• 30Jan

    Probate is the process of carrying out the last wishes of a person who has died.  The probate process under New Jersey law is supervised by the Surrogate’s Court in each New Jersey County.  The estate’s representative collects the estate’s assets, pays the estate’s debts and tax obligations, and distributes the remainder of the estate’s property to the heirs and beneficiaries.

    The first step in the probate process is to determine whether the will is valid.  Some wills are presumed to be valid because they were prepared following the very strict guidelines of New Jersey law. Wills that do not satisfy these requirements must be proved in the Surrogate’s Court with the personal testimony of at least one witness to the will.

    New Jersey probate law allows an heir or a beneficiary to challenge the validity of a will.  The mere fact that a person is disappointed with a term in a will is not enough, however.  New Jersey probate attorneys know that there must be a serious question about either the way the will was prepared or the mental state of the deceased person at the time the will was signed.

    In addition, an heir or beneficiary may go to court during probate to have the executor―or any other personal representative―removed and replaced.  This type of action is based on the personal representative’s wrongful acts or errors that cost the estate money.

    The cost of probate litigation

    Probate litigation in New Jersey can be very expensive because it is conducted in formal proceedings in Superior Court, just like any other civil case.  But there are other, more serious consequences as well.  If a will is declared invalid, the estate is distributed in accordance with an earlier will, which may change the way property is given to you.  If there was no other will, the estate’s property will be distributed to the next of kin according to a rigid formula in the probate law of New Jersey.  This distribution may leave you out altogether.  In addition, if a personal representative is removed, you may not be happy with the person who is named as the replacement.

    Call on experienced New Jersey probate attorneys

    Clearly, a lot is at stake in New Jersey probate litigation.  The New Jersey probate attorneys at Parsons & Nardelli have decades of experience in probate practice and litigation.  If a will is under challenge, contact us for a free consultation.  Call (732) 842-6400 or toll free (888) 309-5589 or complete our contact form.  Located in Red Bank, we work with clients throughout Monmouth, Ocean, and Middlesex Counties.

  • 24Feb

    Most people of a certain net worth understand that charitable donations are an excellent way to reduce your overall tax liability.  What most people do not understand, regardless of the state of their personal balance sheet, is how to know that the donations you make are, in fact, tax deductible.  It can be frustrating and costly to donate what you believe to be tax deductible money to an organization, only to find out you receive no financial benefits whatsoever from that donation.

    If you reside in the Sacramento area and are considering charitable donations or other forms of gift-giving as a way to offset tax liability,  you should speak with a attorney who is experienced with Sacramento charitable donation tax deduction to explore your best options.

    When you need a skilled probate attorney, call Generations
    Not all attorneys are equally skilled.   Many lawyers who handle gift tax and probate do it only as a sideline and are not aware of the latest codes and the newest strategies for maximizing return and minimizing the lengthy probate process.   If you require an experienced gift tax attorney in Sacramento, call Generations immediately at 916-679-5550 or contact us today.  We can help.

    5301 Madison Avenue #402, Sacramento, CA 95841

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  • 29Nov

    When calculating probate fees, remember that the fees paid to the attorney and personal representative are determined by law based on the gross value of the estate.

    Percentages by worth of the estate:

    • 4% for the first $15,000
    • 3% for the next $85,000
    • 2% for the next $900,000
    • 1% for the next $9,000,000
    • ½% for the next $15,000,000
    • “reasonable” compensation for over $25,000,000

    The total worth of the estate is determined by the value of all the assets belonging to the estate. This does not include mortgages, debts, or other burdens on the assets.

    Types of Cost I might Incur?

    Probate costs typically are categorized as:

    • Court Costs: court fees, publication fees, surety bond fees, probate referee fees, certifications and recording fees.
    • Personal Representative’s Fee: the fee paid to the executor or administrator of the estate for his or her services.
    • Attorney’s fee.

    Regardless of reputation, experienced, and skill, statutory fees are the same for all lawyers. That is why it is advisable to seek the most reliable and accomplished Oakland probate law firms when in need of legal assistance for probate. Find an attorney that is a Certified Specialist in Probate, who has an outstanding history of success, and excellent recommendations through their earned trust with clients and associates.

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  • 24Nov

    I was thinking about the future and what inevitably was to come the other day when I realized that I do not know whether my grandparents or my parents even have an updated will and trust.  This is troubling considering how large our family is. With that many opinions and emotions involved in a interpretation of an outdated will god only knows the outcome and whether or not our families property assets will be salvaged and pass on as needed.

    Read the rest of the article here

    I saw that above example on Gregorek and Associates, PLLC website and was reading through a lot of the information they offer free on there. It’s quite eye opening though many people try to avoid the subject due to emotions however I think we must be grown ups here as well as realists and do whats proactive.

    If you want to learn more about

    Gregorek and Associates, PLLC

    3450 Carillon Point, Suite 3450
    Kirkland, WA 98033

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