Watchung, New Jersey has a legal process known as "probate." This is when a court determines 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 Watchung, 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.
Normally, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Watchung, New Jersey will assign 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 executor is the person who has to get the ball rolling on the probate process, and basically serves as a living representation of the decedent's estate. It is their job to defend the estate from debtors (if a legitimate defense for the debt exists, of course), and wind up any legal proceedings that the decedent might have been immersed in. If an executor needs to be appointed, a court normally chooses the person who will inherit the most if the will is given effect, since that person will have the most inducement to carry out the duties of the executor.
Duties of the Executor in Watchung, New Jersey
The executor has many duties regarding the will. First, they have to really initiate the probate proceedings, which must be finalized before the will is effectuated.
Furthermore, it's the executor's job to notify all affected parties that the person who made the will has died. "Interested parties" are typically people who are named in the will, or who would inherit the estate if the decedent had died without a will.
Because people who stand to inherit from the testator may be scattered around the country, or even the world, contacting them is sometimes challenging. One of the responsibilities of the executor is to gather a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They further have to account for all the testator's debts and assets.
As the representative of the estate, the executor has to take charge of the probate process, filing the required court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is fulfilled, they'll probably find it to be worth the time and expense.
How Can A Watchung, New Jersey Lawyer Help?
Because of the intricacies inherent in the probate process, it is a good idea to hire an accomplished Watchung, New Jersey probate lawyer, particularly for the executors of estates.