2007_01_01_archive

The New NJ Probate Law makes a number of substantial changes in

Probate and the administration of estates and trusts in New Jersey.

Update your Will now.

The law now includes situations where writings that are intended as

Wills would be allowed, but requires that the burden of proof on the

proponent would be by clear and convincing evidence. The law provides

that divorce or annulment of a marriage, under certain circumstances,

would revoke not only provisions of the former spouse's Will, but also

non-probate transfers occurring by reason of the decedent's death to

the former spouse. The law expands the provisions requiring survival

of a beneficiary by 120 hours to succeed to an interest of a decedent

in non-probate transfers.

The law also makes substantial revisions to the laws governing

intestate succession. For example, the law provides that the intestate

share of a surviving spouse would be 100 percent of the intestate

estate where all of the surviving descendants of the decedent are also

the descendants of the surviving spouse and the surviving spouse has

no other descendants. Further, the surviving spouse is now entitled to

a larger share of the estate in the event that either a parent of the

decedent survives a decedent who has no descendants, or there are

descendants of the surviving spouse who are not descendants of the

decedent. Finally, stepchildren of a decedent would be added as a

final class of takers.

The law consolidates the law concerning disclaimers of probate and

non-probate property. The law clarifies that a fiduciary may, with

court approval, disclaim any power or discretion held by such

fiduciary, and may disclaim without court approval if the governing

instrument so permits.

Finally, the law expands the rules of construction formerly applicable

only to wills to other donative transfers. The law provides a statute

of limitations with respect to creditor claims against a decedent's

estate.

Kenneth Vercammen, Esq.