How Do I Access a Deceased Owner’s Account? Part 5
In the past 4 blog posts, I have been discussing how to access a deceased owner’s bank or brokerage account. In part it depends on whether the account is a probate asset - controlled by a will or state intestacy laws when there is no will - or a non-probate asset. But
How Do I Access a Deceased Owner’s Account? Part 3
In my blog posts the past 2 weeks I have addressed this commonly asked question. I explained the distinction between probate assets - ones controlled by a will or the intestacy laws - and non-probate assets which are not. Generally, an executor or administrator must be appointed before an account can be
That Pesky Tax Waiver – Part 3
This week’s post is the last of 3 on New Jersey’s tax waiver. Last week I showed you how a small bequest in a will to a non-Class A beneficiary will trigger the need to file an inheritance tax return. I also said, however, that in some instances a
That Pesky Tax Waiver – Part 2
In my post last week, I referred to New Jersey’s tax waiver. It is an often misunderstood process designed to insure that the State receives the appropriate amount of taxes when someone dies. As I explained, New Jersey’s estate tax was phased out as of 2018 but we still
That Pesky Tax Waiver – Part 1
As I have written in previous posts, New Jersey did away with its estate tax in 2018. This was part of a compromise between the state legislature and then Governor Christie who agreed to an increase in New Jersey’s gasoline tax. I have also pointed out that we still