What Does it Mean to Disclaim an inheritance?
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Estate Administration: Probate is the first Step When there is a Will
A Last Will and Testament designates an Executor who has legal authority to handle the estate assets. The Will also specifies who receives what, and in what way; the language of the Will specifies if the share is to be put in a Trust or is to pass outright, and who will receive the share if the named beneficiary has died. If assets are jointly owned or if they have named beneficiaries, they...
County Surrogates Offices are working remotely, but some procedures are suspended
The Middlesex County NJ Assignment Judge has issued a Notice with details concerning procedures for filing and handling of cases in Middlesex County now that the courts are closed to in-person proceedings. mcba_county_procedures_3-31- Depending on the court, cases can be initiated electronically or by mail or drop off in an outside mailbox; mail is being held for 24 hours before...
Why would an 18-year old need a Power of Attorney or a Will?
“Powers of attorney are for old people.” “I don’t need a Will, I don’t own anything!” Truth be told, signing a basic set of ‘estate plan documents” at age 18 can prevent expensive legal problems later. It’s like fire insurance — you get it, but hope you don’t need to use it. I have been in court on so many occasions when an...
Distributing an Estate? Watch out for child support judgment liens
The Executor of an Estate (named under the Last Will and Testament) or Administrator of an Estate (appointed by the Court because there was no Will or the Executor couldn’t serve) has an obligation to take care of all of the bona fide creditors of the estate before distributing the rest and remainder to the beneficiaries or heirs according to what the Will specifies or the law requires....
Tell your Executor where you’re keeping your Will
Recently I got a call from the child of a client of mine who had just recently passed away. The child was panicky because they could not locate Mom’s Last Will and Testament. Mind you, this particular Mom was a very organized person. Bills were always paid on time; the house was meticulous; papers were looked at, dealt with, and either filed, scanned or discarded. The Mom had reviewed...