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 Wildwood Crest, 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 person named as executor of an estate typically has some work ahead of them. To ensure that they truly follow through on their obligations, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a will in Wildwood Crest, New Jersey is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
Typically, the person chosen to be executor is the one who would benefit most under the will, or under New Jersey's intestacy laws. "Intestacy" refers to a situation in which a person dies without a will, or "dies intestate." Every state has laws to address this situation, and there isn't a lot of variation from state to state. Typically, the decedent's property will go to his or her closest relative, and if absolutely no living relatives can be found, it will go to the state.
If the will doesn't name anyone as executor, or the person who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Wildwood Crest, New Jersey can apply to the court to be the executor.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, using all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
Can a Wildwood Crest, New Jersey Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might confront legal or tax issues with which you are unfamiliar. A Wildwood Crest, New Jersey attorney would be quite helpful in such a situation.