Legal Question in Wills and Trusts in New Jersey

My father that was ill with cancer recently passed away. He used an estate lawyer to draft his will, make changes to his deed, prenuptial, power of attorney and etc.

I understand that the will is for probate assets but what about non-probate assets such as life insurance policies, 401k, IRA and etc. Would there be another document for non-probate assets? Would the attorney discuss these things and document it? How does the family go about assets not listed in the will? Do you think it might be listed in will even if its not probate assets?


Asked on 12/30/12, 6:10 am

3 Answers from Attorneys

Robert Gleaner Robert A. Gleaner, P.C.

Wills often name both probate and non-probate assets. However, the manner in which some assets will pass and to whom is generally controlled by a beneficiary designation that would likely have been completed by your father prior to his death and filed with the individual companies. You would need to contact the company to determine their procedures for obtaining the assets. You should also seriously consider retaining an attorney who does estate administration to complete the many things that need to be done to complete the estate. There are many matters that need to be completed included proper filings with the State of NJ and possibly the IRS.

Keep in mind that this answer is given based on the scanty information you have provided. My answer may change based on other information. Further, you cannot rely on this answer since you have not retained me as your attorney. To be sure that you have accurate information and direction, you should consult with an attorney. Good luck. Rob Gleaner

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Answered on 12/30/12, 8:31 am
Robert Davies The Davies Law Firm, P.A.

Give me a call if you want some legal advice on all these issues.

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Answered on 12/30/12, 9:14 am
Walter LeVine Walter D. LeVine, Esq.

Bob Gleaner is mostly accurate, although non-probate assets (ones that pass to heirs by operation of law, such as bank accounts registered as joint tenants with right of survivorship) and those having a beneficiary designation (like insurance policies or retirement plans) rarely are mentioned in a Will, as the Will only operates on probate assets. He is correct that anyone interested might contact the assetr issuer (bank, insurance company, broker, etc.) to get the information.

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Answered on 12/30/12, 7:18 pm


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