Tuesday, August 22, 2023

Sayreville Public Library Wills & Power of Attorney Seminar

  Sayreville Public Library Wills & Power of Attorney Seminar

October 30, 2023 at 6:30pm

 Open to the public. You do not need to be a resident.

SPEAKERS:

Kenneth Vercammen, Esq. Edison, (Author- ABA’s “Wills and Estate Administration book”)

2023 Main Topics:

1.   Administering the Estate/Probate /Surrogate

2.   Dangers If You Have No Will or documents invalid

3.   Getting your Estate Planning Documents done when you can’t go into a law office

4.   What goes into a Will

5.   Power of Attorneys recommendations

6.   Living Will & Advance Directive for Medical Care

7.   Avoiding unnecessary expenses and saving your family money

WILLS & ESTATE ADMINISTRATION-PROTECT YOUR FAMILY AND MAKE PLANNING

This event is free & open to the public.

Registration at  __

 

For info, call  732.727.0212

Sayreville Library "Aziza Haque (Sayreville)"  ahaque@lmxac.org

1050 Washington Road

Parlin NJ 08859

FB __

 

Can’t attend?  We can email you materials. Send email to VercammenLaw@Njlaws.com

 

  Free Will Seminars and Speakers Bureau for Groups

SPEAKERS BUREAU

      At the request of senior citizen groups, unions, and Middlesex County companies and organizations, the " Speakers Bureau " is a service designed to educate citizens about how laws affect their lives and how the judicial system operates.  We have attorneys available to speak to businesspersons, educational, civic and social organizations on a wide range of topics during business hours.  If your organization in Central NJ would like to schedule a Will & Estates seminar, call Kenneth Vercammen’s Law Office at 732-572-0500 or email Vercammenlaw@njlaws.com

 

  10 years ago the AARP Network Attorneys of the Edison/Metuchen/Woodbridge area several years ago established a community Speakers Bureau to provide educational programs to AARP and senior clubs, Unions and Middlesex County companies. Now, Ken Vercammen, Esq. and volunteer attorneys of the Middlesex County Estate Planning Council have provided Legal Rights Seminars to hundreds of seniors, business owners and their employees, unions, clubs and non-profit groups

Details on free programs available

These quality daytime educational programs will educate and even entertain. Clubs and companies are invited to schedule a free seminar. The following Seminars are now available:

1. WILLS & ESTATE ADMINISTRATION-PROTECT YOUR FAMILY AND

MAKE PLANNING EASY

2. POWER OF ATTORNEY to permit family to pay your bills if you are temporarily disabled and permit doctors to talk with family

       All instructors are licensed attorneys who have been in practice at least 25 years. All instructors are members of the American Bar Association, New Jersey

State Bar Association, and Middlesex County Bar Association. All programs include free written materials.

You don't have to be wealthy or near death to do some thinking about a Will. Here is your opportunity to listen to an experienced attorney who will discuss how to distribute your property as you wish and avoid many rigid provisions of state law.

   Topics discussed include: Who needs a Will?; What if you die without a Will (intestacy)?; Mechanics of a Will; "Living Will"; Powers of Attorney; Selecting an executor, trustee, and guardian; Proper Will execution; Inheritance Taxes, Estate Taxes $14,000 annual gift tax exclusion,  Bequests to charity, Why you need a "Self-Proving" Will and Estate Administration/ Probate.

 

   Sample materials: Hand-outs on Wills, Living Wills/Medical Advance Directive, Power of Attorney, Probate and Administration of an Estate, Real Estate, Working with your Attorney, Consumers Guide to New Jersey Laws, and Senior Citizen Rights.

 

SPEAKERS BUREAU

  At the request of senior citizen groups, unions, and Middlesex County companies and organizations, the " Speakers Bureau " is a service designed to educate citizens about how laws affect their lives and how the judicial system operates. We have attorneys available to speak to businesspersons, educational, civic and social organizations on a wide range of topics during business hours.

  In today's complex world, few people can function successfully and safely without competent legal advice. In order to insure your estate plans are legally set up, you need to know exactly where you stand so that you can avoid possibly catastrophic mistakes impacting both you and your family.

 

    About the speaker: Kenneth A. Vercammen is a trial attorney in Edison, NJ. We is the author of the American Bar Association’s book “Wills and Estate Administration”

He is co-chair of the ABA Probate & Estate Planning Law Committee of the American Bar Association Solo Small Firm Division.  He is a speaker for the NJ State Bar Association at the annual Nuts & Bolts of Elder Law & Estate Administration program.

He was Editor of the ABA Estate Planning Probate Committee Newsletter. Mr. Vercammen has published over 150 legal articles in national and New Jersey publications on litigation, elder law, probate and trial topics. He is a highly regarded lecturer on litigation and probate law for the American Bar Association, NJ ICLE, New Jersey State Bar Association and Middlesex County Bar Association. His articles have been published in noted publications included New Jersey Law Journal, ABA Law Practice Management Magazine, and New Jersey Lawyer. He established the NJlaws website www.njlaws.com which includes many articles on Estate Planning, Probate and Wills. He is a member of the AARP and often lectures to groups on the importance of an up to date Will, Power of Attorney and Living Will.

 KENNETH  VERCAMMEN & ASSOCIATES, PC

ATTORNEY AT LAW

2053 Woodbridge Ave.

Edison, NJ 08817

(Phone) 732-572-0500

 (Fax) 732-572-0030

www.njlaws.com

Monday, August 21, 2023

Wills, Probate and Elder Law - Adult and Community Education Monday March 8, 2010 7 - 8:30 P.M

 WILLS, PROBATE AND ELDER LAW- Adult and Community Education

WHEN: Monday March 8, 2010   

7 - 8:30 P.M.

 

East Brunswick Adult & Community Education Program

East Brunswick High School, 380 Cranbury Rd

Fee: $29

 For additional information, call the East Brunswick Adult Education Office for registration information  732- 613-6989

 

Instructor: Kenneth Vercammen, Esq. of Edison

(Co-Author- NJ Elder Law & Probate)

COMPLIMENTARY MATERIAL: Brochures on Wills, “Probate and Administration of an Estate”, Power of Attorney,  Living Wills, Real Estate Sales for Seniors, and Trusts.

 

    You don’t have to be wealthy or near death to do some thinking about a will. Here is your opportunity to listen to an experienced attorney who will discuss how to distribute your property as you wish and avoid many rigid provisions of the state law. Topics covered by author of “Answer to questions about Probate” will include: Wills, revocable trusts, irrevocable trusts, power of attorney, living will, long term care insurance, reverse mortgage, plus the opportunity to ask questions.

Here is your opportunity to listen to an experienced attorney who will answer questions how to distribute your property and avoid many rigid provisions of state law. For more information on Elder law, visit the Website www.CentralJerseyElderLaw.com. You can also subscribe to the free email Elder Law newsletter by visiting the website.

For additional information, call the East Brunswick Adult Education Office for registration information  732- 613-6989

KENNETH  VERCAMMEN & ASSOCIATES, PC

ATTORNEY AT LAW

2053 Woodbridge Ave.

Edison, NJ 08817

(Phone) 732-572-0500

 (Fax)    732-572-0030

website: www.njlaws.com


Wednesday, August 16, 2023

Wills and Estate Administration - Why Everyone Should Have a Will

Wills and Estate Administration - Why Everyone Should Have a Will

 

Contact the Law Office of KENNETH A VERCAMMEN for Legal Representation Wills and Estate Administration

WILLS -- WHY EVERYONE SHOULD MAKE ONE

Transfer of an estate to an individuals heirs after his death may be an orderly or thoroughly disorganized process. It depends on a four-letter word -- WILL. Every person, eighteen (18) years of age or over should make one. This important document is a legal declaration of the way an individual wants his property distributed. Whether the estate is large or small, it is desirable to transfer what you own with a properly executed will -- whether you are a man or woman, married or single. Those without wills may leave their survivors in financial insecurity or downright frustration. It is to the advantage of both the individual and his family or his close friends that he execute a will. Contrary to general opinion, frequently the smaller amounts involved, the greater trouble when there is no will. Squabbles over a few thousand dollars an be more bitter than fights over many thousands.

