Legal Question in Wills and Trusts in New Jersey
formal or informal closing of estate?
i am halfway in closing my late mothers estate,intestate,i was bonded and became ex., i am the only child,sole heir,no inherit tax, just L9-L7,does n.j. require a formal petition to be filed at closing? and if not is it necessary to draw up such a document?
Asked on 4/22/03, 10:54 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: formal or informal closing of estate?
All you need to do is file a Release and Refunding Bond with the Surrogate's office to close this proceeding. If real estate is involved, you need to file the L-9 to get a formal waiver from Inheritance Tax, to be recorded to show no tax liability and ease of sale in the future.
Answered on 4/26/03, 1:07 am
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