Legal Question in Wills and Trusts in New Jersey

I am the executor of my mother's estate. I am a JOINT owner of her checking accounts with my mother. My understanding is, in NJ, the amounts in jointly held accounts are NOT considered part of the estate, and therefore, are NOT included in calculations of the executor's fee.

My question: If I am NOT keeping the jointly held accounts, but depositing them into the estate bank account and distributing these funds to the heirs. Are the joint funds now made a part of the estate, deposited to the estate account, and divided equally among heirs, that can be included in the estate and used in executor fee calculations?


Asked on 4/23/25, 8:36 am

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

My answer is no. Unless this joint account was created solely for mom’s convenience and not intended to just pass to you on her death the proceeds belong to you. If you decide to split the proceeds between the heirs this is your decision. On the other hand if this was intended to be an accommodating account (convenience for mom) and intended to be split I would include it as an estate account and you could ask for fees.

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Answered on 4/23/25, 3:12 pm


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