Information below from the website of the COUNTY OF CUMBERLAND STATE OF NEW JERSEY SURROGATES COURT

YOUR WILL -- A BLUEPRINT FOR THE FUTURE

Making a will in an important step in your financial management program. To save your heirs time and money, plan now for the orderly transfer of your property. In this way the cost of a bond and possible disagreement among those who are to receive your property may be avoided. You decide to whom, when, and in what amounts your assets should go. You select your executor or personal representative, the one who shall be responsible for the disposition of the estate. You may avoid forced sale of your property, or costly and tedious applications to courts for the right to sell it. You have greater assurance that your plans will be carried out as you desire. One way to guarantee trouble to a family is not to make a will. Court records bulge with tragic tales of families torn apart and caused immeasurable pain and financial expense because the income producer did not do so. Without a will your estate must be distributed according to the intestate laws, the provisions of which are general and inflexible. The law will say show shall administer your estate, among whom, and how it shall be divided. By losing the privilege of naming your executor or personal representative, you may make a costly mistake. Your property may not be distributed as you wish, and thus cause hardship for those you want to safeguard most. Without a will you lose the privilege of naming a guardian for your minor children. This is vital, particularly if your spouse should not survive you. If you leave no immediate family, failure to leave a will may result in your property going to persons in whom you have no particular interest. Wills are not do-it-yourself projects. Secure the services of an attorney. Although many prepared without legal aid have been successfully executed, the risk is too great. A minor detail may invalidate your good intentions.

STEPS IN PREPARING YOUR WILL

A document that will stand up in court, if necessary, and be tailor-made to meet the needs of your family, must first be thought out carefully by you, and then skillfully prepared by a lawyer who specializes in will drafting and estate planning. He can guide you to the best decisions -- but only after obtaining all the facts that you alone can give. Thus, you can be sure that your will is properly phrased, witnessed, and has all the technicalities observed. It is penny-wise and pound- foolish not to pay a lawyers fee for this service. The charge will depend on the size and character of the estate and the work involved. Here are some points to know when making a will:

You dont need to make an itemized statement of your assets, nor do you need to state the disposition of your property item by item.

You can change it at any time you wish, as your assets, beneficiaries or desires change.

Your will is not recorded before death; no one need know of it if that is your wish.

The existence of the will does not affect your ability to sell or dispose of property. You may continue as though you had not written the document.

Start by making a list of everything you own and all you owe -- a statement that will show exactly where you stand financially. Decide to whom you will lave your real and personal property. Do it systematically. Be certain you have stated just what your wishes are by making a list of the persons involved, their relationship to you, your objectives, when their bequest is to be given, and how it is to be provided -- through a trust fund, life insurance trust, etc., and the source of the funds, whether from the general estate or proceeds of insurance policies. Take this list to the lawyer who is counseling with you. Select an executor, executrix or personal representative to administer the will. This may be the beneficiary who will inherit the bulk of your estate, a member of the family, your legal or financial advisor, a trusted friend or business associate. You should name a contingent executor or personal representative to act in case your first selection dies before you, or is unable to serve. A bank can act as executor, personal representative, trustee under a trust, or guardian of either a minor or an incompetent person. A bank is experienced and familiar with accounting and management details. It is financially responsible and a continuing institution -- an individual may die, but a bank has continued life. In selecting your executor or personal representative and trustee, the choice should be made with great care. The decision should be businesslike, not sentimental. While sentiment and friendship cause some people to name members of the family or close friends, remember that your executor or personal representative has the important responsibility of settling your estate and seeing that the wishes expressed are faithfully carried out. Here are a few of things an executor or personal representative must do, in addition to seeing that the will is offered for probate:

Qualify as executor, (also known as Personal Representative), obtain certificate of authority, and if necessary, execute a bond.

Locate and take possession of all property, discover and assert all rights and line up claims owned by the estate.

Prepare and file an inventory of all property and interest of any kind belonging to the estate, listing the appraised value.

Review all assets, liquidating those of doubtful character.

Advertise for claims and pay them in the order cited by law.

Collect monies due the estate.

Figure and pay taxes.

Pay legacies under the will.

Distribute the estate.

Make final accounting to the court.

It is important that you name a guardian if you have minor children. When you consult the attorney, ask for a rough draft of your will and study it carefully before signing the final copy.

KEEPING YOUR WILL UP TO DATE

Periodically review your will to keep it up to date. Keeping it current is just as important as making one in the first place. Changes in your life such as marriage, birth of child, death, crippling accident, change of witnesses, purchase or sale of property, a change in your financial status -- or a change in the estate law may make important revisions or a new will advisable. A will drawn in another state can be valid; however, revisions in relation to New Jersey laws may be prudent. You are free to change it any time, but do it correctly.

HOW TO CHANGE YOUR WILL

The safe way to change a will is to have a new one drawn; however, a codicil may be effective. A codicil is a separate document used to make minor changes. It must be signed with the same formality as the will itself. It is not necessary to have the same witnesses on the codicil and the original will; however, both sets of witnesses must prove the will. Do not try to change your will by drawing lines through items, erasing, writing over or adding notations. This may destroy it as a legal document. Information compliments of Cumberland Surrogate.

INTESTATE SUCCESSION

When no will exists, the statutes of New Jersey provide for the distribution of property to heirs, that is, by intestate succession. HOW WILL YOUR PROPERTY BE DIVIDED IF YOU HAVE NO WILL? THE CHART BELOW SHOWS HOW AN ESTATE IS DISTRIBUTED IN NEW JERSEY IF YOU DO NOT LEAVE A WILL. If you die without leaving a Will and are a resident of New Jersey, the State law provides the manner for distributing your property. Your net estate remaining after deduction of debts, taxes, family exemptions, etc., would be distributed under the Statutes governing Decedents Estates and, in the case of most common occurrence, the heirs who would receive such property are as follows: Property owned jointly be husband and wife is automatically owned by the survivor. The following charts show the distribution of separately owned property. (Effective September 1, 1978) If You Die Leaving: Wife or Husband and Child or Children (also of Survivor) Or their Descendants Wife or Husband receives $50,000 plus one-half of balance Child or Children receive one-half of balance divided equally Grandchildren take their deceased parents share unless all children be deceased, then all grandchildren share equally.

APPOINTMENT OF ADMINISTRATOR OR PERSONAL REPRESENTATIVES

When there is no will, an administrator, administratrix or personal representative is appointed by the court. Any close relative may be appointed. For an individual or a bank to be appointed administrator or personal representative, all other heirs must renounce their right. A surety bond must be furnished by paying a premium to a surety company for signing his or her bond. In the case of spouse, the need for a surety bond is waived if the surviving spouse is the sole inheritor of the estate not exceeding $50,000.00. If the estate is over $50,000.00 a bond must be provided for the amount over $50,000.00. The county surrogate grants letters of administration showing the authority to act. Information compliments of Cumberland Surrogate.

HOW A WILL IS PROBATED

Upon the death of the testator or testatrix, the will is probated. This is the legal process which establishes the genuineness of the will. It is done by the surrogate in the county where the testator or testatrix resides at the time of death. The executor, executrix or personal representative is appointed by going to the Surrogate Court with the will, a death certificate, and one of the witnesses. If the "attestation" clause (where the witnesses sign) is properly worded, only one of the witnesses need be present when a will is probated. If the attestation clause is not correct, both witnesses must be present. If both witnesses are dead, and there is one attestation clause, the will can be probated by proving their signatures. If they have moved away, the surrogate can appoint a commissioner where the witnesses reside to take their testimony. If an Affidavit of Testator and witnesses is acknowledged by a Notary Public, the witnesses need not appear at the time of probate.

NOTICE TO CREDITORS TO PRESENT CLAIMS

When a NOTICE TO CREDITORS is published, the executor/trix, administrator/trix shall mail a copy of the NOTICE TO CREDITORS to each creditor of the estate of which the personal representative knows or which can be ascertained by reasonable inquiry, by ordinary mail to the creditors last known address.

TAXES THAT INFLUENCE YOUR WILL

Three kinds of taxes can influence the provisions of your will: inheritance, estate and gift. An inheritance by will, by law, by surviving joint owner, or from life insurance is not income and is not subject to income tax.

New Jersey Inheritance Tax Inheritance Tax is a tax payable by an heir or beneficiary for the right to acquire the property of a deceased person or to receive a gift in anticipation of death. The tax is determined by the amount inherited and by the relationship of the individual to the deceased. In New Jersey, no one is taxed for receiving property, including money, worth up to $499.99.

