“X” Marks the Spot
Under New Jersey law, a person who is unable to sign their name to a legal document can still sign by either placing an "X" or some other mark next to their printed name, or by directing a third part to sign on their behalf.
Our Blog is our way of helping you make sense of what may otherwise be a perplexing or confusing situation in which you may find yourself. But don't despair. Although you may think you are the only one experiencing some type of difficulty or hardship, if you look around, you will see that others are as well. It is said that "what is most personal is most general” — and that is true.
It's in the spirit of making the personal seem more general that we write these blogs so that you gain a better awareness of the issues you may be confronting. And in the process of gaining awareness, you begin to develop a realistic approach to whatever it is you are seeking to accomplish. Of course, these Blog posts are no substitute for one-on-one legal advise; however, you may find them useful, if for no other reason than to put your concerns into the proper context. From there, additional research and consultation with legal professionals can follow.
We hope you find these blogs helpful as you navigate through life's many challenges and opportunities!
P.S. if there are any topics you would like us to address, please send us a note to that effect.
How much does an executor under a will receive in compensation?
Executors in New Jersey are entitled to statutory commissions that range from 5% down to 2% of the gross value of the estate, depending on the size of the estate. Commissions at a rate of 6% may also be taken on any income the estate may general prior to final distributions being made.
Probate v. Non-Probate Assets – What’s the Difference?
Probate assets are assets that pass through your will while non-probate assets pass outside your will. You should know how each of your assets will be distributed when you die so that your testamentary intent will be carried out.
Can New Jersey tax you when you die? Unfortunately, yes ☹
Unfortunately, even death does not prevent you from being taxed in New Jersey. While New Jersey no longer has an estate tax, it still has an Inheritance Tax that applies to certain beneficiaries, including siblings, nieces, nephews and other more remote family members and friends. It is important that you know how the Inheritance Tax works so that your will is drawn up to handle this tax the way you would like.
What is the difference between a probate attorney and an estate planning attorney?
A probate attorney represents clients in settling an estate after a person dies, while an estate planning attorney represents people in preparing their estate plan. They are separate disciplines, though in certain cases, it may be advantageous to retain an attorney who has expertise in both areas since the insight gleaned from one discipline may be used to the client’s advantage in the other. The law can be very nuanced for sure!
Co-Executors – IMPERFECT Together
When choosing who should be the executor of your estate, it is best to avoid naming two or more people to serve as co-executors. Instead, it is better to appoint the one person who you believe is most able and willing to take care of your affairs in a reasonable, objective and responsible manner.