Posted on Fri Oct 3, 2014, on Probate and Estate Administration
Question: I am the executor of my mother’s estate in Gloucester County, New Jersey. How do I know when it’s safe to distribute the assets of an estate?
As the executor of an estate, that person is a fiduciary, and owes a duty to the beneficiaries. The executor also is the representative responsible to satisfy all valid estate debts prior to making distributions. Creditors include any taxes due, such as the mother’s final income tax return and the New Jersey Estate Tax return.