Legal Question in Wills and Trusts in New Jersey

You should ask your lawyer what steps to take. If you do not have one, call me and I will assist.

I have handled many similiar estates. there is a procedure to follow for partial distribution. Call my office and set up an appointment.

You have not described the beneficiaries. If they are all Class "A" (decedent's spouse, children and grandchildren and/or parents) there should not be a tax problem as the estate is under $675,000, the NJ threshhold for inheritance taxes on Class "A" beneficiaries. Thus, making a distribution of about 50% would be reasonable, in an all cash situation. However, if the estate is more complicated, such as the beneficiaries are all not Class "A", prior gifts may be involved or other issues where taxes might be due, I would cut the distribution to about 25%. Be sure you get and file Release and Refunding Bonds for each beneficiary before the checks are actually cut.