Inheritance Tax Rates Spouses: All property passing to a spouse from a deceased spouse who died since January 1, 1985 is free of New Jersey inheritance tax. Forms for proving the exemption on checking accounts, savings accounts, Certificates of Deposit, etc. may be obtained from the institution holding the funds. Parents, grandparents, children, grandchildren, adopted children, or stepchildren: The first $50,000.00 is exempt where the decedent died between July 1, 1985 and July 1, 1986. The exemption is raised to $150,000.00 for decedents dying between July 1, 1986 and July 1, 1987; to $250,000.00 for decedents dying between July 1, 1987 and July 1, 1988. After July 1, 1988 all property passing to such persons is exempt. Brother, sister, daughter-in-law, or son-in-law: If the inheritance is $500.00 or more, the tax is 11 percent of the entire amount up to $1,100,000.00 and increases gradually thereafter. For persons dying after July 1, 1988 the exemption is $25,000.00. Every other beneficiary pays 15 percent on the total amount up to $700,000.00. Tax is 16 percent on remainder. Charitable, religious, or benevolent institutions: Each beneficiary in this class is tax exempt entirely. Money or property left the State of New Jersey, a municipality, or a nonprofit educational institution is exempt from inheritance tax.

Filing New Jersey Inheritance Tax Returns A substantial number of estates remain taxable and even some on which no tax is due require the filing of a New Jersey Inheritance Tax Return. Tax forms and instructions are furnished by the District Supervisor of the Transfer Inheritance Tax Bureau in the county where the decedent (a deceased person) resided at the time of death. The Executor, administrator or a personal representative files the completed inheritance tax return with the District Supervisor of the Transfer Inheritance Tax Bureau.

Clearing Title and Transferring Property For those estates that are taxable, unpaid inheritance taxes are a lien on New Jersey real estate and shares and stocks of corporations and financial institutions organized under laws of New Jersey. If there is no tax, the Transfer Inheritance Tax Bureau sends waivers that are required to clear title to the land and transfer ownership of bank accounts or securities.

If there is a tax, a bill is submitted and the waivers sent when the tax is paid. To clear title to real property, a waiver is filed with the county clerk in the county where the land is located. Land held by husband and wife as tenants by the entirety need not be reported and may be transferred without a waiver in the estate of the one first dying. To transfer stocks, shares, and securities of financial institutions and New Jersey corporations, the executor, administrator or personal representative sends waivers to them when asking transfer.

Inheritance tax returns must be filed and the tax paid within 8 months after decedents death to avoid interest, charged at the rate of 10 percent per year. Although the interest penalty cannot be waived beyond this 8-month period, the time for filing may be extended on application to the bureau. This tax information is general and may not apply to each estate; therefore, it is advised that the inheritance tax supervisor be contacted for further information before the estate is settled.

Gift Tax New Jersey does not levy a tax on gifts, except in anticipation of death. Any gift made within 3 years of death is presumed to be in anticipation of death and may be subject to New Jersey Inheritance tax. An individual may give an amount up to $10,000 to any one person during the calendar year, exempt from tax. A married couple can give up to $20,000 to a person yearly without tax. Any number of tax- free gifts may be made during the year. If you make gifts to one person of more than $10,000 during the calendar year, file a Federal Gift Tax Return with the District Director of Internal Revenue. Gifts between husband and wife are exempt from Federal Gift Tax. Federal Marital Deductions An unlimited amount of real and personal property can be transferred between spouses without Federal Estate Tax. For proper application of the marital deduction, contact your attorney or trust officer at your bank.

SELF PROVING WILLS RECOMMENDED USE SELF PROVING WILLS TO SPEED UP PROBATE

Prior to 1978, New Jersey Probate Rules required one of the two witnesses to a will to travel and appear in the surrogate¹s office and sign a paper to certify they were a witness. This often created problems when the witness was deceased, moved away, or simply could not be located. Some witnesses would require a $500 fee to simply sign a surrogate paper.

In 1978, the New Jersey Legislature passed a law to create a new type of will called a ³Self-Proving Will.² In such a will, the person for whom the will is made will sign. Then two witnesses sign. Then the attorney or notary must sign; with certain statutory language to indicate the will is self proving. When done properly, the execution will not have to locate any witnesses. This usually saves time and money. If your will is not ³self-proving² or if you are unsure, schedule an appointment with an elder law attorney.

GLOSSARY

Administrator, Administratrix (also known as Personal Representative) -- Person or institution appointed by the court to manage and distribute the estate of a person who dies without a will.

Beneficiary -- Person named to receive property or benefits.

Codicil -- An addition or supplement made to change or add provisions to a will.

Contingent beneficiary -- Receiver of property or benefits if first-named beneficiary dies before receiving all benefits.

Contract -- Legally enforceable agreement.

Decedent -- A deceased person.

Devise -- To give real or Personal Property.

Estate -- Everything a person owns, all real and personal property owned.

Executor, Executrix (also known as Personal Representative) -- A person or institution named in the will to carry out the provisions and directions of the will.

Intestate -- A person who dies without making a valid will.

Legatee -- Person who receives personal property under a will.

Levied -- To collect by assessment.

Lien -- A charge upon property, real or personal, for the satisfaction of a debt.

Personal property -- Intangible property, such as stocks, bonds, or bank accounts; and tangible property such as Furniture, Automobile, and Jewelry.

Probate -- Official proof of the genuineness of a will.

Real property -- Land and buildings.

Surrogate -- A judicial officer who has jurisdiction over the probate of wills in the absence of a contest and acts as the Clerk of the Probate

Court in the settlement of estates, guardianships, and trusts.

Tenants in common -- Two or more persons owning individual interests in property.

Testator, Testatrix -- The person who makes a will.

Trust -- Property owned and managed by one person for the benefit of another.

Trustee -- Person or institution holding property in trust.

Waiver -- A legal instrument relinquishing a right or lien.

Will -- A legal declaration of the manner in which a person wishes his

estate divided after death.

Witness -- Person who observes the signing of a will and also attests to

the signatures.

Part of the above information from the website of the Surrogate of Cumberland County.

Contact the Law Office of

Kenneth Vercammen & Associates, P.C.

732-572-0500

GLOSSARY

Administrator, Administratrix (also known as Personal Representative) -- Person or institution appointed by the court to manage and distribute the estate of a person who dies without a will.

Beneficiary -- Person named to receive property or benefits.

Codicil -- An addition or supplement made to change or add provisions to a will.

Contingent beneficiary -- Receiver of property or benefits if first-named beneficiary dies before receiving all benefits.

Contract -- Legally enforceable agreement.

Decedent -- A deceased person.

Devise -- To give real or Personal Property.

Estate -- Everything a person owns, all real and personal property owned.

Executor, Executrix (also known as Personal Representative) -- A person or institution named in the will to carry out the provisions and directions of the will.

Intestate -- A person who dies without making a valid will.

Legatee -- Person who receives personal property under a will.

Levied -- To collect by assessment.

Lien -- A charge upon property, real or personal, for the satisfaction of a debt.

Personal property -- Intangible property, such as stocks, bonds, or bank accounts; and tangible property such as Furniture, Automobile, and Jewelry.

Probate -- Official proof of the genuineness of a will.

Real property -- Land and buildings.

Surrogate -- A judicial officer who has jurisdiction over the probate of wills in the absence of a contest and acts as the Clerk of the Probate

Court in the settlement of estates, guardianships, and trusts.

Tenants in common -- Two or more persons owning individual interests in property.

Testator, Testatrix -- The person who makes a will.

Trust -- Property owned and managed by one person for the benefit of another.

Trustee -- Person or institution holding property in trust.

Waiver -- A legal instrument relinquishing a right or lien.

Will -- A legal declaration of the manner in which a person wishes his

estate divided after death.

Witness -- Person who observes the signing of a will and also attests to

the signatures.

This Page Provided Courtesy Of Harry A. Freitag, Jr.,Surrogate of Cumberland County.

