$1950 – Flat Fee for a Probate Lawyer for Prospect Park, New Jersey to help settle your loved one’s estate Call 844 533 3367
We charge a set fee of $1950 to help you probate an uncontested Will or uncontested intestacy estate. We realize that this might be a trying time, and you also need help. The process is pretty straight forward, and we will walk you through every step along the way. If no one is contesting the distribution of assets, then the procedure for closing out the estate might seem long, but the legal costs could be managed.
As your Probate Attorney for Prospect Park, NJ we’ll handle the below list of things for you:
- Bring Will to Surrogate Court to submit an application for Letters Testamentary
- File notice with Surrogate Court of Probate
- Submit an application for a Federal Tax ID Number for the estate
- So that you will have the capacity to pay invoices from estate account prepare the Estate Account at a bank
- Send Notice of Probate to Beneficiaries – You have to supply names and addresses
- If contributions are being made to charity, we will send notice to the Attorney General
- We can work with you to prep Informal Accounting for the surrogate court .
- Prepare Release and Refunding Bond if needed. Many wills state that executors can serve without a bond. (The cost of the bond is separate than the attorney fee that we charge.)
Obtain Child Support Judgment clearance before any distributions are made.
- Prepare Deed Transfer for 1 Home (Added Property Deeds we bill $575 each)
- Prepare Title Transfer for 1 vehicle (Additional titles at $150 each)
If you don’t hire us to do the below this will be part of your obligations 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
- Settle the estate’s Debts
- File Federal and State Income Tax Returns for the your loved one. Which is different than preparing the inheritance tax return and obtaining tax waivers. (We can recommend a CPA for you.)
- Distribute the assets.
What exactly is Probate in Prospect Park, NJ?
When an individual passes away in her or his Prospect Park New Jersey property generally must undergo a court-supervised procedure called probate. As an example if someone one owns a home, the home will need to be probated in the County Surrogate’s office where the dwelling lives.
Prospect Park Probate facilitates the transfer of the decedent’s assets to organizations or individuals, as supplied either through the deceased person’s will or according to the New Jersey’s intestacy laws. Where property goes with precedence to close relatives, in the lack of a will intestacy laws dictate. Formal probate process or a simplified is required unless all the assets are considered non-probate, meaning they transfer automatically at departure, such as life insurance proceeds, POD accounts and trusts.
What items are required NJ, in Prospect Park for Probate?
Below is a list of items required for probate.
1. The original death certificate with a raised seal.
2. An estimate of the gross value of the estate covering all real estate and non-real estate (private) 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 a person dies with no will, a formal 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 earlier or equal right to the applicant to serve as the estate’s Administrator. Original signatures are required, thus ensure that if a person is out of state when they sign the renunciation they send the original signed document.
Added information on becoming a Personal Representative of the Estate NJ, in Prospect Park
The estate of someone who dies without a Will is called 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 also the formal Administrator C.T.A. which is the abbreviation of Administrator Cum Testaments Annex, which means ‘Administrator to the will annexed’. Our fees would be higher due to the quantity of additional responsivity involved, should you want us to become the executor.
Time line of Obligations of Administrator/Personal Representative /Executor in Prospect Park, NJ to the estate
In Prospect Park New Jersey, the probate process is handled by a personal representative. If this person is named in the will, he is referred to as an “executor.” Otherwise, he is named by the probate court and is known as an “administrator.” The probate procedure is commenced by filing an application with all the Surrogate’s Court at any time; yet, probate Won’t officially open until at least 10 days following the death of your loved one. As part of starting probate, the executor must submit the will and have it “demonstrated.” This just means that the file to be certain that it was executed according to all of the formalities of New Jersey State law will be reviewed by a clerk. Once this is complete, the court will provide the personal representative with greater ability through what are called “Letters Testamentary.” We will help you to get this letter. The letters provide the personal representative with all the authority to complete several tasks.
The responsibilities of the Personal Representative start after the Letters Testamentary have been dilemmas.
The personal representative must notify the beneficiaries listed in the will within days after the will is admitted all.
The personal representative must then collect and safeguard all estate property and worth it, getting appraisals where essential. This may entail taking control of a business, managing a securities portfolio, as the land lord acting for real estate.
Generally a Federal EIN number should be obtained for the estate.
A bank account for the estate will have to be opened.
You won’t be able to file the NJ inheritance tax return until it’s clear regarding the amounts of other expenses and the medical bills your loved one may have owed. Medical expenses may be deducted in the inheritance tax. We can advocate a CPA that can help in the event you’ll need help preparing the tax return.
Taxes and all outstanding debts need to be paid.
Once all debts are paid, which might require sale of estate property, the remaining assets can then be transferred to the beneficiaries.
Properties such as residences will need to get deeds created, and other things like vehicles will need to get new titles purchased.
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]