Legal Question in Wills and Trusts in New Jersey

Release Bond & Release (RBR) Follow-Up

Yes, I paid the full inheritance tax for my share-the RBR stated the correct amount to be distributed but the lawyer held back $5K! It seems the Inheritance Tax Form is now being audited by the Division of Taxation! The lawyer is holding back money in case the estate has to pay more taxes!


Asked on 5/04/09, 11:17 am

1 Answer from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Re: Release Bond & Release (RBR) Follow-Up

I would need more information including a copy of the Will in order to help you with this.

If there were estate valuation issues during the tax audit, and the tax liability may increase, then holding a reserve may be prudent.

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Answered on 5/04/09, 11:43 am


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