Legal Question in Wills and Trusts in New Jersey
name on inheritance check?
My father recently passed away. My brother is Personal Rep. There are four children including myself. My brother will write checks to each of us, half in a few weeks and the final half later. He tells me it will be between $15K and $17K. I don't want him to write my check to me, but to the man who co-owns my house with me. We're not trying to circumvent paying taxes on it. He'll do that. It's just that most of the expenses in building this manufactured home last year he paid for with his credit cards. And it would simplify things if I didn't have to pay taxes on it, and then HE had to pay taxes on a gift from me all over again. Seems like Uncle Sam makes out like a bandit on this one. So can my brother legally write the check to my partner instead of me? He says no. I say why not? The will says ''To make distribution in cash or in kind or partly in each and not necessarily on a prorate basis if the Personal Representative deems a different allocation advisable for any reason, including value or income tax basis of distributed assets.'' ...''shall admit a good faith effort to be fair to all beneficiaries...'' etc. etc. Doesn't that give him some wiggle room? Thanks much for any help and advice. I'm in California, he's in NJ.
1 Answer from Attorneys
Re: name on inheritance check?
Your brother is acting responsibly. The personal representative's obligation is to distribute the net assets of the estate in accordance with the will and the law. Any private arrangement that you might have is not the business of the estate. If the PR did what you suggest, he runs the risk of involving himself and the estate in a subsequent dispute such as between you and the payee or a taxing authority.
See also: http://info.corbettlaw.net/lawguru.htm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
