Legal Question in Wills and Trusts in New Jersey
If an executrix cashed bonds that were not tracked in the will (listed), in circumstances where the decedent marked as cashable to: decedent's name, and a second name (which he did). Can the executrix be brought up on any chrages by authorities? Can't contest the will because it is to late, nor were these bonds listed in the will anyway.
1 Answer from Attorneys
First, your question is unclear, so more facts are needed. I am not sure what you mean by the use of the terms "tracked in the Will", or "decedent marked as cashable to decedent's name", or "a second name"? In general, a Will does not usually list specific assets owned by the decedent, individually, as these could be changed over time and each time there is a change, the Will would have to be revised. Also, a Will does not operate on assets that pass outside the Will, such as those containing a second name (joint ownership), or which have a designated beneficiary, such as POD accounts, ITF accounts, retirement plans and/or insurance policies.
If the Executor acted improperly he can always be surcharged by the Court, not by contesting the Will, but an action for accounting, removal and surcharge.