 

 

Wills, Estate Planning & Probate Seminar

Wills, Estate Planning & Probate Seminar

Sayreville Senior Center

Wills, Estate Planning & Probate Seminar

April 26 at 11:00am Free community program

423 Main St., Sayreville, NJ 08872

WILLS & ESTATE ADMINISTRATION-PROTECT YOUR

FAMILY AND MAKE PLANNING EASY

SPEAKER: Kenneth Vercammen, Esq. Edison, NJ (Author-Answers to Questions About Probate)

The NJ Probate Law made a number of substantial changes in Probate and the administration of estates and trusts in New Jersey.

Main Topics:

1. The New Probate Law and preparation of Wills

2. 2016 changes in Federal Estate and Gift Tax

3. NJ Estate Tax on estates over $675,000

4. Power of Attorney

5. Living Will

6. Administering the Estate/ Probate/Surrogate

7. Questions and Answer

COMPLIMENTARY MATERIAL: Brochures on Wills, Answers to

Questions about Probate and Administration of an Estate, Power of

Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

Metuchen Library 480 Middlesex Ave, Metuchen, NJ 08840

(732) 632-8526

http://www.metuchenlibrary.org/

Free Will Seminars and Speakers Bureau for Groups

10 years ago the AARP Network Attorneys of the Edison/Metuchen/Woodbridge area several years ago established a community Speakers Bureau to provide educational programs to AARP and senior clubs, Unions and Middlesex County companies. Now, Ken Vercammen, Esq. and volunteer attorneys of the Middlesex County Estate Planning Council have provided Legal Rights Seminars to hundreds of seniors, business owners and their employees, unions, clubs and non-profit groups.

These quality daytime educational programs will educate and even entertain. Clubs and companies are invited to schedule a free seminar. The following Seminars are now available:

1. WILLS & ESTATE ADMINISTRATION-PROTECT YOUR FAMILY AND

MAKE PLANNING EASY

2. POWER OF ATTORNEY to permit family to pay your bills if you are temporarily disabled and permit doctors to talk with family

All instructors are licensed attorneys who have been in practice at least 25 years. All instructors are members of the American Bar Association, New Jersey

State Bar Association, and Middlesex County Bar Association. All programs include free written materials.

You dont have to be wealthy or near death to do some thinking about a Will. Here is your opportunity to listen to an experienced attorney who will discuss how to distribute your property as you wish and avoid many rigid provisions of state law.

Topics discussed include: Who needs a Will?; What if you die without a Will (intestacy)?; Mechanics of a Will; Selecting an executor, trustee, and guardian; Proper Will execution; Inheritance Taxes, Estate Taxes Living Will; Powers of Attorney; $13,000 annual gift tax exclusion, Bequests to charity, Why you need a Self-Proving Will and Estate Administration/ Probate.

Sample materials: Hand-outs on Wills, Living Wills/Medical Advance Directive, Power of Attorney, Probate and Administration of an Estate, Real Estate, Working with your Attorney, Consumers Guide to New Jersey Laws, and Senior Citizen Rights.

SPEAKERS BUREAU

At the request of senior citizen groups, unions, and Middlesex County companies and organizations, the Speakers Bureau is a service designed to educate citizens about how laws affect their lives and how the judicial system operates. We have attorneys available to speak to businesspersons, educational, civic and social organizations on a wide range of topics during business hours.

HELP YOUR MEMBERS LEARN THE LAW, PREVENT OR AVOID LEGAL

PROBLEMS

Chances are many of your members have been in a situation where they could benefited from legal advice. Have you ever been in an accident? Has a motor vehicle or criminal complaint ever been filed against you or a member of your family? Many individuals face these and other types of problems. Often people do not protect their rights, only to later face lengthy license suspensions or even jail for failure to resolve legal problems early on. Thats why Legal Rights Seminars are offered.

This means your members can get advice and possibly prevent legal problems before they occur. Most importantly, they can have peace of mind. Americans need an attorney when legal problems strike. As in the case of medical services, early treatment can prevent catastrophe and its attendant cost in time and money. For example, psychological studies have demonstrated that there is a direct correlation between legal problems and lost work time and productivity. Employees work performance often has a direct relationship to personal legal problems. Therefore, the sooner a solution can be found for the employees problems, the sooner employees can focus on their work.

In todays complex world, few people can function successfully and safely without competent legal advice. In order to insure your estate plans are legally set up, you need to know exactly where you stand so that you can avoid possibly catastrophic mistakes impacting both you and your family. For additional information on the Legal Seminars, contact our Coordinator, Kenneth Vercammens law office at (732) 572-0500, email VercammenLaw@njlaws.com

About the speaker: Kenneth A. Vercammen is a trial attorney in Edison, NJ. He is co-chair of the ABA Probate & Estate Planning Law Committee of the American Bar Association Solo Small Firm Division. He is a speaker for the NJ State Bar Association at the annual Nuts & Bolts of Elder Law & Estate Administration program. He is writing a book for the ABA on Wills and Estates.

He was Editor of the ABA Estate Planning Probate Committee Newsletter. Mr. Vercammen has published over 150 legal articles in national and New Jersey publications on litigation, elder law, probate and trial topics. He is a highly regarded lecturer on litigation and probate law for the American Bar Association,

NJ ICLE, New Jersey State Bar Association and Middlesex County Bar Association.

His articles have been published in noted publications included New Jersey Law Journal, ABA Law Practice Management Magazine, and New Jersey Lawyer. He established the NJlaws website www.njlaws.com which includes many articles on Estate Planning, Probate and Wills. He is a member of the AARP and often lectures to groups on the importance of an up to date Will, Power of Attorney and Living Will.

KENNETH VERCAMMEN & ASSOCIATES, PC

ATTORNEY AT LAW

2053 Woodbridge Ave.

Edison, NJ 08817

(Phone) 732-572-0500

(Fax) 732-572-0030

www.njlaws.com

www.CentralJerseyElderLaw.com


 

Wills, Estate Planning & Probate Seminar Sponsored by Jewi

Wills, Estate Planning & Probate Seminar Sponsored by Jewi

Press Release:

Wills, Estate Planning & Probate Seminar

Sponsored by Jewish Family Services

Held at Highland Park Conservative Temple - 
Congregation Anshe Emeth

201 South Third Avenue, Highland Park, NJ 08904

May 12, 2015 at 11am

WILLS & ESTATE ADMINISTRATION- PROTECT YOUR FAMILY AND MAKE PLANNING EASY

SPEAKER: Kenneth Vercammen, Esq. Edison, NJ

(Author- Answers to Questions About Probate)

The NJ Probate Law made a number of substantial changes in Probate and the administration of estates and trusts in New Jersey.

Main Topics:

1. The New Probate Law and preparation of Wills

2. 2015 changes in Federal Estate and Gift Tax

3. NJ Inheritance taxes on estates over $675,000

4. Power of Attorney

5. Living Will

6. Administering the Estate/ Probate/Surrogate

7. Questions and Answer

Open to the public. Call 732-306-0218 for info

COMPLIMENTARY MATERIAL: Brochures on Wills, Answers to Questions about Probate and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

https://www.facebook.com/events/962166290467767/


 

Tuesday, August 15, 2023

Who Receives Assets If No Will?

Intestacy is the condition of the estate of a person who dies owning property greater than the sum of his or her enforceable debts and funeral expenses without having made a valid will or other binding declaration; alternatively where such a will or declaration has been made, but only applies to part of the estate, the remaining estate forms the "Intestate Estate". Intestacy law, also referred to as the law of descent and distribution or intestate succession statutes, refers to the body of common law that determines who is entitled to the property from the estate under the rules of inheritance. See http://en.wikipedia.org/wiki/Intestacy

INTESTACY

According to the Bergen County Surrogate, It is estimated that almost one third of Bergen County residents who die this year, will die without a will. While I strongly encourage county residents to execute a will-and strongly recommend a will for every Bergen County adult-this article provides the estate procedure when a Bergen County resident dies without a will. See http://www.co.bergen.nj.us/Surrogate/BCSC_Intest.htm

The estate of every Bergen County resident must be settled with the Bergen County Surrogate's Court unless the deceased owned no assets individually in New Jersey. Except in that limited circumstance, an estate must be presented to the County Surrogate before disbursement of the deceased's assets can occur. This estate settlement requirement applies whether the person died with or without a will.

