Why has fiduciary abuse become the leading cause of probate litigation in New Jersey?
Thomas Begley reports that over 30 years, executor, trustee, and power-of-attorney misconduct now surpasses will contests and guardianships. Clients meticulously allocate assets but often appoint unqualified fiduciaries, triggering neglect, self-dealing, and family disputes.
How do executor and trustee roles differ under New Jersey estate law?
Thomas Begley distinguishes short-term executor duties—asset collection, debt/funeral/tax payment, beneficiary distribution—from long-term trustee obligations. Trustees manage investments and enforce trust terms (health/education/support for minors; benefit preservation for special needs recipients) over years or lifetimes.
Which four factors should never determine New Jersey executor or trustee selection?
Thomas Begley warns against appointing based on age (eldest child), gender (male preference), proximity, or fear of hurt feelings. One case involved a mother naming an unqualified son-in-law over three capable daughters—illustrating outdated bias over competence.
What two essential qualities must every New Jersey fiduciary possess?
Thomas Begley demands impeccable integrity—ensuring strict adherence without rationalized “borrowing”—and common sense. Fiduciaries need not be professionals but must seek attorney/accountant guidance; internet self-reliance frequently causes catastrophic errors.
Does geographic proximity still matter for New Jersey executors and trustees?
Thomas Begley views location as a tiebreaker only—electronic signing (DocuSign/Adobe) eliminates distance barriers for contracts and filings. Health care directives remain the exception; nearby agents respond faster to midnight hospital crises.
When do co-executors or co-trustees work effectively in New Jersey estate plans?
Thomas Begley endorses joint roles primarily for two antagonistic siblings—post-death incentives align (commissions split equally; disputes affect only their inheritance). Multiple co-fiduciaries risk paralysis; one qualified decision-maker prevents “two quarterbacks, no quarterbacks” deadlock.
Why do joint powers of attorney often fail during New Jersey incapacity crises?
Thomas Begley recounts best-friend sisters appointed jointly—dementia triggered nursing-home versus in-home care disagreement. Requiring mutual consent froze action; independent authority creates uncoordinated decisions. Single agents with successors avoid lifetime gridlock.
How many successor executors or trustees should New Jersey residents name?
Thomas Begley mandates at least one alternate, preferably two—especially for married couples naming each other primarily. Predecease or refusal forces costly guardianships; backups prevent probate court intervention and thousands in unnecessary fees.
How can New Jersey residents correct poor executor or trustee choices without high cost?
Thomas Begley simplifies updates via codicil-equivalent pricing for computer-age revisions—new wills replace outdated fiduciaries affordably. Initial counseling prevents 25% of errors; intake forms reveal disqualifying traits (poor money management, conflicts) before documents execute.