PROBATE & ESTATE ADMINISTRATION
Probate and Estate Administration Attorneys Ocean and Monmouth County, NJ
When a loved one passes away, the nuts and bolts of estate administration is often the last thing that surviving family members want to deal with. Unfortunately the estate administration and probate process can be quite complex and time consuming in New Jersey without the proper legal protection. Probate procedures also differ on a county to county basis, making the process even more complicated in certain areas. Certain taxes must be paid, wills must be interpreted, and the estate administrator must handle the many responsibilities of the probate and administration process. Without the help of a seasoned attorney, families may risk prolonging the probate process, paying higher taxes, or even losing out on assets to which they are entitled.
At The Bronzino Law Firm, our probate and estate administration attorneys are proud to serve families from local Monmouth County and Ocean County communities including but not limited to Asbury Park, Neptune, Spring Lake, Toms River, Brick, Point Pleasant, and across Central New Jersey. Our legal team has extensive experience dealing with the many intricacies of the estate planning and administration process for local clients. We believe in offering highly personalized and dynamic legal solutions to support not only our clients, but also their families throughout the legal process.
To learn more about probate and estate administration laws in New Jersey and how they may impact your family, please call our Brick, NJ or Sea Girt, NJ offices at (732) 812-3102 today for a free and confidential consultation.
What is Probate? Ocean, NJ Estate Attorneys
“Probate” is the legal process by which a will or an estate with no will is examined, executed, and administered. This process often begins by the will’s executor and/or personal representative of the estate filing a probate case with the County Surrogate Court. Once the process has begun, our Ocean estate attorneys will help clients go through probate legal proceedings. If the estate has no executor or personal representative, the courts will appoint a representative at a judge’s discretion. At a very high level, these representatives must complete the following during the probate process:
- File paperwork with the local Surrogate Courts
- Acquire the decedent’s assets and put them in good order
- Use funds to pay for necessary incurred expenses such as funeral costs, outstanding debts, expenses accrued during the estate administration process, etc.
- Distribute assets as per the will or New Jersey probate law
Estate Administration Lawyers Toms River
The probate and estate administration process is heavily dependent on the existence of a valid last will and testament. Our Toms River estate administration lawyers may be able to drastically reduce the administration timeline when a valid and enforceable will is in effect. However, many individuals pass away without a will. In these cases, there are several scenarios which may take place that can have a material impact on probate proceedings. Some scenarios allow for an expedited process for simpler cases.
Expedited Probate Proceedings may result when either:
- All assets are cumulatively valued at $20,000 or less AND there is no enforceable will AND there is a single beneficiary who is either a surviving spouse or domestic partner
- All assets are cumulatively valued at $10,000 or less AND there is no enforceable will AND there is only one potential heir to the estate
It is also worth mentioning that some scenarios are eligible to forego the probate process in it’s entirety. These estates may include those which are in a revocable trust, property owned by joint tenants with a right of survivorship, checking or savings accounts with Transfer on Death or Payable on Death stipulations, and more.
Asbury Park Tax Planning and Probate Lawyers
Until recently, New Jersey estates were subject to both Inheritance Tax and Estate Taxes, known colloquially as “death taxes”. However, as per the 2018 New Jersey Estate Tax Repeal, decedents who passed away on January 1st, 2018 or later are no longer responsible for paying estate tax of any kind. For individuals who died prior to this date, you may want to contact a qualified Asbury Park tax planning lawyer to discuss your options for paying estate tax.
When it comes to inheritance tax, there are two general categories:
New Jersey Residents: owe taxes for all assets being administered through an estate upon death. This can include owned real estate, retirement accounts, bank accounts, owned businesses, and much more.
Non-New Jersey Residents: non-resident decedents may only owe inheritance tax on items which were located in New Jersey. Typically this includes owned businesses and/or real estate which are located in our state.
Questions About Estate Planning or Probates? Contact our Estate Administration Attorneys with Offices in Sea Girt and Brick Today
Attorney Robert E. Brennan Jr., Esq. has years of focused experience within the areas of probates, estate administration, last wills and testaments, living trusts, and estate planning. Along with founding partner Peter J. Bronzino, our legal team provide high quality legal service to our clients throughout Ocean and Monmouth County towns such as Neptune, Brielle, Manasquan, Jackson, Brick, Point Pleasant, Wall, and all of Central New Jersey. To learn more about how we help local families, feel free to read our client testimonials or many five (5) star ratings on avvo.com. While we can speak about our credentials until we are blue in the face, we are much happier letting our satisfied clients do so on our behalf.
Please contact us online or call our Sea Girt or Brick, NJ offices today at (732) 812-3102 for a free and confidential consultation with a member of our qualified and experienced legal team to discuss your legal concerns when it comes to probate and estate administration.