In Terrorem Clauses – Enforceable or Not? Part 2
In my post last week, I explained the concept of an in terrorem clause.  These clauses are designed to discourage will challenges, however they do have limitations.  They work by providing that if someone challenges the will they would receive nothing.  This acts as a disincentive to challenging the will if the person
What Qualifies as a Last Will and Testament? Part 3
In my last 2 blog posts I have explained the elements of a last will and testament.  New Jersey law clearly sets out the requirements which, if followed, make the probate process much easier than when the law is not followed. While I am always an advocate for consulting with an experienced
What Qualifies as a Last Will and Testament? Part 2
In my blog post last week, I explained the elements of a validly executed will.  When someone dies with a will, it must first be admitted to probate before the executor named in the document can begin to do what is required to administer the decedent’s assets. In New Jersey, if the
What Qualifies as a Last Will and Testament? Part 1
What Qualifies as a Last Will and Testament? Part 1 In my first conversation with family members after a loved one dies, not infrequently someone will tell me that the decedent (person who died) verbally expressed his or her wishes about how they wanted their estate to be distributed. In some cases
What is an Insolvent Estate? (Part 3)
In my blog post last week, I explained that when the assets of a decedent are insufficient to cover all estate debts, the debt is classified by priorities.  Debts are entitled to be paid in a certain order of priority.  Eventually, however, in the case of an insolvent estate we will get
What is an Insolvent Estate? Part 1
As I have written about previously in this blog, estate administration involves gathering the assets of the person who died, paying all debts and taxes owing, and distributing the remaining assets to the rightful heirs - determined either by a will if there is one or by state intestacy laws
Dispute Over a Retirement Account – Part 2
In my blog post last week I told you about a recent Wall Street Journal article that caught my eye.  Jeffrey’s siblings sued to recover their brother’s retirement account.  In 1987 Jeffrey designated his girlfriend at the time as the beneficiary of the account.  He broke up with her in 1989 but never
Searching for Missing Heirs – Part 3
The last 2 weeks I have written about the increasing number of estate administration matters in our office in which there was no will and it is not clear who the heirs are.  These are cases where the decedent had no spouse or children.  We may know of the heirs on one
Searching for Missing Heirs – Part 2
In last week’s blog post I talked about how many people are alone without apparent family and that dying alone - from an estate administration perspective - raises issues such as identifying the rightful heirs. For people that don’t have close relationships, they probably have less reason to think about executing
Searching for Missing Heirs (Part 1)
There have been a number of stories in the media about an epidemic of loneliness among the elderly. This is in part because families are smaller and more spread out.  From an estate administration perspective, this means that many of these same people are dying alone and without apparent or at