The estate of a person who dies without a will is called an "intestate" estate. The Administrator's responsibilities include notifying the deceased's next of kin of his/her death, assembling the estate's assets and disbursing those assets according to law. The applicant need not be an attorney. In fact, most applicants complete the entire Surrogate's Court process without the need for an attorney. However, if you feel more comfortable bringing an attorney to the Surrogate's Court, you may certainly do so.

To apply to be the Administrator of an intestate estate, a person must bring the following to the County Surrogate's Court: (1) The original death certificate with raised seal; (2) An estimate of the gross value (but not an item-by-item description) of the estate covering all real estate and non-real estate (personal) assets; (3) The complete names and addresses of the deceased's next of kin; (4) A blank New Jersey check or cash for fees-the average fees, excluding bonding costs, are $150-$250); (5) 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 statutory preference over the applicant to serve as the estate's Administrator.

As a matter of law, the family members of the deceased have the first right to serve as the Administrator, in the following order of preference: spouse, children, parents, brothers and sisters. Should no family member seek appointment, then a creditor or anyone else may do so. A person who renounces the right to serve as Administrator may do so without disclaiming the right to receive any of the deceased's assets. (In contrast, by having a will, a person can choose the individual(s) he/she wishes to take charge and distribute his/her estate's assets (the "Executor(s)").

Once the above-described five items have been received, the Surrogate will appoint the applicant as the Administrator of the intestate estate. In most cases, the Administrator must be bonded until the estate has been properly assembled and distributed. This bonding fee is in addition to the $150-250 in average fees paid by the person seeking to be approved as Administrator. Bonding is required to protect the creditors and beneficiaries of the estate from the possibility that the Administrator will misuse his/her authority to their financial detriment.

There are, however, exceptions to the bonding requirement for intestate estates. If the deceased has a surviving spouse and no surviving parent or child, the surviving spouse need not post a bond. If the deceased left a surviving spouse and a surviving parent or child, then there will be no bond required of the surviving spouse for the first $50,000 of the estate and one-half of the remainder. Otherwise, the cost of bonding is fixed on the value of the estate. Bond premiums are currently $100 per year, if the estate is worth $18,000 or less; $525 per year, if the estate is worth $100,000 or less. (By way of comparison, a person can have a simple Will drafted by an attorney for $250-$350 and the will can state that the person taking charge of the estate's assets, the "Executor", shall serve without any bond.)

After the Administrator has been appointed and bonded, the Surrogate's Court will then issue Surrogate's Certificates (also known as Letters of Administration) that are used to assemble and transfer the intestate's assets. It is recommended that you order several copies of these Certificates, especially if the assets are being held by several banks, brokerage firms, pension plans and insurance companies. They will also be needed to sell or transfer all real estate assets. Along with the Certificates, a General Information brochure regarding the New Jersey Inheritance Tax is sent by the Surrogate's Court to the Administrator by mail within 5-7 business days of his/her appointment.

Administration of the estate cannot be first completed until several additional steps are taken. First, the Administrator must gather the assets, pay the just debts and taxes, and then distribute the balance of the estate's assets in accordance with the law. Second, once all assets of the estate have been disbursed, the Administrator must have each recipient sign a Refunding Bond. The Administrator should also have the recipient(s) sign a Release at the same time. The Surrogate's Court provides, without charge, a form combining a Release and Refunding Bond. The executed Release and Refunding Bond (signed by the recipient in the presence of a Notary Public) should then be filed with the Surrogate's Court at a cost of $10.00 per Bond.

See http://www.co.bergen.nj.us/Surrogate/BCSC_Intest.htm

The laws of the State of New Jersey provide for the assets of the intestate estate to be distributed to the next of kin by "intestate succession" as follows:

I. If you die leaving a spouse but no children, grandchildren or parents, the surviving spouse receives all.

?II. If you die leaving a spouse and children who are also the children of the spouse, the spouse receives the first $50,000 plus one-half of the balance of the estate. The children receive the other one-half of the balance divided equally amongst them. If one of your children dies leaving children then your grandchildren take their deceased's parent's share. However, if all of your children have died before you then all of your grandchildren will share equally.

?III. If you die leaving a spouse and children who are not also the children of that spouse, the spouse receives one-half, the children receive one-half divided equally and, if applicable, the grandchildren take their deceased parent's share unless all the children are deceased. Should that occur, all the grandchildren share equally.

?IV. If you die leaving children but no spouse, the children receive all divided equally among them. If there are grandchildren, they take their deceased parent's share, unless all the children are deceased. In that event, all the grandchildren share equally.

?V. If you die leaving a spouse but no children or grandchildren, and if your mother or father is still living, your spouse receives the first $50,000 of your estate plus one-half of the balance and your parents (or parent, if only one survives you) receives the remainder.

?VI. If you die leaving no spouse, no children, no grandchildren, no grandchildren and one or both of you parents survive you, the surviving parent or parents take all divided equally. If no parent survives, then your surviving brothers and sisters receive all divided equally.

?VII. If you die leaving no surviving spouse, children, grandchildren, parents, brothers or sisters, then the estate will be divided equally among those people surviving you in the closest degree of kinship (starting with nieces and nephews) until an heir is found if possible.

?VIII. If you die leaving no surviving next of kin without a Will, your estate assets escheat to the State of New Jersey.

In a related manner, in addition to the appointment of an Administrator for an intestate estate, if the count resident dies leaving a child under 18 years of age and there is no other legal guardian for that minor child, then the Bergen County Surrogate must appoint that minor child's guardian. The procedure for this appointment is similar to the application and bonding process for an Administrator in the sense that the law gives certain family members priority to serve as guardian of the deceased's minor child, while allowing those lower on the priority ladder to serve as long as the appropriate written renunciations have been received by the Surrogate. (In contrast, if the person who died had a will, the deceased could have designated the guardian(s) of his/her minor child in the will and this designation would have been binding upon the Surrogate and all others.

Bergen County Surrogate's Court

http://www.co.bergen.nj.us/Surrogate/BCSC_Intest.htm

Wills and Estate Planning for Electrical Workers

 

Wills and Estate Planning for Electrical Workers

As average Americans, we work 80,000 hours in a lifetime, or 45 to 55 years. In spite of all our resources and the assets we earn during our lifetime, the vast majority of Americans do not take the time to create the legal instructions to guide the court or a guardian. National statistics indicate that more than 50% of Americans die without leaving a Will.

 

Where theres No Will

 

The result can be lengthy delays in the distribution of your estate, court battles between relatives and your children being raised by someone you do not favor. Your assets go to whoever a state law says receives the assets, or to the government itself! A Will should be a statement to the things you truly care about: your spouse, your children, your parents, your friends, and your charities.

If you leave no Will or your Will is declared invalid because it was improperly prepared or is not admissible to probate:

 

1. People you dislike or people who dislike and ignore you may get your assets.

2. State law determines who gets assets, not you

3. Additional expenses will be incurred and extra work will be required to qualify an administrator-Surety Bond, additional costs and legal fees

4. You lose the opportunity to try to reduce Estate Tax, State inheritance taxes and Federal estate taxes

5. A Judge determines who gets custody of children. A greedy brother or crazy mother in law could ask the court for custody.

6. If you have no spouse or close relatives the State may take your property

7. The procedure to distribute assets becomes more complicated

8. It probably will cause fights and lawsuits within your family

When loved ones are grieving and dealing with death, they shouldnt be overwhelmed with Financial concerns. A Will must not only be prepared within the legal requirements of the state Statutes but should also be prepared so it leaves no questions regarding your intentions.

 

 

Think- Who dont you want to receive your assets? Without a Will, they could receive your assets and request custody of children.

 

Who is not the best choice to raise your children, or safeguard your childrens money for college? Do you want children, or grandchildren, to get money when they turn 18? Will they invest money wisely, or go to Seaside and play games?

 

Life Insurance

Sometimes it is not wise to leave children as a beneficiary of life insurance and your pension if your children are under the age of 21. You could make your estate the beneficiary of life insurance, and pension, then direct in your Will that the money be used to provide support and college expense for children.

