Monday, October 26, 2020
Thursday, October 22, 2020
Monday, October 19, 2020
What is Inheritance tax waiver?
What is Inheritance tax waiver? What is an Inheritance Tax Waiver A Tax waiver represents the written consent of the Director of the Division of Taxation to transfer or release certain property in the name of a decedent. Typically the attorney for the estate will prepare the Inheritance Tax Return New Jersey property (such as real estate located in NJ, NJ bank and brokerage accounts, stocks of companies incorporated in NJ, and NJ bonds, etc.) cannot be transferred or released without this consent. A separate waiver will be issued for each titled asset. Each waiver will contain specific information about the property (such as: bank name, account balances, and names on the account). The original Waiver on real estate is filed with the County clerk where the property is located. (Typically the Attorney will handle). Example Middlesex County Clerk Re: L-9 Property waiver Estate of _ Dear Middlesex County Clerk: Enclosed herewith please find the following: 1- Inheritance Tax Waiver 2- Check for $15.00 for recording payable Middlesex County Clerk 3. Middlesex County Cover Sheet NJSA 46 26A 5 Would you kindly : [ x ] File and return a filed copy The original waiver must be filed, not a copy. More info at https://www.state.nj.us/treasury/taxation/inheritance-estate/inheritance-waivers.shtml NJ Tax Guide A Guide to Being an Executor Helpful information from the NJ Division of Taxation. What if you are an Executor or Administrator of an estate? You are most likely looking to obtain waivers to release the decedent’s assets, such as NJ bank accounts, NJ stock, and NJ real estate. There are several steps to follow, and a few things you need to know before this can happen. Typically the attorney for the estate will prepare the Inheritance Tax Return. What are the different types of waivers? A self-executing waiver (do-it-yourself) and the 0-1 waiver (issued by the Division of Taxation) are the different types of waivers. New Jersey banks are prohibited from closing a decedent’s bank accounts without one of these forms: Form L-8 Self-Executing Waiver Affidavit can only be used when there is no Inheritance or Estate Taxes due (see below). L-8s are to be filled out by you, as the estate representative. Then they can be sent or brought directly to the bank, transfer agent, or other financial institutions holding the funds. Many banks have these forms on hand, but they can also be obtained on our website.o You do not file anything with the Inheritance and Estate Tax Branch if you qualify to use this form. Form 0-1 is a “waiver” that can only be issued by the Division of Taxation.o To get this form, you must file a return with the Division.o Real Estate transfers always require Form 0-1.o Note: 0-1 is not a form that you will be able to find on our website. This form can only be issued by the Division of Taxation. The original Waiver on real estate is filed with the County clerk. (Typically the Attorney will handle) Are there any Inheritance or Estate Taxes Due? Your next job as Executor/Administrator is to figure out if any Inheritance or Estate taxes will be due. This will determine what forms or returns you will need to file. Besides the Federal estate tax, there are two separate State taxes related to a person’s death: the Inheritance Tax and the Estate Tax. You may owe one, but not the other. You will never pay more than the higher of the two taxes: Inheritance Tax mainly depends on the relationship between the deceased person and the beneficiary. Estate proceeds payable to: Surviving spouses, parents, children, grandchildren, etc. are exempt from Inheritance Tax. These are Class A beneficiaries. Brothers and sisters and children-in-law are subject to tax after built-in exemptions. These are Class C beneficiaries. Nieces, nephews, aunts, uncles, friends, and non-relatives are subject to Inheritance Tax. These are Class D beneficiaries. Charitable institutions are exempt from Inheritance Tax. These are Class E beneficiaries. If it turns out that Inheritance Tax may be due, the Inheritance Tax Resident Return (Form IT-R) needs to be filed. Any tax must be paid within eight months after the date of death or you will incur a 10% annual interest charge on unpaid tax. Sometimes, a return needs to be filed even if there might not be any tax due. If there are any Class C, D, or E beneficiaries, you will need to file a full return. . Source https://www.state.nj.us/treasury/taxation/documents/pdf/guides/General-%20Guide-to-Being-an-Executor
Tuesday, October 13, 2020
What are Release and Refunding Bonds?.mov
