Administrator

Executor Commissions: Calculating in New Jersey

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Calculating NJ executor commissions

From time to time, people ask me about trustee and executor commissions in New Jersey.  Because it is a bit complex, I have broken it down into two posts and I will focus on administrator and executor commissions today. To start, a Will can specifically provide for an executor’s commission.  In that absence of expressly authorizing a […]

Administrator

New Jersey Estate Tax

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New Jersey Estate Tax

New Jersey has many different types of taxes, including two different taxes on death: the NJ Estate Tax and the NJ inheritance tax. The New Jersey estate tax is a tax on transfers at death and certain transfers in contemplation of death. Transfers to charities, a surviving spouse or a surviving Civil Union partner are exempt […]

Administrator

Top 10 Reasons to Have a Will

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To determine who gets your money (Naming beneficiaries) To determine guardianship (Saying who will take care of you children) To determine who controls the money (Naming of executors and trustees) To minimize estate or inheritance taxes To avoid the cost of an insurance bond (If you do not allow for an executor or administrator to […]