When a person dies, a process recognized as "estate administration" must be carried out. This refers to all the processes 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 North Caldwell, New Jersey, the process will be carried out according to the directives included in the will, assuming they are legitimate and enforceable.
Commonly, the will appoints an executor whose job it is to oversee the administration of the will.
The executor typically has at least some work cut out for them. This evidently raises the issue of compensation. The easiest way to guarantee that the executor does his or her job is simply to appoint the person who has the most to gain from the will. That way, they cannot inherit until the process is done.
What if The Will Does Not Name an Executor?
If a North Caldwell, New Jersey will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is most commonly the person who would inherit most under the will, or under the intestacy scheme of New Jersey. Intestacy is when a person dies without having made a will, or if a will turns out to be invalid. The intestacy laws of each state govern how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
If no executor is named in the will, anyone with a share in the will can apply to the court in North Caldwell, New Jersey to be the executor of the estate, if they wish.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, utilizing all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a North Caldwell, New Jersey Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial intricacies that may arise, an accomplished North Caldwell, New Jersey lawyer can make this process a great deal easier.