When Can Beneficiaries Demand That Legal Fees and Costs Be Assessed Against an Executor?
Here’s an interesting case I recently read about. The case involved an executor who did a lousy job being the executor of an estate. …
Here’s a Quick Summary of NJ Waiver Requirements Before the Transfer of a Decedent’s Property
The New Jersey Transfer Inheritance Tax is a lien on all property owned by a decedent as of the date of his/her death for …
Is an IRA or 401(k) Exempt from a Spousal Elective Share Claim?
I’ve written a lot about the elective share rights of a surviving spouse when he or she is omitted from the will of his/her …
How to Pursue Legal Claims in an Estate Administration
We recently received a call from a personal injury attorney in need of help. The attorney had pursued a wrongful death claim on behalf …
A Refresher Blog About the NJ Prudent Investor Act
In a recent NJ case, a plaintiff claims the trial court erred by failing to find defendant violated The Prudent Investor Act (the Act) …
Does a Life Estate Holder Who is Also an Owner of Real Estate Get Paid Twice Upon Sale?
Here’s an interesting case. A sister and two brothers are named as owners on a deed. Sister also has life rights to the property. …
The Decedent’s Probable Intent Should Be Clearly Stated in His Last Will and Testament
In interpreting how to interpret a will, a testator’s intent “as expressed in his will controls the legal effect of his dispositions, and the …
When Can NJ Tax the Income of a Trust?
I just finished reading statutes which address Tax Nexus and trusts, especially when a trustee administers a NJ trust for out-of-state beneficiaries. I always …
Estate Planning: Beware of the Gift of Debt
It’s great to inherit property but what if that gift brings with it a big string – a string of debt attached to it …
Can a Surviving Spouse Avoid Probate in NJ When the Estate Value is Small?
The short answer is yes. In the absence of a will, if a deceased spouse owned less than $50,000 of assets to his or …
Beware of the Beneficiary Form (Part 4 of 4)
This is the fourth and final article about beneficiary designation and NJ probate and estate planning. For non-retirement assets with beneficiaries correctly titled, your …
Beware of the Beneficiary Form (Part 3 of 4)
This is the third post of a four part series on estate planning and beneficiary designations. I continue with my discussion of a beneficiary …
You May Be Entitled to a Tax Deduction If You Make Charitable Donations
As you may be aware, the IRS allows tax deductions for qualifying charitable contributions. But the government has made charitable gifting a complicated area …
The Death of a Debtor Spouse Extinguishes Judgment Debts to Marital Property Owned as Tenants by the Entirety
A marital home escapes debts and judgments of a deceased debtor spouse if owned as tenants by the entirety. A client owned their home …
Federal Gift Tax Returns: Avoiding Mistakes
Under the tax code, the general rules applicable to income tax returns apply to annual gift tax returns. That is, a 3-year statute of …
Understanding the Legal Impact of a Premarital Agreement in a Second Marriage
New Jersey law allows a spouse to waive his or her right to inherit the estate of a deceased spouse. A spouse’s premarital waiver …
Do You Have the Right Fiduciary for Your Estate?
Warning: Your Selection Does Matter When creating an estate plan, especially in your will and/or trust, an important decision you must make is the …
What Happens If You Die Without a Will?
We all know we are supposed to do estate planning, but not all of us get around to it. So what happens if you …
Understanding the Doctrine of Probable Intent in Probate Estate Litigation
Under N.J.S.A. 3B:3-33, “the meaning and legal effect of language used in a Last Will, trust or other legal document is determined by the …
You Cannot Avoid a Medicaid Estate Recovery Lien by Creation of an Elective Share Trust
The estate argued that the assets held in a trust created by a spouse are not subject to recovery by NJ because these assets …
Will NJ Demand Payment of Inheritance Tax From an Estate if the Beneficiary Only Has a Life Estate?
The short answer is yes. Surprised? Don’t be; it’s taxaholic NJ at it again. Under N.J.S.A. 54:36-1, when a person gives a life estate …
Hire an Appraisal and Auction Firm to Dispose of Estate Personal Property
Recently, a client who has quite a few valuable personal possessions confided she did not want to burden her executor with knowing how to …
When Can a Fiduciary Be Compelled to Produce an Accounting?
Clients often ask how long before he or she can compel an accounting from a fiduciary. NJ has statutes and case law that answers …
Don’t Confuse Testamentary Intent with Testamentary Capacity When Analyzing a Last Will & Testament
When contesting a Last Will, the testamentary capacity of its maker is often disputed. NJ law makes clear the differences between testamentary capacity and …
The Role of the Trustee of a Trust Established Under a Last Will and Testament Following Probate
Statutory and case law requires a trustee to diversify trust assets. Under the Prudent Investor Act, N.J.S.A. 3B:20-11.1 [to] -11.12, “[a] fiduciary shall diversify …
Understanding the NJ Laws That Govern Wrongful Death Claims Filed by the Administrators of an Estate
People often die as the result of an accident or negligence by others. Many times, these victims die without a Last Will. There are …
How to Successfully Refute the Legal Presumption that the Survivor of a Joint Account is the Legal Owner Upon Death – Part 2
In our last blog, I discussed how multiple account holders are presumed to be joint account holders with right of survivorship, so if one …
How to Successfully Refute the Legal Presumption that the Survivor of a Joint Account is the Legal Owner Upon Death – Part 1
According to N.J.S.A. §17:16I-5 (a), when there are multiple owners of a bank account, the law presumes the account to be jointly owned amongst …
Pay All Bills Before the Death of a Special Needs Trust Beneficiary
Video: Should You Pay Bills Prior to the Death of a Special Needs Trust Beneficiary? Sadly, the beneficiary of a Special Needs Trust …
What Makes a Will Valid and Legitimate?
In New Jersey, what are the legal requirements for making a Will? What happens if a Will does not meet every requirement? What is …