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Irwin Law
Irwin Law, Attorney
Category: Estate Law
Satisfied Customers: 6851
Experience:  30+ yrs. handling probate estate, wills, trust, inheritance & real estate related matters
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My dad had stock in PSE&G. He recently passed away. Do I need

Customer Question

My dad had stock in PSE&G. He recently passed away. Do I need a tax waiver to transfer the stock to me and my brother's names? It says on New Jersey Department of Treasury that a tax waiver is not needed for bonds or stock of a New Jersey Corporation in the name of one court appointed fiduciary as executor?
Submitted: 7 months ago.
Category: Estate Law
Expert:  Irwin Law replied 7 months ago.
a New Jersey Corporation in the name of one court appointed fiduciary as executor?What this means is that if you have a court appointed executor of the decedent's estate, they will not require a tax waiver to transfer the stock from the estate to the beneficiaries. I'm not quite sure what the reasoning for that is unless they are confident that the estate will pay any New Jersey inheritance or estate tax that is assessed by reason of that stock. To clarify further, you should call the transfer agent for PSE&NG. They can tell you what they need from the state taxing authorities in order to transfer the stock to the beneficiaries. I hope that this is helpful and that you will enter a positive rating for this answer.

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