Perth Amboy, New Jersey has a legal process known as "probate." This is when a court determines whether or not a will is legitimate, and, accordingly, whether or not to effectuate its provisions.
As part of the probate procedure, the court in Perth Amboy, 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 Perth Amboy, 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 general duty of the executor is to serve as the living incarnation of the estate. Their job is to commence 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 Perth Amboy, New Jersey
The executor has various duties concerning the will. First of all, they have to actually initiate the probate hearings with the court, and this procedure has to be finalized before the will takes effect.
Additionally, it's the executor's job to notify all affected parties that the person who made the will has died. "Interested parties" are usually people who are named in the will, or who would inherit the estate if the decedent had died without a will.
If the decedent was even reasonably well-off financially, it's likely that they'll have substantial amounts of both debts and assets. The executor is tasked with drafting 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.
Moreover, the executor is obliged to take a leading role in establishing 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 Perth Amboy, New Jersey Lawyer Help?
Because of the difficulties involved in probate, it would be smart to hire a reliable Perth Amboy, New Jersey probate lawyer, especially if you are the executor of an estate and unsure how to proceed.