QUESTION

In NJ, is an executor responsible to give a yearly report and if so, how often. (The owner of the estate is alive)

Asked on Jun 16th, 2016 on Estate Litigation - New Jersey
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In New Jersey, is an executor of an estate responsible to give a yearly report and if so, how often. (The owner of the estate is alive)
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
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If the owner of the estate is still alive, there is no executor.  There is a document naming an executor, but one is not appointed until the person who wrote the will dies, and the will is admitted to probate.  The executor must qualify and then letters are issued indicating the person is the executor.  The person who writes the will has the right to change it up until the day they die, so there is no executor, and there is no estate, until the person dies. 
Answered on Jun 23rd, 2016 at 5:50 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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