Social Security After Death

Social Security  

One of the first questions we are asked is “do I have to do anything about Social Security”? Here are some important things to know if a decedent was receiving SSA benefits at the time of passing: Reporting Normally the funeral director will contact Social Security to report a person’s death if you give them […]

Executor Commissions: Calculating in New Jersey

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 […]

Dangers of Specific Bequests and General Bequests

Dangers of Specific Bequests and General Bequests

WHAT ARE SPECIFIC GIFTS AND GENERAL GIFTS? A specific bequest is a gift of a specific piece of property to a specific person. Three examples of this are: I give my real estate, located at 1 Main Street, Anytown, State, to my son, Jake Smith. I give my 500 shares of stock of XYZ Corporation […]