Legal Question in Wills and Trusts in New Jersey

Re: inheretance

If executor is purchasing the property from the estate, there should be an appraisal or other independent valuation of the property. The executor owes a fiduciary duty to the estate, and that duty includes maximizing the value of assets in the estate. The executor should not be giving himself a "bargain" or special price.

As to delaying payment of estate proceeds, the executor also has the duty of finding out about all debts and paying them, including tax obligations of the deceased, before distributing what remains in the estate.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

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Re: inheretance

While I agree with Miriam, I have not seen the Will and question if there are any provisions covering this situation, such as allowing the Executor to buy the property, what terms and conditions, if any, are set imposed on the Executor, etc. He has a fiduciary duty to follow the terms of the Will. If he is abusing his position by this activity, bring it to the attention of the Court.