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 4
How Do I Access a Deceased Owner’s Account? Part 3 In last week’s blog post, I explained the process of accessing a deceased owner’s account both when there is a Will and when there is not. But as I said last week, once that is accomplished the financial institution may still not
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
How Do I Access a Deceased Owner’s Account? Part 2
Last week I addressed a question we get frequently in our office - how to access the financial account of a loved one who has died. The answer is not the same for each account. We must first determine whether the account is a probate or non-probate asset, meaning “is it controlled
Selling Real Estate of a Deceased Owner (Part 3)
In this third post of three I continue with the story of a call we received about an unmarried couple who owned real estate together. The woman passed away first and a year later the man died. As I explained last week, the administrator of the man’s estate found a buyer for
Selling Real Estate of a Deceased Owner (Part 2)
In my post last week, I told you about a call I received about an unmarried couple who owned a home together. The woman had died a year before the man. I explained that New Jersey has an inheritance tax that is payable 8 months after death. The tax is based on the
Selling Real Estate of a Deceased Owner (Part 1)
I have written several blog posts about problems that arise when selling the real estate of a deceased owner. Here is another one that came to our office. An unmarried couple purchased a home together, which they held as tenants in common. While they referred to each other as fiancées, they never did
Estate Administration – Do It Yourself or Not (Part 2)
In my blog post last week, I began a discussion about what role an attorney can play in the estate administration process. More specifically, how much involvement we have in any case depends on the complexity of the matter and how much our clients want to take on themselves. As I
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