Legal Question in Wills and Trusts in New Jersey

transfer on death laws in new jersey

How can I found out if the state of new jersey recognizes and accepts Transfer on Death forms or TOD's and Payment on Death or POD's so that when I die those said assets will go directly to named beneficiaries avoiding probate issues/


Asked on 2/28/09, 6:02 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: transfer on death laws in new jersey

NJ recognizes POD accounts, which as you say, avaoid probate. However, POD accounts are still recognized as assets belonging to the decedent for Inheritance Tax purposes, if the total asset value of all assets is large enough. Many people use a form of Living Trust, with irrevocable provisions, which if properly drawn defers inheritance until the maker dies, and may also reduce or eliminate possible death taxes. If you need more information, contact me directly.

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Answered on 3/01/09, 8:56 pm


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