FAQs for Probate of Estate After Death

Probate in NJ is the legal process of administering a deceased person’s estate. The process involves identifying and valuing the deceased person’s assets, paying off any debts or taxes owed, and distributing the remaining assets to the beneficiaries or heirs.

Probate is necessary in NJ when the deceased person owned assets in their name alone that do not have a designated beneficiary or co-owner. Assets that are held jointly with right of survivorship or that have a designated beneficiary, such as life insurance policies or retirement accounts, typically do not need to go through probate.

The executor or administrator of the estate is responsible for administering the probate process in NJ. The executor is typically named in the deceased person’s will, while the administrator is appointed by the court if there is no will or if the named executor is unable to serve.

The length of the probate process in NJ can vary depending on several factors, such as the complexity of the estate and whether there are any disputes among the beneficiaries or creditors. In general, the probate process can take several months to a year or more.

Assets that are subject to probate in NJ include:

– Real estate owned solely by the deceased person
– Personal property, such as cars, jewelry, and household items
– Bank accounts, investments, and other financial accounts owned solely by the deceased person
– Business interests owned solely by the deceased person

The executor is responsible for administering the probate process in NJ. This includes identifying and valuing the deceased person’s assets, paying off any debts or taxes owed, and distributing the remaining assets to the beneficiaries or heirs. The executor also has a fiduciary duty to act in the best interests of the estate and its beneficiaries.

Debts and taxes owed by the deceased person are typically paid from the assets of the estate during the probate process in NJ. The executor is responsible for identifying and paying off any outstanding debts or taxes owed by the deceased person.

Assets are distributed during the probate process in NJ according to the deceased person’s will or, if there is no will, according to the state’s intestacy laws. The executor is responsible for distributing the assets to the beneficiaries or heirs in accordance with these laws.

In some cases, it may be possible to avoid the probate process in NJ by setting up a revocable living trust or by using other estate planning strategies. However, these strategies can be complex and may not be appropriate for everyone.

While it is not required to have an attorney to help with the probate process in NJ, it is generally recommended that you do so. An attorney can provide legal guidance and help ensure that the probate process is administered in accordance with state law.