What is the role of a trustee?
Dealing with the probate of a will after losing a loved one can be overwhelming. Our mission is to take the burden from you and make it as simple as possible. The probate process involves providing appropriate notices, paying the debts of the estate, gathering and managing the estate assets, distributing assets to beneficiaries, and, for certain estates, filing inheritance and estate tax returns. Our firm can guide you and help you handle these tasks. For a consultation with an experienced probate attorney, contact Margaret M. Mahon, Esq. LLC.
Understanding probate
Probate is the process by which the court transfers assets and real property to heirs or beneficiaries. Probate is necessary even when a valid will exists:
- Testate: If there is a will, the deceased died “testate.” The Surrogate’s Court supervises the Probate of the Will. If there is an issue with the validity of the Will, a probate action is brought in Superior Court.
- Intestate: If there is no will, the deceased died “intestate.” The probate court appoints someone to supervise the administration of the estate according to New Jersey law. For individuals who have surviving family, the closest living relative, such as a spouse, child, or parent, in order of priority, may apply to serve as the administrator.
- Assets: Estate assets are distributed after all of the taxes, debts, and administration costs have been paid, although small distributions may be made prior to that. These expenses and debts are paid by the estate and impact the distribution that the beneficiaries receive. If you have a Will, then you may determine how the debts and taxes will be paid and which beneficiaries and assets may be impacted.
At a minimum, you need to have a valid will in place. Our firm can help you take this crucial step to protect your family and your ability to pass your assets to your loved ones when you are gone.
Admitting a will to probate
Under New Jersey law, a probate action cannot begin until eleven days after the date of death. Probate begins with filing the original will and a certified copy of the death certificate in the surrogate’s court in the county where the decedent resided at the time of death. In short, the executor of the will must:
- Collect and protect assets of the estate
- Pay estate taxes and debts of the decedent
- Make distributions to beneficiaries
- Provide an accounting to the court
The probate process can be complicated. Our legal team can help you comply with your duties as an executor and successfully probate the will of your loved one. We assist with inheritance tax issues and arranging for waivers of real estate.
Obtain the advice and guidance you need in probating a will
If you need assistance with a probate matter, contact Margaret M. Mahon, Esq., LLC. Our Red Bank office provides free parking and flexible hours for appointments by request. If necessary, we can travel to meet you.
