Wyckoff, New Jersey has a legal process known as "probate." This is when a court determines whether or not a will is lawful, and, accordingly, whether or not to effectuate its provisions.
As part of the probate procedure, the court in Wyckoff, 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 Wyckoff, 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 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 engaged in. If an executor needs to be appointed, a court typically chooses the person who will inherit the most if the will is given effect, since that person will have the most reason to carry out the duties of the executor.
Duties of the Executor in Wyckoff, New Jersey
There are quite a few things that an executor is accountable for. At the outset, they are obligated to file the probate action with the appropriate court. No progress, let alone any final disposition of the estate, can be made until this happens.
The executor also has to provide those with a direct interest in the will notice that the decedent has deceased, by filing an official death certificate.
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.
Lastly, executors have to actually put forth the effort to establish that a will is valid. As the sole legal representative of the estate, this is their job, and is obligated for them to inherit, giving them an incentive.
How Can A Wyckoff, New Jersey Lawyer Help?
Because this can be (though isn't always) a fairly complicated process, it's a good idea to get a reliable probate lawyer in Wyckoff, New Jersey, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.