Legal Question in Wills and Trusts in New Jersey
Renouncing estate
If my sister and I complete a ''Renunciation for Administration'' in Gloucester County, New Jersey for our father's estate and the chosen administrator doesn't do what needs to be done (pay bills, transfer deeds, etc.), could we held liable? We decided to renounce and let his long-term partner have any assets that were not left directly to us because there was no will.
1 Answer from Attorneys
Re: Renouncing estate
This problem is coming up more frequently. The reason it is a "problem" is that if your father did not have a Will, your renunciations would act as if you had predeceased your father. That means your heirs, if any, would take your share. The long-term partner would get nothing.
Please, immediately go to a tax and estate lawyer to review the situation.
I hope this helps!
Ron Cappuccio
http://www.SaveYourEstate.com
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