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Know what to look for when reviewing an estate plan

There are many factors that must be considered when you are trying to handle your parent's estate when they pass away. Since it was your parent who passed away, you are considered a Class A beneficiary. This plays an important role in how the estate is handled, particularly for tax purposes.

As you go through your parent's estate, you will have to determine what taxes need to be paid. You don't have to worry about the New Jersey estate tax, since it was repealed starting this year. You may have to pay the federal estate tax if the estate is worth more than $11.18 million. Since you are a Class A beneficiary, you won't have to worry about the New Jersey inheritance tax either.

We realize that your parent's estate is more than just a tax question. You will need to make sure that you find the assets that are part of the estate so that they can be distributed according to the wishes of your parent.

There are some instances in which the estate will have bills to pay. These have to be handled in accordance with the applicable laws. We can help you to learn about what bills must be paid and in what order. By taking a look at your case, we can try to unearth anything that might need to be handled.

The time after the death of your parent's death is a trying time. We will try to make this process as easy as possible on you so that you can continue to grieve and figure out how to move forward after the death.

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