The Will setting up a trust for minors should provide that any portion of my residuary estate which becomes distributable to a beneficiary under the age of twenty-one (21) years shall be held as a separate trust by the Executor until such beneficiary attains the age of twenty-one (21) years. The Executor shall apply such amounts of income and principal as he, in his sole discretion, deems proper for the health, maintenance, education, welfare, or support of such beneficiary and shall accumulate any unexpended income not needed for the above purposes, paying and transferring the portion held in trust to the beneficiary upon his or her attaining the age of twenty-one (21) years. Prior to their attaining the age of twenty-one (21) years, the Executor may apply such income or principal for benefit of such beneficiary directly or by payment to the person with whom such beneficiary resides or who has the care or control of such beneficiary without the intervention of a guardian.

 

THE FOLLOWING IS A SAMPLE OF A VARIETY OF CLAUSES AND ITEMS WHICH KENNETH VERCAMMENS LAW OFFICE OFTEN INCLUDES IN A WILL

1ST: DEBTS AND TAXES

2ND: SPECIFIC BEQUESTS

3RD: DISPOSITION TO SPOUSE

4TH: DISPOSITION OF REMAINDER OF ESTATE

5TH: CREATION OF TRUSTS FOR SPOUSE

6TH: CREATION OF TRUST FOR CHILDREN

7TH: OTHER BENEFICIARIES UNDER 21

8TH: EXECUTORS

9TH: TRUSTEES

10TH: GUARDIANS

11TH: SURETY OR BOND

12TH: POWERS

13TH: AFTERBORN CHILDREN

14TH: PRINCIPAL AND INCOME

15TH: NO ASSIGNMENT OF BEQUESTS

16TH: GENDER

17TH: CONSTRUCTION OF WILL

18TH: NO CONTEST CLAUSE

 

WHY PERIODIC REVIEW IS ESSENTIAL

Even if you have an existing Will, there are many events that occur which may necessitate changes in your Will. Some of these are:

* Marriage, death, birth, divorce or separation affecting either you or anyone named in your Will

 

* Significant changes in the value of your total assets or in any particular assets which you own

* A change in your domicile

* Death or incapacity of a beneficiary, or death, incapacity or change in residence of a named executor, trustee or guardian of infants, or of one of the witnesses to the execution of the Will

 

* Annual changes in tax law

 

* Changes in who you like

MAY I CHANGE MY CURRENT WILL?

Yes. A Will may be modified, added to, or entirely changed at any time before your death provided you are mentally and physically competent and desire to change your Will. You should consider revising your Will whenever there are changes in the size of your estate. For example, when your children are young, you may think it best to have a trust for them so they do not come into absolute ownership of property until they are mature. Beware, if you draw lines through items, erase or write over, or add notations to the original Will, it can be destroyed as a legal document. Either a new Will should be legally prepared or a codicil signed to legally change portions of the Will.

A portion of your Will and Estate Planning can be deducted on your income tax return when it deals with tax planning. Thus, part of the fee is tax deductible for income tax purposes.

Under the law in New Jersey, if a person dies without a Will and without children, their spouse will inherit all assets, even if they are separated from the spouse. In addition, if you have children from a previous marriage, but no Will, the separated spouse will get half the estate.

 

SAVE MONEY- Have your attorney prepare a self- proving Will with a No bond clause

Your estate will be subject to probate whether or not you have a Will and in most cases, a Will reduces the cost by eliminating the requirements of a bond. With a well-drawn Will, you may also reduce death taxes and other expenses. Dont pinch pennies now to the detriment of your beneficiaries

 

Estate Planning is the process of examining what will happen to your property when you die and arranging for its distribution in such a manner as will accomplish your objectives.

The cost of a Will depends on the size and the complexity of the estate and the plans of the person who makes the Will.

 

Be sure your Will takes into account the 2010 Federal Tax changes and any Inheritance Tax changes. Also, ascertain if your Will is self-proving, which would dispense with having to find the Wills witnesses after death.

 

 

OTHER DOCUMENTS TO BE PREPARED BY YOUR ATTORNEY

-Power of Attorney- to allow a trusted person to administer your assets during your lifetime, either upon disability or now

-Living Wills- to state your wishes concerning medical care in the event of your serious illness

-Trusts (and Medicaid Trusts)

 

CONCLUSION

 

Planning can only be done if someone is competent and/or alive. Make sure your assets can be passed directly to your loved ones. Kenneth A. Vercammen is a Middlesex County trial attorney who has published 125 articles in national and New Jersey publications on litigation topics. He has been selected to lecture to trial lawyers by the American Bar Association, New Jersey State Bar Association and Middlesex County Bar Association.

Call our office to schedule a confidential appointment 732-572-0500

 

KENNETH VERCAMMEN & ASSOCIATES, PC

ATTORNEY AT LAW

2053 Woodbridge Ave.

Edison, NJ 08817

(Phone) 732-572-0500

(Fax) 732-572-0030

website: www.njlaws.com

Monday, August 14, 2023

Wills and Power of Attorney Program

 Learn about documents to save your family money

WHERE: Heritage at Clara Barton, 1015 Amboy Ave. Edison

WHEN: Wednesday, April 2, 2008 8 - 9 P.M.

SPEAKER: Kenneth Vercammen, Esq. of Edison

(Co-Author- NJ Elder Law & Probate)

Sponsor: Metuchen- Edison Women's Club

NJ State Federal of Women's Clubs, Shore District

Co-sponsored by Middlesex County Estate Planning Council

Cost: Free, open to the public

- So you don't have a Will. You won't live forever and you can't take it with you. What should you do?

Main Topics:

1. Wills and the changes to the NJ Probate Law

2. Power of Attorney

3. Living Will

4. Administering the Estate/ Probate/Surrogate

5. Question and Answer

COMPLIMENTARY MATERIAL: Brochures on Wills, "Probate and Administration of an Estate", Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

Here is your opportunity to listen to an experienced attorney who will answer questions how to distribute your property and avoid many rigid provisions of state law. For more information on Elder law, visit the Website KennethVercammen.com. You can also subscribe to the free email Elder Law newsletter by visiting the website, or sending an email to Kenv@KennethVercammen.com.

Call for information on Metuchen- Edison Women's Club contact

Christine Mullen 732-549-7173

About the Speaker: Kenneth Vercammen is an Elder Law and Litigation Attorney in Edison, NJ. He often lectures for the American Bar Association and New Jersey State Bar Association on Elder Law, personal injury, and criminal / municipal court matters. He has published 125 articles in national and New Jersey publications on legal topics. He speaks as a volunteer on Wills and Elder law to Adult Community Schools and non profit groups including Edison, Metuchen, Woodbridge, East Brunswick, North Brunswick, South Brunswick, Piscataway, Sayreville, Old Bridge, Spotswood and Perth Amboy Seniors. He has established New Jersey's most popular Elder law website on the Internet to provide information on Probate, Elder Law and Traffic matters located at KennethVercammen.com

About Middlesex County Estate Planning Council: In several counties in New Jersey, estate planning professionals have set up Councils whereby those assisting seniors and taxpayers with their estate planning could meet on a quarterly basis to share ideas. Invited to attend are accountants, financial planners, Life insurance agents, funeral directors, bank representatives involved in reserve mortgages, nursing home managers and Municipal senior citizen coordinators. We will share ideas on providing advice, new laws and marketing. Senior Citizen Coordinators and anyone who provides advice to seniors and the Elderly should also attend.

KennethVercammen.com/middlesex_estate_council_speaker_needed.htm

Wills and New Probate Law of NJ

 


Compiled By Kenneth Vercammen, Esq. (c) 2007-2008

The New Probate Statute of NJ revised various sections of the New Jersey law on Wills and estates. The Law makes a number of substantial changes to the provisions governing the administration of estates and trusts in New Jersey.

IF YOU HAVE NO WILL:

If you leave no Will or your Will is declared invalid because it was improperly prepared or is not admissible to probate:

* State law determines who gets assets, not you

* Additional expenses will be incurred and extra work will be required to qualify an administrator

* Judge determines who gets custody of your children

* Possible additional State inheritance taxes and Federal estate taxes

* If you have no spouse or close relatives the State may take your property

* The procedure to distribute assets becomes more complicated-and the law makes no exceptions for persons in unusual need or for your own wishes.

* It may also cause fights and lawsuits within your family

When loved ones are grieving and dealing with death, they shouldn't be overwhelmed with Financial concerns. Careful estate planning helps take care of that.

