Legal Question in Wills and Trusts in New Jersey

Re: Length of time required by law to settle an estate

Depending upon the size of the estate (are any estate or inheritance taxes due - there are since the heirs are brothers and nieces and nephews), and the type of assets involved - the return is due 8 months after the death. And if there are assets not easily valued, there could be questions on the valuation, which could take longer to resolve. So it could be at least 8 months to a year or longer. If the estate is simple assets (bank accounts, securities, etc.), it should be relatively simple, and, perhaps, a preliminary distribution made in 6-9 months.

Re: Length of time required by law to settle an estate

The length of time required to settle an estate depends upon many factors. The NJ Inheritance Tax return is required to be filed within 8 months from the decedent's date of death. Generally, in order to distribute the decedent's assets to beneficiaries who are not considered exempt from NJ inheritance tax (which would include a brother and nieces/nephews), you need a waiver from the NJ Inheritance Tax Branch. This could take time depending upon the circumstances involved.

Pamela C. Polifron, Esq.

Selesner & Polifron, PA

225 Millburn Ave. Suite 208

Millburn, NJ 07041

(973) 467-8000

[email protected]

Re: Length of time required by law to settle an estate

There is no statuary time limit to finalize an estate. An Inheriterance Tax Return must be filed within 8 months of date of death in NJ; if accepted and taxes are satisfied, "waivers" will be issued to the legal representative and then the distribution of the estate assets can be finalized. Why don't you find out if the tax return was filed and the waivers issued, if so, then you can "push" both the lawyer and administrator to make distribution of the assets.