Estate Administration – Do It Yourself or Not?

A common question I am asked when talking to someone about hiring us to help with estate administration after a loved one dies is whether they need the assistance of an attorney or not.  My general answer is that it depends on the specifics of the particular matter as well as on how much the estate representative wants to handle him or herself.

More specifically, with the exception of certain tasks which cannot be delegated, as attorneys we can handle as much or as little of the estate administration process as a client desires.  Only the estate representative , for example (ie. Executor or Administrator), can open an estate bank account, sign checks drawn against this account and close out and withdraw funds from accounts in the name of the decedent (person who died).  For most tasks required to administer an estate, however, the estate representative can either take a “do it yourself” approach or seek professional assistance.   It really depends on the level of complexity.

Let’s start from with the beginning of the estate administration process.  If I pass away owning assets and I have bills to pay, the first question is “who can access my accounts?”  A second question is what happens to my assets, meaning “who is entitled to them?”  If I have co-owners or beneficiary designations at death on some of my accounts, then those individuals may be able to quickly access these accounts with a copy of the death certificate.  These are what we call non-probate assets.  No estate representative is needed or permitted to touch these accounts.

Anything that is in my name alone with no co-owners or beneficiaries on death, however, will need the appointment of an estate representative before it can be accessed.  My agent under power of attorney or court appointed guardian who may have been handling my finances while I am alive no longer has any authority after I die.

If I have a will validly executed in accordance with New Jersey law, the executor named in that document must present the will to the Surrogate to then receive Letters Testamentary.   Before COVID, we typically told callers that in most counties they could make an appointment to appear in person with the original will and a certified copy of the death certificate.   Now, many counties still do not allow or discourage in person appointments.  Instead, many require submission of an information sheet from which they will prepare the probate application which must be signed before a notary and returned to the Surrogate’s office.  Some clients take that on themselves.  Others do not have the time or desire to sort through the process but prefer legal assistance.

When no will exists, however, estate administration is more complicated.  I’ll discuss that next week.