The Uniform Probate Code attempts to bring greater uniformity to the rules governing testamentary and non-testamentary transfers in response to the significant number of non-testamentary transfers that occur at the time of the decedent's death. For example, a new term, "governing instrument" has been incorporated as a definition in the substitute to include deeds, trusts, insurance and annuity policies, POD (pay on death) accounts, securities registered in beneficiary form (TOD), pension, profit sharing, retirement and similar benefit plans, and other wealth transfer instruments.

The law also clarifies situations where writings that are intended as wills would be allowed, but requires that the burden of proof on the proponent would be by clear and convincing evidence.

The law provides that divorce or annulment of a marriage, under certain circumstances, would revoke not only provisions of the former spouse's will, but also non-probate transfers occurring by reason of the decedent's death to the former spouse.

The law expands the provisions requiring survival of a beneficiary by 120 hours to succeed to an interest of a decedent in non-probate transfers.

The law also makes substantial revisions to the laws governing intestate succession. [Dying without a Will] For example, the substitute provides that the intestate share of a surviving spouse would be 100% of the intestate estate where all of the surviving descendants of the decedent are also the descendants of the surviving spouse and the surviving spouse has no other descendants. The surviving spouse would now be entitled to a larger share of the estate in the event that either a parent of the decedent survives a decedent who has no descendants, or there are descendants of the surviving spouse who are not descendants of the decedent. Finally, stepchildren of a decedent would be added as a final class of takers.

The law expands the law with respect to disinheritance of a person who criminally and intentionally kills the decedent to include revocation of non-testamentary dispositions.

The law consolidates the law concerning disclaimers of probate and non-probate property. The law clarifies that a fiduciary may, with court approval, disclaim any power or discretion held by such fiduciary, and may disclaim without court approval if the governing instrument so permits.

This law would also make some changes with regard to small estates. Under the old law, upon filing an affidavit with the surrogate the surviving spouse is entitled to the assets of an estate without administration if the assets do not exceed $10,000; similarly, in situations where there is no surviving spouse and the assets of the estate do not exceed $5,000, the heirs are entitled to the assets without administration if one of the heirs files an affidavit with the consent of the remaining heirs. This law amends N.J.S.A. 3B:10-3 and 3B:10-4 to increase these amounts to $20,000 and to $10,000, respectively.

Finally, the law expands the rules of construction formerly applicable only to Wills to other donative transfers.

The law provides a limited statute of limitations with respect to creditor claims against a decedent's estate.

Call our office to schedule a "confidential" appointment 732-572-0500

Kenneth Vercammen & Associates.

2053 Woodbridge Avenue

Edison, NJ 08817

KennethVercammen.com

Will/Trust Inheritance Contests

 Will/Probate/Trust Inheritance Contests

Do you think you are entitled to money or might be entitled to money from an estate or trust? Do you believe that someone is unfairly claiming money or property that is rightfully yours? Has The Executor of Administrator of the Estate not done their job? If so, and you are a prospective plaintiff or defendant, then you may need an attorney to protect your rights. Ken Vercammen's office charges a $200 consult fee either in person or over the phone. 

Executor Duties and Responsibilities

At some point in time, you may be asked to serve as the executor of the estate of a relative or friend, or you may ask someone to serve as your executor. An executors job comes with many legal obligations. Under certain circumstances, an executor can even be held personally liable for unpaid estate taxes. Lets review the major duties involved.

In General, the executors job is to

1. Administer the estate--i.e., collect and manage assets, file tax returns and pay taxes and debts--and 2. Distribute any assets or make any distributions of bequests, whether personal or charitable in nature, as the deceased directed (under the provisions of the will).

Lets take a look at some of the specific steps involved and what these responsibilities can mean. Chronological order of the various duties may vary.

Step 1: Probate. The executor must probate the will. Probate is a process by which a will is admitted. This means that the will is given legal effect by the court. The courts decision that the will was validly executed under state law gives the executor the power to perform his or her duties under the provisions of the will.

Step 2: Manage the Estate. The executor takes legal title to the assets in the probate estate. The probate court will sometimes require a public accounting of the estate assets. The assets of the estate must be found and may have to be collected. As part of the asset management function, the executor may have to liquidate or run a business or manage a securities portfolio. To sell marketable securities or real estate, the executor will have to obtain stock power, tax waivers, file affidavits, and so on.

Step 3: Take Care of Tax Matters. The executor is legally responsible for filing necessary income and estate-tax returns (federal and state) and for paying all death taxes (i.e., estate and inheritance). The executor can, in some cases be held personally liable for unpaid taxes of the estate. Tax returns that will need to be filed can include the estates income tax return (both federal and state), the federal estate-tax return, the state death tax return (estate and/or inheritance), and the deceased’s final income tax return (federal and state). Taxes usually must be paid before other debts. In many instances, federal estate-tax returns are not needed as the size of the estate will be under the amount for which a federal estate-tax return is required.

An employer identification number (EIN) should be obtained for the estate; this number must be included on all returns and other tax documents having to do with the estate. The executor should also file a written notice with the IRS that he/she is serving as the fiduciary of the estate. This gives the executor the authority to deal with the IRS on the estates behalf.

Often it is necessary to hire an appraiser to value certain assets of the estate, such as a business, pension, or real estate, since estate taxes are based on the fair market value of the assets. After the filing of the returns and payment of taxes, the Internal Revenue Service will generally send some type of estate closing letter accepting the return. Occasionally, the return will be audited.

Step 4: Pay the Debts. The claims of the estates creditors must be paid. Sometimes a claim must be litigated to determine if it is valid. Any estate administration expenses, such as attorneys, accountants and appraisers fees, must also be paid.

Step 5: Distribute the Assets. After all debts and expenses have been paid, the distribute the assets with extra attention and meticulous bookkeeping by the executor. Frequently, beneficiaries can receive partial distributions of their inheritance without having to wait for the closing of the estate.

WHO SHOULD SERVE AS EXECUTOR? The executors legally imposed fiduciary duty is to act in all ways in the best interests of the estate and its beneficiaries. The duties of an executor can be difficult and challenging and should not be taken lightly.

We believe an executor needs not only the skills, training, and experience necessary to do the project--casual or part-time attention is not likely to achieve success.

Under increasingly complex laws and rulings, particularly with respect to taxes, an executor can be in charge for two or three years before the estate administration is completed. If the job is to be done without unnecessary cost and without causing undue hardship and delay for the beneficiaries of the estate, the executor should have an understanding of the many problems involved and an organization created for settling estates. In short, an executor should have experience.

Will/Trust Inheritance Contests

If you have evidence a Will was not prepared properly, the signer was incompetent, there was undue influence, you may be able to prevent the filing of the Will in probate if you immediately hire an attorney to file a Caveat to the Will.

A. Caveat

Is a formal notice by someone to prevent the proving of a Will or the grant of administration of an Estate. The following is one of the NJ Court Rules dealing with a Caveat to Will

RULE 4:82. MATTERS IN WHICH THE SURROGATE'S COURT MAY NOT ACT

Unless specifically authorized by order or judgment of the Superior Court, and then only in accordance with such order or judgment, the Surrogate's Court shall not act in any matter in which

(1) a caveat has been filed with it before the entry of its judgment;

(2) a doubt arises on the face of a will or a will has been lost or destroyed;

(3) the application is to admit to probate a writing intended as a will as defined by N.J.S.A. 3B:3-2(b) or N.J.S.A. 3B:3-3;

(4) the application is to appoint an administrator pendente lite or other limited administrator;

(5) a dispute arises before the Surrogate's Court as to any matter; or

(6) the Surrogate certifies the case to be of doubt or difficulty.

If there is no dispute on the validity of the Will, sometimes the Executor does not do their job and you want to have the Executor removed and replaced.

Under New Jersey Law, the person selected as an executor of a Will have numerous legal responsibilities following the death of the person who signed the Will. Primarily, they have a duty to probate the Will, liquidate assets, pay bills and taxes, file all necessary court and tax returns, and then distribute the assets to beneficiaries

Unfortunately, the Executor occasionally fails to timely carry out their duties. They may fail to timely file tax returns, fail to keep records, misappropriate assets or ignore instructions under the Will. 