What are Release and Refunding Bonds Under New Jersey law it is the duty of the fiduciary [Executor or Administrator] to make arrangements to pay bills and other estate expenses and carry out instructions under the Will. NJSA 3B: 23-24 provides the fiduciary shall take a Release and Refunding Bond from each beneficiary. Our law office will prepare and mail the Executor draft Release and Refunding Bonds. The Executor should type up an informal accounting to show assets of the estate, the expenses and amounts each beneficiary will receive. To make things easy, the Executor can attach a copy of your checkbook register. When the estate is finished and ready to disburse money, the Executor will determine the amount each will receive. The Release and Refunding Bonds are revised to indicate the specific amount the person will receive. Every beneficiary will need to sign his or her Release and Refunding Bond in front of an attorney or notary. If any beneficiary does not sign their release and refunding bond, then the estate funds cannot be distributed to anyone until approved by the Superior Court. An Accounting and Court approval under Rule 4:87-1 would take many months. We are requesting all beneficiaries to immediately make arrangements to sign the Release and Refunding Bond and return it to my office. Please also note under New Jersey law each beneficiary must certify they do not owe child support. Each beneficiary must fill out the child support section by hand. The signed Release & Refunding Bonds must be filed with the County Surrogate and small fee paid. If the Surrogate required a Bond, a copy of each filed Release & Refunding Bond must be provided to the bonding company. In the State of New Jersey, it is essential that Executors and Administrators obtain and file with the Surrogate’s Court, either an executed Release or combined Release & Refunding Bond from each beneficiary of the testator’s estate. Once debts and taxes of the state are paid, AND the Executor or Administrator is ready to make final distribution, the Executor or Administrator must have each beneficiary sign a “Release & Refunding Bond.” By executing a Refunding Bond, the beneficiary is agreeing that, in the event the assets distributed to him or her are needed at a later time to pay any debt of the estate, the beneficiary will then return part or all of the assets needed to pay estate debts. This provides the Executor or Administrator with security in the unlikely event claims are subsequently made against the estate. The release is proof that the Executor or Administrator has made distribution and that the beneficiary has received his or her bequest or distributive share. Source http://www.bergencountysurrogate.com/refundingbond&releaseforms.pdf REFUNDING BOND AND RELEASE By statute (N.J.S.A. 3B: 23-24) an Executor or Administrator is required on paying a beneficiary his/her share of the estate, to take a Refunding Bond and Release from the beneficiary and to file the bond in the Surrogate’s Court. The statute requires that the Refunding Bond and Release be in the amount or value of the beneficiary’s share of the estate. The Refunding Bond and Release must be signed by the beneficiary before a Notary Public or attorney. If the beneficiary is a minor or incapacitated person, the Refunding Bond and Release must be signed by the guardian of the property. The Refunding Bond and Release has a dual purpose: Refunding – To refund to the Executor or Administrator out of his/her share of the estate his ratable part of any unpaid debts, owed by the testator or intestate, if there are no other assets to pay them. Source http://www.mercercounty.org/government/county-surrogate/refunding-bond-and-release Release - To discharge the Executor or Administrator of an estate of his/her duties upon distribution to the beneficiary of his/her share of the estate. In an Administration that required a Surety Bond, the Administrator must request a Certificate of Release from the Surrogate at the time he/she files the Refunding Bond and Release. A Surety Bond will not be cancelled by the insurance agent unless the Certificate of Release is presented to the agent. It is necessary to file the completed Refunding Bond and Release from each beneficiary of the estate with the Surrogate’s Court. The statutory fee for filing is $ 10.00 per bond and $ 5.00 for the Certificate of Release. The Refunding Bond and Release can be found on this Web Site. Your attorney also will provide you with a Refunding Bond and Release upon request or prepare the Refunding Bond and Release for you. Source http://www.mercercounty.org/government/county-surrogate/refunding-bond-and-release
What is Self Defense
What is Self Defense
What is Self Defense
Defense to assault self-defense
JUSTIFICATION SELF DEFENSE
(N.J.S.A. 2C:3 4)
In a Jury Trial, the Judge will give an outline of the law and how to determine the facts. These are called Jury charges. We find it is a good idea to provide clients with an outline of the law at the beginning of their case and prior to a trial. The same law applies in Municipal Court trials.
