Neptune, 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 Neptune, 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.
Typically, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Neptune, New Jersey will assign 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 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 typically 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 Neptune, New Jersey
There are quite a few things that an executor is accountable for. At the outset, they are obligated to file the probate action with the appropriate court. No progress, let alone any final disposition of the estate, can be made until this happens.
The executor also has to provide those with a direct interest in the will notice that the decedent has deceased, by filing an official death certificate.
There may be numerous people who are entitled to take under a testator's will, with which the testator may have fallout out of touch years ago. This can make them challenging to find, but they need to be found, nonetheless. To that end, the executor is obliged to make a list of everyone who might be able to inherit, whether they're named in the will, or closely related to the testator. Furthermore, they have to make known all of the decedent's major assets and debts.
Lastly, executors have to actually put forth the effort to establish that a will is valid. As the sole legal representative of the estate, this is their job, and is obligated for them to inherit, giving them an incentive.
How Can A Neptune, New Jersey Lawyer Help?
Because this can be (though isn't always) a fairly complicated process, it's a good idea to get a reliable probate lawyer in Neptune, New Jersey, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.