In my blog post last week, I explained the elements of a validly executed will. When someone dies with a will, it must first be admitted to probate before the executor named in the document can begin to do what is required to administer the decedent’s assets.
In New Jersey, if the required elements are followed…
October 7, 2024
Legal-Ease: Are There Ways to Avoid Probate After Death?
Dear Jonathan: I just completed the probate of my late brother’s will. I was the personal representative he appointed to act on behalf of his estate. This was not a pleasant experience and in fact, was quite the opposite and made me realize…
What Qualifies as a Last Will and Testament? Part 1
In my first conversation with family members after a loved one dies, not infrequently someone will tell me that the decedent (person who died) verbally expressed his or her wishes about how they wanted their estate to be distributed. In some cases there is no will…
Let’s begin with a definition: Probate, in general, is the process of validating a will (if there is one), identifying the decedent’s assets, and authorizing a personal representative to distribute these assets according to Massachusetts law. The process takes about a year, although in situations involving complex estates, family infighting, or disputes over assets, it…
In last week’s post I talked about Social Security. I specifically focused on how, for many Americans, Social Security benefits are the sole source of income but most of these benefits are subject at least in part to income tax. That is the case for a single person who has more than $24,000 of income and for…
Social Security benefits are the primary source – and in some cases the sole source – of income for a majority of Americans. Many Americans have little to no retirement savings. Company pension plans have become rare and even when available, most people do not stay with a single company long enough to qualify for much. Then there…
In my blog post last week, I explained that when the assets of a decedent are insufficient to cover all estate debts, the debt is classified by priorities. Debts are entitled to be paid in a certain order of priority. Eventually, however, in the case of an insolvent estate we will get to a category for which…
September 9, 2024
Legal-Ease: What Happens When You Are Sole Beneficiary of a Trust?
Dear Jonathan: My mother, who recently passed away, prepared a trust naming me as her sole beneficiary. She intentionally disinherited my brother due to a falling out they had years ago. Although he knows that he has been disinherited, I am…
I was at the doctors office for a routine visit a week or so ago. I got his first appointment in the morning so I could get in, get it done and go!
Well, didn’t turn out as planned. He was training a fellow to become a geriatric physician. So my appointment lasted just about…
In this week’s blog post, I continue a discussion of insolvent estates. An insolvent estate is one in which there are not enough assets to cover all of an estate’s debts. The personal representative can’t, however, simply pay the bills as they come in. That’s because New Jersey probate law determines in what order they are to…
