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A recent study co-authored by Wharton’s Thomas Winberry reveals that financially constrained firms face a ...

The post How Financial Frictions Hinder Innovations first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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5 Budgeting Myths That Stop People from Saving

Budgeting is crucial for managing your money well. However, many people avoid it because they ...

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Are There Any Probate Shortcuts In New Jersey?

March 21, 2022

When a loved one passes away who lived in New Jersey there are many questions that must be answered regarding the administration of their estate. Certain small estates may qualify for a probate shortcut. This makes it much faster and easier for surviving family members to transfer property left behind by the person who passed away. You may be able to transfer significant amounts of property using this probate shortcut if the simplified probate procedure applies.

An executor must submit a written request to the local probate court asking for the simplified procedure to be used. The court can then approve that executor to take the action of distributing assets without going through the regular process of probate. If there is no valid will and the value of all property doesn’t exceed $20,000, the domestic partner or surviving spouse is entitled to all of it without probate, but they must use all of it except for $5,000 to pay any creditors who have valid claims.

In order for the request to be approved, it must include the deceased person’s residence location and the nature and value of any real and personal property owned by that person. For more assistance with understanding the simplified probate procedures in New Jersey, schedule a consultation with an attorney today.

The more you know about your own estate size, the easier it is to determine which kinds of planning options you must consider moving forward. You can make things easier for your loved ones by setting up an estate plan well in advance. Contact our NJ estate planning office today to discuss.


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Schedule your free Exploratory phone call

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can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
How Financial Frictions Hinder Innovations

A recent study co-authored by Wharton’s Thomas Winberry reveals that financially constrained firms face a ...

The post How Financial Frictions Hinder Innovations first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
5 Budgeting Myths That Stop People from Saving

Budgeting is crucial for managing your money well. However, many people avoid it because they ...

The post 5 Budgeting Myths That Stop People from Saving first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more