Legal Question in Wills and Trusts in New Jersey

Re: Estate and children

If a person dies without a will, they are said to die "intestate"...Every state has an Intestacy statute that provides for the division of the estate's assets where there is no will.

To answer your question for a New Jersey decedent, I would need to know the approximate value of the estate, the date of death, and the people who survived [e.g. the decedent's parents, spouse, children, siblings, etc.].

Re: Estate and children

If the decedent has no living spouse, then the assets would be divided equally among the children under the laws of intestacy. There are many twists and turns and you will need to see a tax and estate lawyer.

It is a shame the decedent did not make an investment in a Will and Estate plan. It would have saved a lot of time and money.

I hope this helps!

Ron Cappuccio

http://www.SaveYourEstate.com

Re: Estate and children

I agree with the other authors. The intestacy laws in NJ (available online at any County Surrogate's web site) allow both a spouse and children to participate in the estate, depending upon how large (net value after all bills and debts are paid) to share in the estate. The administration procedure is more complicated and more expensive than merely probating a Will, as usually the Administrator is required to be bonded. Administration only covers assets the decedent owned individually, so any assets registered jointly with someone or assets having a designated beneficiary (like retirement plans and life insurance) are not subjected to administration. You have provided no information on the value of the decedent's assets, how they might be registered, or who survivved him (spouse, children, parents, etc.). This information is needed for a complete response. If you have questions, as I handle this regulalrly, contact me directly.