Your loved has named you the executor of the will and now you have to decide if you accept the responsibility. The New Jersey probate process can take a long time. It is perfectly normal to see it as an honor that your loved one named you the executor. Are you ready for the entire responsibility? Investopedia explains the factors that you need to consider.
You do not want to enter into the process without certainty. Do not accept the responsibility right away. You need to ensure that you have the time to focus on the estate. If the estate is large, if there are a large number of beneficiaries and possessions, then you may have a complex road ahead of you. It will take more of your time and energy.
From the moment that you accept the responsibility, you have obligations. You have to start work immediately. You need to have a list of all debts and assets, know where the asset list and will are and be able to contact all of the attorneys or agents involved. When a loved one asks you to be the executor, you should speak to him or her about his or her wishes so that you have no questions when he or she passes.
You will be responsible for probate, funeral arrangements, debts and assets. An executor does more than simply carry out the wishes of the testator or follow through with the will. You must be a detail-oriented person ready for the responsibility.
None of the above is to be taken as legal advice. It is for informational purposes only.