One of the most important parts of any comprehensive estate plans in New Jersey is the act of choosing another individual to act as the executor of the estate. An executor is the individual who will be responsible for fulfilling all of the obligations listed in the estate plan. It is so crucial to choose an executor that can be completely trusted, as they will be the one to execute all of the decedent’s wishes after they pass away.
It is also important that the executor is aware of all of the duties they will be expected to fulfill before accepting this role. Not only is acting as an executor a significant responsibility filled with paperwork and other tedious tasks, it is also very time-consuming. Therefore, it is best to choose someone that has the time to satisfy all responsibilities. An executor will have to carry out any wishes that were documented in the decedent’s will. They will have to pay estate debts, file tax returns, manage assets, and distribute assets to the beneficiaries noted in the will. If an executor does not fully satisfy their responsibilities, they may be replaced with someone else.
If you have questions about appointing an executor or acting as an executor, contact our firm today.
Our firm understands that so much of your future is on the line in matters of divorce, family law, bankruptcy, and estate planning. Before taking any sort of legal action, it is important to discuss your legal matter with an experienced attorney. Contact The Radol Law Firm to discuss any divorce and family law matters you may be faced with.