When a person dies, a process identified as "estate administration" must be carried out. This refers to all the procedures 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 Paterson, New Jersey, the process will be carried out according to the directives contained in the will, assuming they are valid and enforceable.
Frequently, the will appoints an executor whose job it is to oversee the administration of the will.
The executor usually has at least some work cut out for them. This apparently raises the issue of compensation. The easiest way to ensure 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 finished.
What if The Will Does Not Name an Executor?
If the will in Paterson, New Jersey does not name an executor, or the decedent left no will to be found, the court has to appoint a person to serve as the administrator of the estate.
Typically, this will be the person who has the most to acquire from the will, or who would gain the most under New Jersey's intestacy scheme (the system that distributes the decedent's property to his or her closest living relatives, if he or she dies without a will).
In cases where the will doesn't name an executor, or the person named is unable to take on that role for whatever reason, any person who has some direct stake in the decedent's estate (either because they're named in the will or stand to inherit by intestacy) can petition a Paterson, New Jersey court to be appointed executor.
Once an executor is appointed (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to protect its interests to the fullest extent possible. They also are required to accurately inventory the estate's debts and assets, as well as notify potential beneficiaries.
Can a Paterson, New Jersey Estate Administration Attorney Help?
Some people are surprised when they find out they've been named the executor of a relative's estate. The responsibilities can seem daunting, but with the help of a knowledgeable Paterson, New Jersey attorney, the process almost always goes pretty smoothly.
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