It’s natural to worry about the well-being of your loved ones after you’re gone. One of the ways to find peace of mind is through creation of a will. A court will validate and disseminate the will after death through a process called probate.
What happens if I have a will?
A surrogate court determines the validity of a will and which copy of a will is most current if more than one version exists. From there, the court will hear contests to the contents of the will.
The executor named in the will and oversees the probate of the will to its heirs fairly and legally. This individual is legally bound to oversee the execution of the will. The role of executor comes with great responsibility, including legal liability. A court may name an administrator if they lack confidence in the abilities of the executor in the will.
What if there is no will?
The court will name an administrator as executor as they would if they ruled a will’s executor incapable. An administrator will divvy the estate as they see fit in accordance with the law. Of course, settling debts with the creditors of the deceased happens first. This burden does not fall on the surviving.
Peace of mind
Creating a will gives you more control over your final wishes. The state of New Jersey will determine the validity of a final will in the event of a person’s passing. Should a person have no will, the court will divide their assets amongst their survivors after paying all creditors and debts. Control over the probate process is why many people invest the time to draft a will and find a trustworthy executor.