Kenneth Vercammen, Esq is Chair of the ABA Elder Law Committee and presents seminars to attorneys and the public on Wills, Probate and other legal topics related to Estate Planning and Elder law. He is author of the ABA's book "Wills and Estate Administration. Kenneth Vercammen & Associates,
2053 Woodbridge Avenue - Edison, NJ 08817
(732) 572-0500 More information at www.njlaws.com/

Sunday, January 21, 2007

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.
2053 Woodbridge Ave.
Edison, NJ 08817
732-572-0500
kenvnjlaws@comcast.net