The defendant contends that if the State proves he/she used or threatened to use force upon the other person(s), that such force was justifiably used for his/her self-protection.
The self-defense statute reads:
"The use of force upon or toward another person is justifiable when the actor reasonably believes that such force is immediately necessary for the purpose of protecting himself against the use of unlawful force by such other person on the present occasion."
In other words, self defense is the right of a person to defend against any unlawful force. Self defense is also the right of a person to defend against seriously threatened unlawful force that is actually pending or reasonably anticipated. When a person is in imminent danger of bodily harm, the person has the right to use force or even deadly force when that force is necessary to prevent the use against him/her of unlawful force. The force used by the defendant must not be significantly greater than and must be proportionate to the unlawful force threatened or used against the defendant.
Unlawful force is defined as force used against a person without the person's consent in such a way that the action would be a civil wrong or a criminal offense.
If the force used by the defendant was not immediately necessary for the defendant's protection or if the force used by the defendant was disproportionate in its intensity, then the use of such force by the defendant was not justified and the self defense claim fails.
There are different levels of force that a person may use in his/her own defense to prevent unlawful harm.
The defendant can only use that amount or degree of force that he/she reasonably believes is necessary to protect himself/herself against harm. If the defendant is attempting to protect himself/herself against exposure to death or the substantial danger of serious bodily harm, he/she may resort to the use of deadly force. Otherwise, he/she may only resort to non deadly force.
Non Deadly Force
A person may also use non deadly force in his/her own defense. If you find that this defendant did use non deadly force to defend himself/herself, then you must determine whether that force was justified.
A person may use non deadly force to protect himself/herself if the following conditions exist:
1. The person reasonably believes he/she must use force and
2. The person reasonably believes that the use of force was immediately necessary and
3. The person reasonably believes he/she is using force to defend himself/herself against unlawful force, and
4. The person reasonably believes that the level of the intensity of the force he/she uses is proportionate to the unlawful force he/she is attempting to defend against.
Remember, only if you conclude that in using force or deadly force the defendant reasonably believed he/she was defending against unlawful force is the defense available to him/her.
Burden of Proof
The State has the burden to prove to you beyond a reasonable doubt that the defense of self defense is untrue. This defense only applies if all the conditions or elements previously described exist. The defense must be rejected if the State disproves any of the conditions beyond a reasonable doubt.
The same theory applies to the issue of retreat. Remember that the obligation of the defendant to retreat only arises if you find that the defendant resorts to the use of deadly force. If the defendant does not resort to the use of deadly force, one who is unlawfully attacked may hold his/her position and not retreat whether the attack upon him/her is by deadly force or some lesser force.
The burden of proof is upon the State to prove beyond a reasonable doubt that the defendant knew he/she could have retreated with complete safety. If the State carries its burden then you must disallow the defense. If the State does not satisfy this burden and you do have a reasonable doubt, then it must be resolved in favor of the defendant and you must allow the claim of self defense and acquit the defendant.
Simple assault in a fight by mutual consent
Simple assault is a disorderly persons offense unless committed in a fight or scuffle entered into by mutual consent, in which case it is a petty disorderly persons offense.
The defense attorney must serve a NOTICE OF SPECIFIC CRIMINAL CODE DEFENSES PURSUANT TO Rule 3:12Failure to give Miranda warnings is not a defense.
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