Legal Question in Wills and Trusts in New Jersey

Re: Real Estate Planning Questions - Morris County NJ

Your mother needs to see an estate planning attorney as soon as possible.

A 40 year old Will [assuming she can even find it] will no doubt cause the family a lot of problems because:

[1] it certainly is not 'self prooving' so the witnesses must be located; [2] if the witnesses have died, the will can't be admitted to probate unless the signatures can all be authenticated...this requires a court proceeding [3] the named executor has probably died or may be too old to serve..so you may need a proceeding to appoint someone else [4] the will may simply not provide what she wants any longer [5] there may be estate planning techniques she can use to better plan her estate and save estate taxes.

Re: Real Estate Planning Questions - Morris County NJ

Your mother needs a new Will.

You did not say what the dollar amounts are, but I can absolutely promise you that a Will dividing up a fairly small estate (under $500,000) in equal shares between 3 children is just not hard to draw up properly.

I would be happy to assist.

Re: Real Estate Planning Questions - Morris County NJ

I concur with Jon. Many things have probably changed as to family situations, and have certainly changed under NJ law. In most instances a family member or two is/are named executor(s), as this saves fees if an outside executor is used. Is your mother's estate over $675.000 in total value? If so, she may be subject to NJ Inheritance Tax, which could be minimized or eliminated by proper planning. I suggest a new Will, conforming to current NJ law plus, possibly a living trust if her estate exceeds the $675,000 threshhold. You do not explain why your name is on the account with her. Does she want you to get this money, exclusive of your siblings, or was this done as an accomodation so you could have access to it if your mother was unable to access it herself? This answer, plus proper planning, could avoid possible litigation involving her estate, among the children. If you need assistance, contact me directly, as I specialize in these matters.