In this case the Executor __ has failed to comply with the Duties of Executor in Probate & Estate Administration to:

1. Conduct a thorough search of the decedent's personal papers and effects for any evidence which might point them in the direction of a potential asset, namely mineral rights;

2. Keep records of expenses

3. Timely Sell real estate

4 Timely File required inheritance tax returns and provide a copy to Kim

It is unclear if the executor timely preformed the below duties:

Apply to Federal Tax ID #

Set up Estate Account at bank (pay all bills from estate account)

Pay Bills

Notice of Probate to Beneficiaries 

File notice of Probate with Surrogate 

File first Federal and State Income Tax 

Prepare Inheritance Tax Return and obtain Tax Waivers 

File waivers within 8 months upon receipt 

Prepares a accurate Informal Accounting

In General. The executor's job is to (1) administer the estate--i.e., collect and manage assets, file tax returns and pay taxes and debts--and (2) distribute any assets or make any distributions of bequests, whether personal or charitable in nature, as the deceased directed (under the provisions of the Will

Do you think you're entitled to money or might be entitled to money from an estate or trust? Do you believe that someone is unfairly claiming money or property that is rightfully yours? If so, and you are a prospective plaintiff or defendant, then you may need an attorney to protect your rights. 

We do not handle cases on contingency.

Our Hourly rate is $350/ hr. and minimum retainer is $7,000.

These areas are extremely complex, and you should not attempt to reach a decision on whether or not to take action (and, if so what action to take) without the assistance of counsel.

FILING SUIT IN AN ESTATE CONTEST

RULE 4:84. COMPLAINTS IN CASES IN WHICH SURROGATES COURT NOT ABLE TO ACT

4:84-1. In General

In any case in which, under R. 4:82, the Surrogates Court may not act, any person in interest may file a complaint and apply for an order directed to all other interested parties to show cause why the relief sought should not be granted. Service shall be as provided by R. 4:67-3.

4:84-2. Probate in the Superior Court

If a will is sought to be proved in the Superior Court, proceedings for discovery shall be available pursuant to R. 4:10, R. 4:12 to 4:19 inclusive, R. 4:21 and R. 4:23. On the taking of a deposition, a photocopy of the will shall be marked for identification by the person before whom the deposition is taken. If the will is admitted to probate, the judgment of the Superior Court shall direct that the will be filed with and recorded by the Surrogates Court. Letters of appointment shall then be issued by the Surrogates Court.

4:84-3. Contested Administration

Where administration of an estate has been contested, the judgment of the Superior Court granting administration shall direct issuance and recording of letters of administration by the Surrogates Court.

4:84-4. Appointment of Substituted Trustees

An action for the appointment of a substituted trustee (a trustee not named in the trust document) of an inter vivos or testamentary trust shall be brought pursuant to R. 4:83. The complaint shall have attached a copy of the trust instrument and the acceptance by the person or persons seeking the appointment. The order to show cause shall be served upon all persons having an interest in the trust, vested or contingent, except as otherwise provided by R. 4:26-3 (virtual representation), and upon any trustees then serving. The judgment shall direct the issuance by the Surrogates Court of letters of trusteeship.

4:84-5. Appointment of Administrator Pendente Lite or Other Limited Administrator

No order appointing an administrator pendente lite or other limited administrator shall be entered by the Superior Court without either notice to the persons in interest or their written consent, unless it clearly appears from specific facts shown by affidavit or by the verified complaint that immediate and irreparable damage will result before notice can be served and a hearing had thereon. If an order is granted without notice, it shall give any person in interest leave to move for the discharge of the administrator on no more than 2 days notice. This rule shall not apply to the administrator ad prosequendum in an action for wrongful death.

RULE 4:85. REVIEW BY SUPERIOR COURT OF ACTIONS BY SURROGATES COURT: GENERAL PROVISIONS

4:85-1. Complaint; Time for Filing

If a will has been probated by the Surrogates Court or letters testamentary or of administration, guardianship or trusteeship have been issued, any person aggrieved by that action may, upon the filing of a complaint setting forth the basis for the relief sought, obtain an order requiring the personal representative, guardian or trustee to show cause why the probate should not be set aside or modified or the grant of letters of appointment vacated, provided, however, the complaint is filed within four months after probate or of the grant of letters of appointment, as the case may be, or if the aggrieved person resided outside this State at the time of the grant of probate or grant of letters, within six months thereafter. If relief, however, is sought based upon R. 4:50-1(d), (e) or (f) or R. 4:50-3 (fraud upon the court) the complaint shall be filed within a reasonable time under the circumstances. The complaint and order to show cause shall be served as provided by R. 4:67-3. Other persons in interest may, on their own motion, apply to intervene in the action.

4:85-2. Enlargement of Time

The time periods prescribed by R. 4:85-1 may be extended for a period not exceeding 30 days by order of the court upon a showing of good cause and the absence of prejudice.

4:85-3. After-Discovered Will

(a) Order to Show Cause. Where administration has been granted and subsequently a will is offered for probate or where probate of a will has been granted and subsequently a later will is offered for probate, the person offering such will may, upon the filing of a complaint, move without notice for an order requiring all interested persons to show cause why probate of such will should not be granted. The complaint shall be filed in the county where the original administration or probate was granted. If, on the return date or thereafter, new probate is granted, the court shall require the administrator or prior executor to make final settlement of his or her account and thereafter shall make such order respecting commissions as is appropriate.

(b) Probate by Surrogate. If, on the return date of the order to show cause, there is no objection to the offering of the after-discovered will for probate, the Surrogate may enter an order that it be lodged for probate and thereafter proceed with probate unless a caveat has been filed or doubt arises from the face of the will.

KENNETH VERCAMMEN, ESQ.

RECENT SPEAKING ENGAGEMENTS ON WILLS, ELDER LAW, AND PROBATE Edison Adult School -Wills, Elder Law & Probate- 2011, 2007, 2006, 2005, 2004, 2003, 2002, 2001, 2000,1999,1998,1997 Old Bridge AARP 2002; Guardian Angeles/ Edison 2002; St. Cecelia/ Woodbridge Seniors 2002; Temple Beth Or 2002; -Linden AARP 2002 Woodbridge Housing 2001; Chelsea/ East Brunswick 2001, Village Court/ Edison 2001; Old Bridge Rotary 2001; Sacred Heart/ South Amboy 2001; Livingston Manor/ New Brunswick 2001 -Wills and Estate Administration - Woodbridge Adult School 2001, 2000,1999,1998,1997,1996 -Wills and Elder Law - Metuchen Adult School 1999,1997,1996,1995,1994,1993 -Clara Barton Senior Citizens- Wills & Elder Law-Edison 2002, 1995 -AARP Participating Attorney in Legal Plan for NJ AARP members -Senior Legal Points University of Medicine & Dentistry UMDNJ & St. Peters-2000, 1999,1998 -East Brunswick AARP Wills 2001 -Iselin/ Woodbridge AARP Wills 2000 -Metuchen Reformed Church; Franklin/ Somerset/ Quailbrook Seniors 2001 -North Brunswick Senior Day 2001 -Wills, Elder Law and Probate-South Brunswick Adult School 1999,1997,1993 -Wills and Estate Planning-Old Bridge Adult School 1998,1997,1995 -Senior Citizen Law-Perth Amboy YMHA 1995 -Wills, Living Wills and Probate-Spotswood Community School 1995,1994,1993 -Wills and Probate-Sayreville Adult School 1997, 1996,1995,1994 -Living Wills-New Jersey State Bar Foundation and St. Demetrius, Carteret 1994 -Wills and Estate Planning-Edison Elks and Senior Citizens January 1994 -Legal Questions Clinic Metuchen Adult School March 1995,1994,1993 -Estate Planning to Protect Families-Metuchen Chamber of Commerce April 1993 -Living Wills-Dean Witter and Nordstrom’s, Menlo Park Mall October 1992; Trusts and Living Wills-Dean Witter, Metro Park, June 1992; Estate Planning-North Brunswick Republican Club May 1992; -Wills and Power of Attorney 1991 Edison Democratic Association

New Jersey State Bar Association -General Practice Section-Board of Directors 1995- Present

ADJUNCT PROFESSOR Middlesex County College Edison, NJ February, 2001-April, 2001; Jan. 1990-May, 1991

New Jersey Superior Court - Certified Mediator 1997- New Jersey Supreme Court Committee on Municipal Court Education: Appointed by Chief Justice Robert N. Wilentz 1990 - 1997

 

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