Legal Question in Wills and Trusts in New Jersey

New Jersey Death Taxes

I understand that NJ collects a transfer, inheritance tax ( and the formula for spouses, siblings, etc.)

but I need to know if Nj collects an estate tax, over and above the other.

There are still taxes to be paid on the federal level but will the inheritance tax be all that is required in NJ? I live in another state and am confused by all of NJ's taxes. Thank you.


Asked on 7/12/09, 9:06 pm

1 Answer from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Re: New Jersey Death Taxes

The answer depends on the value of the taxable estate and on the relationship of the beneficiaries to the decedent.

If you paid a federal estate tax, you will owe a NJ Estate tax too. You will owe a NJ Inheritance tax if the beneficiaries are not spouse, children, grandchildren, etc. Sometimes, the Inheritance Tax can exceed the estate tax...if that happens, you only pay the Inheritance tax.

Call me if you would like to discuss.

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Answered on 7/13/09, 10:00 am


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