In general, the executor’s primary role is to collect assets linked to the deceased individual to pay the taxes owed by the estate and to pay the debts associated with the estate. After this has been dealt with, the executor’s responsibility is to distribute any remaining assets to the estate beneficiaries.
While this is a very general overview, there are numerous details that frequently have to be managed in a typical New Jersey estate. This is why selecting the appropriate executor for your New Jersey estate is so important. You need to walk through the process with a New Jersey estate planning attorney so that you can make an informed decision about what is best for your future. Do not hesitate to reach out to an estate planning lawyer as soon as possible.
Selecting an executor and accomplishing other estate planning goals can be done easily when you have identified the appropriate attorney to help you with your situation. An executor will play an important role in the management of your estate, so it’s good to think ahead about the role this individual plays and the strategies and tools you’ll use to accomplish your estate planning wishes.