Sunday, September 16, 2018

An Overview of the New Jersey Probate Process (Part 1)

As with anything involving the law, the probate process can be difficult to wrap your head around on your first go or your fifth. It’s made a little easier if you can hire an attorney experienced in the probate process, but things should go smoothly, so long as everything is in order before death.  Even if they’re not, don’t fret! Probating a will in New Jersey is divided into six steps.

  • Validating the will
  • Appointing an executor or executors
  • Taking inventory of the estate
  • Paying all claims against the estate
  • Paying all estate taxes
  • Distributing any and all remaining assets

In case that’s still a bit confusing, let’s take a closer look at some of the major steps in the probate process.

  • Obtain Probate Papers and Qualify as an Executor

Probating is a word that can look scary at first, but really, it’s just a fancy word that means determining the genuineness of a will, and this process begins after death. It can be performed either by a surrogate or the Superior Court of the county where the deceased lived when they died. A personal representative or executor can be appointed by going to the surrogate or Superior Court, though some documents are needed.

Those include: the original will, the certified death certificate, and unless the will is self-proving, at least one witness who signed the will and can prove it is his or her signature on the will.

However, if these steps are not followed properly, either the Surrogate or Superior courts can help the executor(s) in following the proper procedure to make sure that things go smoothly.

  • Inventory

Taking an inventory of the estate is the next step in the process. Basically this just means assessing the value of all the stuff in the entire estate. While the executor should be able to handle the basic things, high-value assets (homes, vehicles, land or any valuable collections, such as art) should be handled by professional appraisers that have been appointed or certified by the court.

  • Pay Claims of the Estate

It is the executor’s responsibility to notify any creditors or those with claims against the estate. Anyone who has a claim should notify the probate court within a certain time period. The executor will also be responsible for accepting or rejecting any claim as it is submitted. If it is accepted, the claim is paid out of the total value of the estate. If a claim is rejected by the executor, creditors may file a lawsuit against the estate. Once any and all claims have been dealt with and inventory is complete, it is then submitted to, reviewed and affirmed by the court.

The post An Overview of the New Jersey Probate Process (Part 1) appeared first on Scott Counsel.



source http://www.scottcounsel.com/2018/09/17/an-overview-of-the-new-jersey-probate-process-part-1/

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