Legal Question in Wills and Trusts in New Jersey

Re: Loan Repayment to Estate

You do not describe the assets compising the estate and its obligations, or the need for liquidy. This information is needed for a complete reply. The Administrater, presuming one has been appointed, has the responsibility to recover all assets, including loans, and pay all bills. Since the estate is under $675,000 and the heirs are children, the only forms needed are self-executing waivers, which can be obtained at the State web site. Depending upon the available assets and debts, the loan can be a reduction in the debtor's share of the estate. If you need assistance, contact me directly.

Re: Loan Repayment to Estate

The Administrator has the responsibility to recover assets of all types, pay all bills, account for and distribute te estate. Assets may be liquidated or distributed in kind. You did not specify what are the estate assets, what bills need to be paid or why you need the loan repaid. Loans receivable from an heir can offset his/her distribution. Since this is a non-taxable estate, assets may be liuidated using self-proving Waivers and the State need not be involved. If you need more information and/or assistance, contact me directly.