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RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 37044
Experience:  Texas lawyer for 30 years in Estate law
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Mr. X purchased a property as trustee he passed away without

Customer Question

Mr. X purchased a property as trustee he passed away without a will and never discussed the transaction with anyone, there is no record of a trust. The property is located in New Jersey mr. X resided in New Jersey
Submitted: 8 months ago.
Category: Estate Law
Expert:  RayAnswers replied 8 months ago.
Hi and welcome to JA. Ray here to help you tonight. You would need to make application for probate.The house and other assets of the estate pass through the laws of intestacy ( no will).You would need the judge to rule there was no trust and that this property is part of the estate. Here are the laws of intestacy. If you die with:here’s what happens:children but no spousechildren inherit everythingspouse but no descendants or parentsspouse inherits everythingspouse and descendants from you and that spouse, and the spouse has no other descendantsspouse inherits everythingspouse and descendants from you and that spouse, and the spouse has descendants from another relationshipspouse inherits the first 25% of your intestate property (but not less than $50,000 or more than $200,000), plus 1/2 of the balanceyour descendants inherit everything elsespouse and descendants from you and someone other than that spousespouse inherits the first 25% of your intestate property (but not less than $50,000 or more than $200,000), plus 1/2 of the balancedescendants inherit everything elsespouse and parentsspouse inherits the first 25% of your intestate property (but not less than $50,000 or more than $200,000), plus 3/4 of the balanceparents inherit remaining intestate propertyparents but no spouse or descendantsparents inherit everythingsiblings but no spouse, descendants, or parentssiblings inherit everythingMore about intestate probate. http://www.bergencountysurrogate.com/intestacy.pdf I appreciate the chance to help you tonight.Thanks again. Probate lawyer here http://www.lawyers.com/wills-and-probate/new-jersey/find-law-firms-by-city/
Expert:  RayAnswers replied 8 months ago.
If you can positive rate it is much appreciated.
Customer: replied 8 months ago.
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Customer: replied 8 months ago.
Mr X was survived by his wife and two children that they had together no other the descendants from either him or his wife.
Being that it's real property no name of the trust or other record of the trust is available do we still have to go to Probate Court
Customer: replied 8 months ago.
The deed was dated in 1932 nothing was ever done since
Expert:  RayAnswers replied 8 months ago.
You would here because the land is titled to the trust--no trust document , no trustee so it has to go through probate.IK see no way around it since you do not have the trust.You need to have court rule that it belongs to the estate here , then personal representative can deed it to heirs or sell it with court approval. Thanks again for letting me follow up.
Customer: replied 8 months ago.
Is there case law showing that if trust documents are missing whatever created the trustee is assumed to be the owner?
Customer: replied 8 months ago.
I meant to say or never created the trustee and his hair is considered to be the owner? Or one can argue that the sale is void and the property is returned to the seller
Expert:  RayAnswers replied 8 months ago.
No the property here would likely pass through his estate.If there is no trust document it passes to his estate.And if you are the wife you may have a marital interest claim as well.So he may only own half , you would have half.His half passes under laws of intestacy above. Thanks for the follow up.
Customer: replied 8 months ago.
Thanks
Expert:  RayAnswers replied 8 months ago.
If you can positive rate it is always much appreciated.
Customer: replied 8 months ago.
Anything on this matter in the Statue or case law?
Expert:  RayAnswers replied 8 months ago.
Here is the law on intestate probate here since there is no trust that has been found.. egular ProbateProbate in New Jersey is handled by the surrogate’s court inthe county in which the deceased person lived. If all goes smoothly, the process should take less than a year.Appointment of an Executor or AdministratorIf the deceased person named you to serve as executor in hisor her will, and probate is necessary, you will go to the surrogate’s court andrequest to be formally appointed as executor of the estate. This can happen assoon as 10 days after the death. You’ll need to supply the will and a certifiedcopy of the death certificate. If the will isn’t “self-proving,” one of the twowitnesses who watched the deceased person sign it and signed the willthemselves must appear I court (or submit a sworn statement) as well. If there is no will, or the person named in the will isn’tavailable or willing to serve, the probate court will appoint an “administrator.”This person does the same job as an executor. New Jersey law gives thesurviving spouse or domestic partner, if any, first priority to be appointed asadministrator.An executor or administrator who is not a resident of NewJersey must post a bond, unless the will states that it’s not necessary. A bondis a kind of insurance policy that protects the estate if the executor oradministrator mismanages or steals estate funds.Unless there is reason to think the will is not valid, orsomeone is contesting the will in court (this is called a “will caveat”), thesurrogate’s court will issue a document called “Letters Testamentary” (if theexecutor was named in the will) or “Letters of Administration” (if the courtappoints an administrator). This document gives the executor or administrator theduty and authority to:collect and inventory the deceased person's assets,and keep them safehave the assets professionally appraised, ifnecessarypay valid debts and taxes, anddistribute the remaining property as the will(or if there's no will, state law) directs.Within 60 days after a will is admitted to probate, the executoror administrator must mail notice of the proceeding to all heirs (people whoinherit under state law in the absence of a will) and beneficiaries named inthe will.An executor or administratoris entitled to compensation, called a commission, for the work of settling theestate. The commission is 6% of income received by the estate plus 5% of thevalue of the gross estate for estates up to $200,000.00, 3.5% on the excessabove $200,000 to $1 million, and 2% on amounts over $1 million. (New Jersey Statutes §§ 3B:18-13 and -14.)
Expert:  RayAnswers replied 8 months ago.
Thanks again and good luck here in Surrogate Court.Thanks again, it is unfortunate the trust was lost here.No way around probate I am afraid.