Legal Question in Wills and Trusts in New Jersey

My brother left me as sole beneficiary in his will. I am trying to obtain his assets from Charles Schwab and they say I need a NJ Tax Waiver. Since I am a class "C" benefiary, which form would I use? There is less than $50,000 in his account.


Asked on 11/18/09, 8:47 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Class "C" beneficiaries are subject to NJ Inheritance Tax if their inheritance exceeds $25,000, as yours does. Thus, you need to file a return and pay the tax, to get the Waiver they want. If you need assistance, contact me directly.

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Answered on 11/23/09, 12:11 pm


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