probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will normally 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 Montvale, New Jersey
Executors of estates have a many distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be completed before the property in an estate can be released according to the terms of the will.
Additionally, the executor has to make sure that the decedent's relatives and other people named in the will have notice of the testator's death, normally through the filing of a copy of the official death certificate.
If the decedent was even moderately well-off financially, it's likely that they'll have considerable amounts of both debts and assets. The executor is tasked with formulating 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.
Additionally, the executor is required to take the lead in showing the validity of the will, effectively acting as the living embodiment of the decedent's estate. The executor is normally the person who will inherit the most once the will goes through probate, so they have a good reason to put in the work to do this.
How Can A Montvale, New Jersey Lawyer Help?
Because of the intricacies involved in probate, it would be smart to hire a brilliant Montvale, New Jersey probate lawyer, especially if you are the executor of an estate and unsure how to proceed.