Legal Question in Wills and Trusts in New Jersey

Re: Request for Probate information

Generally, it's a good practice for the executor and/or the attorney for the estate to keep the beneficiaries reasonably informed on the progress of the estate administration and sometimes, that will include providing beneficiaries with an inventory of estate assets.

Unlike some states, New Jersey does not require the filing of an inventory in the Surrogates Court, so there would not be any "public record" of the value of the estate or the specific assets owned. Generally, the executor has a duty to account to the beneficiaries (and the beneficiaries have the right to compel the executor to account in Court if he does not) but that normally is only after a year has passed.

I could not tell from your note, but it's also possible you recieved a specific bequest of the stock. In that case, the executor may have a duty to inform you of these assets and would be advised to transfer them to you sooner rather than later. I would need to see the Will to determine the nature of your interest.

Re: Request for Probate information

1. Delays are probably due to post-mortem estate planning to reduce the inheritance/estate tax.

2. Do you know if, according to the will, you are inheriting certain specific stock shares, or a percentage of estate in general?

Re: Request for Probate information

As a person entitled to a portion of the estate, you are also entitled to a full and complete accounting, from the estate's inception to the proposed date of distribution. This would include a complete listing of the assets included in the estate and what may have happened to them. The Surrogate would only be able to provide you with a copy of the Will, which may or may not contain a list of the specific stocks, unless and until an accounting is provided. This is not always done, as the costs of going through a formal judicial accounting far exceed the costs of doing it informally (just providing the heirs a simple accounting). You can request this information from the Executor and you are entitled to it. Since the estate involves some death taxes (State or possibly federal), the attorney should give you periodic updates on what is happening. Any more questions, contact me directly by e-mail or phone.