Legal Question in Wills and Trusts in New Jersey
I am the executor
I am the executor of my mother's will, I became this when my brother unexpectedly passed away. i am the only surviving sibling, and my father passed away 16 years ago. Now here is my question. Wha exactly does being hte executor give me? My mother said something to the effect that my sister in law will be co-executor. do i hav emore rights are they equal? My mother is leaving all to her 4 grandchildren, and as far as I know nothing to me. How is this handled? The grandchildren are age 9 thru 4, where will the money go? Do i have any control over this for my children. My mother also has estate planning done where my name was put onthe deed to her proeprty inthe event that she had to go into a nursing home, how does this effect the will, being that I have a percentage in the home, does this entitle me to a portion of the estate? Does thsi effect the will or change anything?LAstly, dothe executors take a fee for being executors, and does this have to be drawn int the will? Any insight you may have would be greatly appreciated.
2 Answers from Attorneys
Re: I am the executor
Based on the myriad of questions and problems, the best advise I can give you is to see a lawyer with a copy of the will. If you are in North Jersey please call my office. Otherwise go to a lawyer near you. Good luck.
Bernie Berkowitz 973-808-2003
Re: I am the executor
The will should say to whom your mother's property goes. The executor is responsible for paying her debts, collecting her assets, paying federal and state taxes (income and inheritance and estate), and for distributing what is left as directed in the will.
Being executor does not change what was left to you in your mother's will. As executor, you may be paid a fee for the work you will be doing on behalf of the estate.
Your ownership of the house, if your mother's entire interest was transferred to you be a deed that was recorded, takes the house out of her estate and means that you have owned it since the deed was given.
It is not clear from your question whether or not your mother is still alive. As long as she is alive, she may change her will, and the last valid will she signs before her death is the one that will control.
If your mother did not write a new will since your siblings, who were named as co-executor, died, then even you would serve alone. If you were not named as executor and all the other named executors have died, you could apply to the Surrogate's office in the county where your mother lived to be appointed as executor.
If your mother has died, you should locate her will and consult an attorney to assist you in administering the estate, if you were named as executor, or if there are no surviving named executors.
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