Thanks for that. New Jersey IS one of the few states that still has an inheritance tax....If your mother left assets
with a gross value of more than $675,000, the executor will have to file a New Jersey estate tax return
. ...New Jersey has two types of estate tax returns; a simplified form for estates that don’t also have to file a federal estate tax return, (estates of less than $5,450,000) and a regular estate tax return for larger estates....The fee/taxes are paid from estate assets. YOU will likely need to hire a CPA or other tax preparer
with experience preparing NJ estate returns (and federal estate tax returns as well, if the estate is valued at more that $5,450,000)...The level of tax paid depends on beneficiary
"class." You (as a direct descendant) are a class A beneficiary. This means that you will have no tax....See this, from NJ Dept of Treasury: (I'll underline the pertinent part)..."The Transfer Inheritance Tax rates
depend on the amount received and the relationship between the decedent and the beneficiary. No tax is imposed on class A beneficiaries (father, mother, grandparents, descendants, spouses, civil union partners, or domestic partners). Class C beneficiaries (brother or sister of decedent; husband, wife, or widow(er) of a child
of decedent; civil union partner or surviving civil union partner of a child of decedent) are taxed at 11%–16%, with the first $25,000 exempt
. Class D beneficiaries (not otherwise classified) are taxed at 15%–16%, with no tax on transfers having an aggregate value of less than $500. Charitable institutions are exempt from tax."