Legal Question in Wills and Trusts in New Jersey

Re: probate court

Don't die. Seriously, though, you can't. Technically, if you want to avoid probate, put all your assets in a joint name with someone or set up a living trust. However, probate in New Jersey is fairly easy, inexpensive, and painless. If you have any more questions or need help setting anything up,please call for an appointment.

Re: probate court

In New Jersey, probate is not a "big deal" and, unlike in some states, generally need not be "avoided". Probate in NJ is not complicated, expensive or time consuming.

That being said, if for some reason you still wanted to avoid probate, the best way would be to use a living trust. Assets transfered to the trust during your lifetime would be outside your probate estate and would be controled by your trustee not your executor.

I can prepare such a trust for you if you are interested.

Re: probate court

You cannot avoid probating a will. If you need any help or advice with probating a will of someone that has passed, please call me at 732-286-2170 and I can guide you through the process.

Re: probate court

The reason for having a will is to make sure that your estate goes to those you choose, rather than following the state's Intestate Succession Law (which directs who inherits when there is now will). It is also important for naming guardians for minor children and trustees for any money or assets left to minor children.

Probate consists of filing the Will, after the person has died, with the appropriate office or court, and results in the issuance of a document that authorizes the Executor named in the will to administer the estate. This means finding out all of the debts of the deceased person, all of the assets, paying the debts and taxes first, and then distributing the rest of the assets as directed in the will.

In some cases, it is appropriate to create a Trust in which all your assets are placed during your lifetime, and which includes instructions for what happens to those assets on your death. You would still need a will to deal with the things that are inevitably not included in the trust, and also to provide for the care of children.

People have been led to believe that probate is a difficult and/or expensive process. In some states that may be true. However, that is not the case in NJ, and, in fact, the Surrogates (the officers who receive wills for filing and are involved in estate administration) in NJ are often very helpful to individuals who need to probate wills.

My NJ Office: 885 Haddon Avenue, Collingswood NJ 08108-1941; 856- 858-7775.

Re: probate court

The only way to avoid probate is to place all of your assets in a trust, or have appropriate assets or accounts registered with multiple names or beneficiary designations. However, some assets are not conducive to a trust, although they can have beneficiary designations. For example, you can designate a beneficiary to a bank or brokerage account as either being a joint owner with right of survivorship or POD (payable on death). The account will pass to the named person by operation of law by account designation, and no Will is needed. Insurance policies and retirement accounts allow you to designate a beneficiary, so again a Will is not needed. However, if there are potential estate or inheritance taxes, an irrevocable trust for insurance may be better, as using a trust might save the taxes. Some assets are not appropriate for a trust, like retirement benefits, as the transfer of ownership will accellerate the deferred income taxes. Likewise, a car is not good for a trust registration, but multiple owners would cover this. A trust is good if there are possible taxes that could be avoided, or there is a need for possible asset protection or some unusual circumstance (like a special needs person who just needs income, but not assets). Since this is my specialty, I can assist you if you desire.