New Jersey Intestacy Law

What if I die without a Will?

If you die without a Will, your property will be distributed according to New Jersey intestacy law. That law changed in 2005. Here is the way your property will be divided if you die without a Will:

* If you are survived by your spouse and children of that marriage, he/she will receive your property.

* If you are survived by your spouse, children of that marriage and you have children of a prior marriage, your spouse will receive the first 25% of your property, but not less than $50,000 and not more than $200,000, plus one half o the balance of your property and your children will receive the remaining one half of the balance. Nothing will be set aside for your parent.

* If you have no children, but you do have a parent(s), your spouse will receive the first 25% of your property, but not less than $50,000 or more than $200,000, plus three fourths of the balance of your property. Your parents will receive the other one fourth.

* If you have no spouse and no children, your estate will pass to your parents, if alive, or to your siblings, or if there are none, to your grandparents, if alive, or to your aunts and uncles.

Your spouse will probably be appointed as the administrator of your estate. If you have no spouse, your nearest relative may be appointed administrator or incapacitated person.

A bond will have to be purchased to insure that the estate is properly administered. Another bond may have to be obtained if property is distributable to a minor.

The rigid provisions of the intestacy law and the additional expenses and the uncertainties outlined above can all be avoided by having a Will.

For more information, contact us at info@hjslawoffice.com