Legal Question in Wills and Trusts in New Jersey
Estate, Inheritance, transfer or other death taxes
In drafting a simple will, is it better to direct that estate, inheritance or other death taxes be paid out of the general estate or the residuary estate?
Asked on 1/07/09, 4:58 pm
1 Answer from Attorneys
Jonathan Chester
The Law Office of Jonathan S. Chester, Esq., LLC
Re: Estate, Inheritance, transfer or other death taxes
Your question is a little confusing.
I think the "general estate" and "residuary estate" are different words for the same thing [i.e. what's left over after payment of all legacies, debts, expenses, etc.]
If your question is whether it is better to have the taxes paid from the residuary or on a pro-rata basis, the answer depends on what is desired. It is probably more common to have the estate taxes paid from the residuary, but again the answer will depend on what the goal is.
Answered on 1/07/09, 5:08 pm
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