From our “Ask a Question” Mailbag: Precautions to Avoid Liability as a New Jersey Executor
Most Recently Updated July 10, 2018.
“I am the personal representative of my brother’s Gloucester County, New Jersey estate, and all the assets pass into trust for his minor children. I am worried his ex-wife will object to everything that I do as executor, as she is unhappy that she doesn’t get control over the children’s money. What can I do to avoid trouble?”
Precautions to Avoid Liability as a New Jersey Executor
This is one of those situations where no good deed goes unpunished. You serve as your brother’s executor to ensure your nieces and nephews are adequately cared for. Still, by serving as the personal representative, you are also responsible for any mistakes or errors you make that reduce the children’s inheritance.
If you take any action that reduces the inheritance, your former sister-in-law could object on behalf of the minor children and ask that you be surcharged. The judge has the power to make you use your money to make up for any mistake that reduces the children’s inheritance.
What is your best option?
Your best option is to retain a law firm with an active Probate Department to assist you with probating the estate and a busy Estate Litigation Department. We can help you prepare for your former sister-in-law’s inevitable objections—this way, the estate will be completed efficiently. And, perhaps, she will see that objecting is useless. If she objects anyway, the Litigation Attorney can help file a Formal Accounting.
Further Estate Litigation Questions about Precautions to Avoid Liability as a New Jersey Executor?
Executor protection is only one of many Estate Litigation issues our firm addresses. Consequently, if you want to learn more, please read my more detailed article, Trust and Estate Litigation All You Need to Know.
In Conclusion: Precautions to Avoid Liability as a New Jersey Executor
This short article explains precautions to avoid liability as a New Jersey Executor, and I hope you found it helpful. The links I included give even more detailed information on my website, and I hope you enjoy reading them.
No good deed ever goes unpunished, so the saying goes. You can hire professionals to advise and protect you if you are an Executor. The system recognizes that you are not a Trust department or bank. You are not expected to know all the details, but you are tasked with ensuring all the work gets done. Therefore, please get in touch with me and let us help you!
Let our Litigation Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Litigation Attorneys.
As this is the only area of the law we focus on, we have likely handled a situation similar to yours several times. Our lawyers are ready to help you and to answer your questions. Feel free to contact our office for a free consultation. Ultimately, we aim to put our 25 years of estate litigation experience to work for you.