New Jersey Probate | Inheritance Advances in New Jersey

The New Jersey probate process serves a vital purpose. When someone dies in New Jersey, probate allows the courts to facilitate the distribution of their estate. The local Surrogate Court and the deceased person’s — or decedent’s — appointed executor work together to itemize assets, pay all debts and verify the deceased’s will. After the probate process is closed, all assets go to their rightful heirs.

Though probate aims to streamline the distribution of your loved one’s estate, it can be a long time before you get your inheritance. Open probate cases take at least nine months in New Jersey to account for potential claims against the estate. On average, probate could take a year or more. To alleviate your stress throughout the New Jersey probate process, we’ve created a guide to all things probate — and a solution to advance your inheritance!

Probate Process In New Jersey

The probate process has several steps and can be drawn out and complicated. All these steps need to be completed before the heirs can get the money their loved one wanted them to have.

First, the executor of the will is appointed. This person has special responsibilities during the probate process, including:

• Validating the will (if there is one).
• Distributing the assets to the heirs.
• Taking an inventory of and collecting the decedent’s assets.
• Paying the decedent’s expenses.
• Issuing a notice of death to the creditors.

In New Jersey, you can file probate no sooner than 10 days after the person’s death. There is no official deadline for how long after their death you can file, but many families try to start the process as soon as possible. To file for probate, you’ll need the original will, a certified copy of the death certificate and contact information for the decedent’s next of kin.

When filing probate in New Jersey, consider the state’s inheritance and estate tax laws. Although New Jersey got rid of its estate tax in 2018, they are one of few states to enforce an inheritance tax. The inheritance tax applies to close family relatives or friends of the deceased with an inheritance greater than $25,000. As of 2022, a federal estate tax is imposed on estates worth more than $12.06 million.

Is Probate Required in New Jersey?

Yes, probate is required in New Jersey, but the process can look different for everyone. Based on the existence of a valid will, the size of the estate and the types of assets, you can make the probate process work for you. For example, New Jersey probate law allows any estate worth less than $20,000 to go through a simplified process called summary administration. If your loved one dies without a will, or intestate, you must complete the formal probate process.

How to Determine Next of Kin in New Jersey

If a person dies intestate, the state of New Jersey will decide how to distribute your assets. Since there is no will to say who should get what, the assets will be passed on to the next of kin. In New Jersey, next of kin isn’t just the decedent’s closest relatives but any relative entitled to a share.

New Jersey law has a statute of descent and distribution to define which next of kin receives assets. Next of kin in New Jersey are:

1. Spouse
2. Children
3. Parents
4. Grandparents
5. Aunts and uncles
6. Stepchildren

The people eligible for an inheritance and what they receive depends on who survives the decedent. Here is what you need to know about New Jersey’s inheritance structure:

• If your spouse dies without a will, the New Jersey probate court’s laws ensure your inheritance. When spouses are the only heirs, they are guaranteed the entire estate.
• If the spouse and children survive, all the children are the spouse’s children and there are no other surviving decedents, the spouse gets the entire estate.
• Once surviving parents are involved, spouses receive at least 25% of the estate and three-quarters of the balance, and the parents receive the rest.
• If the spouse and children survive, all the children are the spouse’s children, and the spouse has surviving descendants that are not next of kin to the decedent, the spouse gets the first 25% and half the balance. The descendants inherit everything else.
• If the decedent’s parents are the only survivors, the estate will be distributed to the parents equally. If only one parent survives, they receive the entire estate.

Speaking with your probate attorney can help you obtain the proper inheritance, even without a will.

How Long Does Probate Take in New Jersey?

There is no set timeline for the probate process in New Jersey. Various factors that affect the length, including:

• The estate’s complexity.
• Whether there is a will.
• Disputes between heirs.
• If any heirs contest the will.

Simple and straightforward estates can take a matter of months, but this shorter timeline shouldn’t be expected for all estates. New Jersey has a simplified probate process if there is no will and the estate is small. This process is only approved for estates meeting these qualifications:

• The estate’s value is less than $20,000.
• The surviving spouse is given all the assets, or there is no living partner.
• An heir files with the court to receive all the assets, and the other heirs have provided written consent.

Issues with the will or the probate case can cause complex and large estates to take a year or more to get through the probate process.

The key problem with the probate process in New Jersey is that it can take months — if not years — to complete. The average estate in the US takes a full year and a half to finally distribute the inheritance money to the heirs. At Inheritance Funding, we believe that you deserve to get your inheritance when you need it. Having a rightful inheritance blocked for years by a legal process can prove very frustrating.

How Much Does New Jersey Probate Cost?

The cost of probate in New Jersey is not a flat fee — it depends on many factors, including:

• Whether a probate attorney was necessary.
• The type of estate plan, if one was used.
• Complexity and size of the estate.
• Heirs who contest the will.

The most common costs you can get during a probate case include:

• Court fees
• Filing fees
• Attorney fees
• Surety bonds if the executor is out of state
• Personal representative compensation
• Professional fees
• Probate fees

The estate pays for all of the costs the probate case incurs during the process. Heirs don’t have to cover probate costs themselves. However, the amount of money each heir will get at the end of probate will be less than the inheritance’s initial value.

How to Avoid Probate in New Jersey

Families filing probate in New Jersey can easily become frustrated by the legal procedure. For most, the easiest way to avoid it altogether is to prepare your assets before your loved one’s passing. Assets that have joint ownership or are placed in revocable living trusts are not subject to probate.

If you’re unable to prepare these accounts, you still have options. Though probate is inevitable, Inheritance Funding Company (IFC) can help your family get what you need with an inheritance advance! Our cash advances allow heirs to receive their designated inheritance while the probate case is still open. We collaborate with New Jersey probate courts so you can be done with the process before it ends.

Access Your Inheritance In New Jersey Immediately

With an inheritance advance from IFC, you can access the money your loved one meant for you to have right away. The process is fast and easy and you decide how much of your inheritance you’d like to receive immediately. Whether you have bills to pay, car payments to make, home improvements, vacation plans, etc. — the money is yours to use however you’d like.

Since our start in 1992, we’ve advanced over $200 million to heirs awaiting their inheritances. Our team has the expertise and size to help you immediately. Let our friendly staff give you a free, no-obligation consultation. We’re more than happy to walk you through the New Jersey probate process and answer all of your questions regarding New Jersey inheritance. There are no hidden fees, no monthly payments, and credit and income are never an issue. There’s no need to wait years for what’s yours — call us today and access your money right away.