Does New Jersey Place Limits on Who Can Serve as an Executor?
Making a will is an essential estate plan component for almost everyone. Through a will, you can decide who will inherit your property — and you can be very specific, getting into detail about a wide range of tangible and intangible assets — and you can also make important decisions such as who you want to serve as the guardian for your minor children and who you want to serve as the executor of your estate.
When you are trying to decide who to name as your executor and alternate executor (it is important to have at least one alternate, just in case), you should take into account many different considerations, including who you believe to be trustworthy and thus able to carrying out your wishes, who you trust that also has the time and capability to perform the role.
New Jersey Does Not Limit Who Can Serve as an Executor
Many people are concerned that the person they want to name as an executor may not be permitted to fulfill the role under New Jersey law because they live out of state, or because they have a criminal record. While some states do limit who can serve as an executor in this regard, New Jersey is not one of those states. To be clear, under New Jersey law, as long as a named executor is an adult and has legal capacity, they can serve as your executor.
A New Jersey court will step in, however, if there are reasons to believe that a named executor is not capable of fulfilling their duties due to incapacity or if the named executor has actually worked themselves into that role through fraud, duress, coercion, or other unlawful means.
Considerations to Take Into Account When Naming an Executor
Just because a person can serve as an executor does not necessarily mean that they should.
What considerations should you take into account? Think about some of the following, and consider whether the benefits of having a particular person as your executor may outweigh some of the limitations:
- When an executor lives out of state (and especially a great distance away), it can be much more difficult and complicated for them to deal with certain aspects of their role as an executor;
- If an executor has a criminal background that involves issues like theft, fraud, or other related issues that might pertain to how they would carry out their duties as an executor, you might want to consider whether another person might be better suited for the role; and
- Friends and family members who have especially busy and hectic lives — with work schedules, their own families — might have difficulty devoting the time that is necessary to serve as an executor, and it might ultimately be a relief to that type of person if you do select someone else you trust to serve as your executor.
Contact a Summit, New Jersey Estate Planning Lawyer Today
If you have questions about naming an executor, or if you are ready to make a will and create other important components of your estate plan, you should seek legal advice. One of the experienced Summit estate planning lawyers at Dempsey, Dempsey & Sheehan can answer your questions today, and we can begin working with you on all of your estate planning needs. Contact us today for more information about how we can assist you.
Source:
law.justia.com/codes/new-jersey/title-3b/
