Estate Administration

The J. A. Centanni Law Firm works with clients who have been designated as executors or appointed as administrators and need assistance with gathering the assets of the estate, paying the debts of the estate, and distributing the assets to the beneficiaries in accordance with the will or the laws of intestate succession.

The J. A. Centanni Law Firm also works with beneficiaries who have been provided with an interest under a will or the laws of intestate succession.

Common Questions Regarding Estate Administration In New Jersey

What does it mean to be an Executor of an Estate?

An executor is a fiduciary named in a Will who is responsible for carrying out the instructions in the Will regarding the decedent’s assets, paying the decedent’s debts and distributing the property owned by the decedent.

I have been notified that I am a beneficiary in a will. What should I do?

As a beneficiary, it is important that you request a copy of the will and inquire regarding the progress of the administration so that there is a timetable for the process. It is also important that you remain engaged in ongoing communication with the executor.
I am selling a property that is part of an estate.

Is it acceptable to simply distribute the proceeds directly to the beneficiaries after closing?

No. One of the last steps in an estate administration is the final distribution of estate assets to the beneficiaries. All debts and expenses should be paid, and all tax returns filed, prior to making any distributions to the beneficiaries.

Are there any tax documents that need to be filed?

Yes. Any estate with more than $600.00 of gross income in the estate’s tax year must file its own separate federal tax return and may also have to file a state income tax return. Additionally, depending on the size of the estate, a federal tax estate tax may need to be filed as well as an inheritance tax return, depending on who the beneficiary is. New Jersey repealed its estate tax for decedents who die on or after January 1, 2018.

Can I simply distribute the assets to the beneficiaries?

No. All debts and expenses should be paid, and all tax returns filed, prior to making any distributions to the beneficiaries.