Frequently Asked Probate Questions

1) How do I begin the probate procedure? The person that wishes to be appointed to represent the Estate will bring a certified copy of the death certificate and the original Will. The probate cannot be completed until 10 days after death.

2) Who has the right to be appointed when a person dies without a Will?The surviving spouse has the first right. However, any heir may be appointed assuming they obtain the appropriate renunciations from equal or prior heirs.

3) If a person dies without a Will, what will the surviving spouse get?If the surviving spouse has only children of the same marriage, then spouse will inherit the entire estate. If there are children of the same marriage and the surviving spouse has a child or children of a prior union, then the spouse will take the first 25% of the estate, but not less than $50,000 or more than $200,000, plus one-half of any balance. The children share the other half equally.

4) Why do I need to post a bond if someone dies without a will?New Jersey requires that a bond must be posted that represents the value of the assets in the Estate. The bond acts as an insurance policy to ensure that the assets are distributed properly.

5) How does the surviving spouse access joint bank accounts or certificates of deposit?Certain bank accounts or certificates of deposits may be owned with right of survivorship, which means that upon the death of one party to the account, the surviving spouse becomes the sole owner. The surviving spouse may require a tax waiver to access the funds.

6) How many Surrogate certificates will I need?The certificates provide the authority of the estate’s executor to act. They are necessary to accomplish certain tasks such as transferring real estate, stock accessing or closing bank accounts, etc. A list of the Estate assets should be prepared to show the number of transfers that will need to take place. That number should reflect the required number of certificates.

7) Do I need to file a formal accounting for the estate?No, most estates in New Jersey are settled without a formal court accounting. An executor may, however, file an informal court accounting with the written consent of all of the estate beneficiaries that dispenses with the accounting, approves the actions of the representative and provides for the distribution.

8) Do I need an attorney to prepare my Will or represent an estate?No, however, it is strongly suggested that you seek the services of an attorney to prepare your Will, as defects can cause more problems than the initial cost to have the Will drafted. Our law firm is frequently used to provide legal counsel to an estate.

Patel Law Offices offers a strategy session to discuss how to resolve your legal problem. Conveniently schedule online today with our online scheduler and questionnaire.