When New Jersey citizens pass, their will is entered into the probate process. During this process, the executor named in the will must take care of paying off the deceased person’s debts and distributing their assets according to their will. This is a position that requires a lot of responsibility, so it shouldn’t be given just to anybody.
Your executor needs to be organized
Estate planning involves determining your wishes upon your death and entrusting their fulfillment to someone else. Once you have your will planned out, you’ll need to name an executor. This person needs to be someone who is very organized and unable to be persuaded by other people. Since their job is to carry out all of the legal aspects of your will, you want to ensure that this process is done correctly. It’s a good idea to make a list of traits that an executor should have and compare that list to any potential people you’re thinking about to ensure that they fit what you need.
You and your executor need to be on the same page
It’s not uncommon for someone to name a specific person as an executor of their will and not tell them much more. As an executor, the person needs to understand exactly what your wishes are. It’s vital that you talk about them while you’re still living so that they are privy to that information. Realize that once you pass, they are not able to ask you specific questions regarding what your wishes are.
Choosing an executor for your will is a big decision. It’s also a good idea to have a contingent executor just in case your first-named executor is unable to perform their tasks.