$1950 – Flat Fee for a Probate Attorney for Palisades Park, NJ to help settle your loved one’s estate Call 844-533-3367
We charge a set fee of $1950 to assist you to probate an uncontested Will or intestacy estate that is uncontested. We realize that this can be a trying time, and you need help. The process is fairly straight forward, and you will help through every step on the way. If no one is challenging the distribution of assets, then the method of closing out the estate may seem long, but the legal costs could be managed.
As your Probate Lawyer for Palisades Park, NJ we’ll manage the below list of things for you:
- Bring Will to Surrogate Court to submit an application for Letters Testamentary
- File notice of Probate with Surrogate Court
- Apply for a Federal Tax ID Number for the estate
- So that you’ll have the ability to pay bills from estate account prepare the Estate Account at a bank
- Send Notice of Probate to Beneficiaries – You will have to supply addresses and names
- We’ll send notice to the Attorney General, if contributions are being made to charity
- We can work with you to prep Informal Accounting for the surrogate court .
- Prepare Release and Refunding Bond if needed. Many wills say that executors can function with no bond. (The expense of the bond is different than the attorney fee that we charge.)
Get Child Support Ruling clearance before any distributions are made.
- Prepare Deed Transfer for 1 House (Added Property Deeds we bill $575 each)
- Prepare Title Transfer for 1 vehicle (Added titles at $150 each)
Unless you hire us to do the below this will be part of your responsibilities for the estate as the Personal Administrator:
- Collect and manage assets of the estate
- Get appraisal vales of the estate’s real and personal property
- Sell the property of the estate
- Pay the estate’s Bills
- File State and Federal Income Tax Returns for the your loved one. Which is different than preparing the inheritance tax return and obtaining tax waivers. (We can suggest a CPA for you.)
- Distribute the assets.
What is Probate in Palisades Park, NJ?
When an individual passes away in his or Palisades Park New Jersey property generally must undergo a court-supervised process called probate. For example if someone one has title to a house, the home will have to be probated in the County Surrogate’s office where the home lives.
Palisades Park Probate eases the transfer of the decedent’s assets to organizations or individuals, as supplied through the deceased person’s will or according to the New Jersey’s intestacy laws. Intestacy laws order where property goes in the lack of a will, with priority to close relatives. Formal probate process or a simplified is required unless all the assets left behind are considered non-probate, meaning they transfer automatically at death, such as life insurance proceeds, POD trusts and accounts.
What things are required in Palisades Park, NJ for Probate?
Below is a list of items needed for probate.
1. The original death certificate with a raised seal.
2. An approximation of the gross value of the estate insuring all real estate and non-real estate (personal) assets. At this time an item-by-item valuation isn’t needed to be submitted.
3. The complete names and addresses of the deceased’s next of kin.
4. Money to pay the fees that are surrogates}.
5. If someone dies with no will, a proper written Renunciation of the right to serve as the estate’s Administrator signed in the presence of a Notary Public by every person, if any, who has prior or equal right to the applicant to serve as the estate’s Administrator. Original signatures are required, so ensure that if someone is out of state when they sign the renunciation they send the original signed file.
Added information on becoming a Personal Representative of the Estate in Palisades Park, NJ
The estate of someone who dies with no Will is known as an “intestate” estate. We’ll allow you to become the Personal Representative of the estate. This position has several names Executor, Personal Representative, Administrator and the proper Administrator C.T.A. which is the abbreviation of Administrator Cum Testaments Annex, which means ‘Administrator to the will annexed’. Our fees would be because of the quantity of further responsivity involved, in the event you want us to become the executor.
Time line of Duties of Administrator/Personal Representative /Executor in Palisades Park, NJ to the estate
In Palisades Park New Jersey, a personal representative handles the probate procedure. If this individual is named in the will, he’s called an “executor.” Otherwise, he’s made by the probate court and is known as an “administrator.” The probate process is started by filing an application with the Surrogate’s Court at any given time; yet, probate Won’t officially open until at least 10 days subsequent to the death of your loved one. As part of starting probate, the executor must submit the will and have it “proved.” This merely means that a clerk will review the document to be certain that it absolutely was executed according to all the formalities of New Jersey State law. Once this is complete, the court will provide the personal representative with greater authority through what are called “Letters Testamentary.” We’ll help you to get this letter. The letters testamentary provide the ability to complete several tasks to the personal representative.
Subsequent to the Letters Testamentary have been dilemmas, the obligations of the Personal Representative start.
The personal representative must notify all of the beneficiaries listed in the will within 60 days after the will is admitted.
The personal representative must then gather and safeguard all estate property and value it, getting assessments where essential. This can entail taking control of a company, managing a securities portfolio, as the land lord acting for real estate.
Usually a Federal EIN number must be got for the estate.
A bank account for the estate will need to be started.
You will not have the ability to file the NJ inheritance tax return until it is clear regarding the sums of other expenses and the medical bills your loved one might have owed. Medical expenses could be deducted in the inheritance tax. If you really need help preparing the tax return, we can advocate a CPA that may help.
All outstanding debts and taxes must be paid.
Once all debts are paid, which might require sale of estate property, the remaining assets may subsequently be transferred to the beneficiaries.
Properties for example residences will have to get deeds created, and other things like vehicles will need to possess new titles ordered.
If you think you need help, it is important to speak with an attorney who can help you understand your options during this time. Protect your interests and have your questions answered. Contact us today, and we will go over all of your options. Call us at (844) 533-3367 or email us at [email protected]