Legal Question in Wills and Trusts in New Jersey

Re: No will results in life estate; 30 years later

Typical problem of no Will. Statute gives a life estate, but does not allocate expenses between life estate and remainder interest. I treat these situations like a lease, certain expenses paid by life estate holder (tenant)and certain by the remaindermen (landlord). This follows the concept that life estate holder has certain responsibilities (like minor repairs, maintenance and a rent equivalent) as do remaindermen (like taxes). If you want to be sure the widow gets something, the remaindermen can agree among themselves on an amount and consider it a reimbursement after the sale. To assist you further, I would need more information, like what expenses were paid, what repairs and improvements may have been made over the years, etc. Write me directly or call me at 973-377-3313 and we can discuss this.