Legal Question in Tax Law in New Jersey
inheritance tax
can u tell me, how long ihheritance tax takes once papers sent in to state? my father passed away in june, in july we were able to take half his checking account, the rest had to be taxed, lawyer hired to do this and supposedly, now in Feb. still no word, could that be right.?
Asked on 2/10/06, 11:50 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: inheritance tax
I am a little confused. As children (Class "A" beneficiaries) there is no inheritance tax unless the estate is over $675,000. Most assets can be released in full just by issuing a self-proving affidavit and waiver. If the estate is large, it can take 4-6 months to get waivers from the Inheritance Tax Department.
Answered on 2/11/06, 10:19 pm
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