31 Jan Am I responsible for my deceased brother’s affairs?

Q. My brother passed away. He has a holographic will which states, “I leave everything to my friend,” who is named. The will is signed and dated by my brother, but it’s not not notarized or witnessed. It mentions two bank accounts and he wants to be buried in a pine box. Also, will states his car is paid off and it says where the title is. I want nothing, but am I legally or financially responsible for anything? Who can get access to the bank account and make funeral arrangements, and who has to clean out his apartment?
— Brother

A. We are sorry to hear about the loss of your brother.

It’s possible you have no responsibilities here.

Unless you provided a personal guarantee to pay any of your brother’s obligations, you would not be responsible for his debts, said Jason Marx, chair of the Tax & Estate Planning and Elder Law & Special Needs Planning groups at Curcio Mirzaian Sirot in Roseland.

“However, if in his holographic will he names you as the executor of the estate, and if you qualify as the executor of his estate, then you would become responsible to administer his estate, pay his debts — from your brother’s assets, not your own — and ultimately distribute the assets according to the terms of his will,” he said.

The individual with the authority to access your brother’s bank accounts is the person who assumes the responsibility as the executor of the estate, Marx said.

In general, it would be the responsibility of the executor to handle all of your brother’s property, Marx said.

He said the executor should go through all of the items to locate any assets, including bank accounts, brokerage accounts, IRAs and more.

“The executor would then arrange for the apartment to be cleaned out and to terminate the lease, assuming that the apartment is a rental unit,” he said. “There is nothing that would prohibit the executor from hiring a service to clean out the apartment and possibly sell any items that have value for the estate.”

It’s important to note that just because someone is designated in a will to serve as executor, it doesn’t mean they must accept that position, Marx said.

“If someone is designated in will to be the executor of the decedent’s estate, and if that person does not wish to accept that responsibility, then the designated individual can renounce the appointment,” he said. “That typically requires the designated individual to execute and file a renunciation with the surrogate’s court in the county in which the decedent resided.”

Email your questions to .

This story was originally published on Jan. 31, 2022.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.