It can be beneficial for you to plan for your estate administration. By planning for your estate administration, your friends and family will not have to worry about your possessions and what to do with them. Instead, you will have already created a plan for them. Probate is an important part of the estate administration process. It is a process that is involved in estate administration where documents to plan for someone’s estate are involved in the planning process. These documents can include a will, which is made by an individual to plan for their possessions. There are certain procedures that need to be followed to ensure that a will was made legally. The one making the will should not be deceived or convinced in any way. They must be of a clear state of mind to show that they were capable of making decisions for their will. An executor of the estate is named in someone’s will to be involved in the probate and estate administration process. They will have to bring the will to probate once the individual dies. This can then allow the will to be processed and examined for the distribution to occur. An executor of the will has to carry out tasks that were left behind, which can involve paying for debts and taxes. Executors must take their role seriously as they are the ones who are now representing this individual’s estate. They also have to gather and distribute the assets that are named in the will to be given to a specific beneficiary.
When are assets distributed to beneficiaries?
The distribution of someone’s estate is an important part of the process that involves the role of a beneficiary or multiple beneficiaries. In their will, they have named beneficiaries to collect assets. They could have given their house to their child. They may have named a sentimental item to a close friend. Whatever the case is, these beneficiaries are entitled to that piece of property. When all the proper documents are filed with the Surrogate’s Court, the heirs of the estate should receive a citation that establishes the Surrogate’s Court where probate will occur. This citation will also include a list of the rights of all interested parties and the responsibilities that the executor must complete. When no issues are present, the executor can then carry out the wishes outlined by the testator and administer the will.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 20 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.