Estate Law

Estate Law Questions? Ask an Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Estate Law

In NJ does a bank have to wait for approval from the Sate

Customer Question
before releasing assets to a...
in NJ does a bank have to wait for approval from the Sate before releasing assets to a Class A beneficiary? The assets' value is below the exemption amount.
JA: What documents or supporting evidence do you have?
Customer: The L-8 and an asset valuation report from the brokerage firm.
JA: Anything else you want the lawyer to know before I connect you?
Customer: The assets were in a grantor's revocable trust. The grantor died in June 2017.
Submitted: 3 months ago.Category: Estate Law
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 4 minutes by:
7/26/2017
Estate Lawyer: Law Educator, Esq., Attorney replied 3 months ago
Law Educator, Esq.
Category: Estate Law
Satisfied Customers: 119,576
Experience: Experienced in Trust and Succession Law, including Louisiana Laws
Verified
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
The bank needs proper documentation from the surrogate/probate court to release the funds to the beneficiaries. So, you must provide proof to the bank of the proper beneficiaries and if the grantor had listed the beneficiary on the trust as a beneficiary, then probate is not required, just a copy of the trust documents from the trustee or successor trustee to prove the beneficiary is the legal heir entitled to the funds. It is not necessarily approval from the state, it is approval either from probate court naming the beneficiaries or proof of the trust documents naming the person as beneficiary of the trust.
Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.
Ask Your Own Estate Law Question
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Estate Law
Satisfied Customers: 119,576
119,576 Satisfied Customers
Experience: Experienced in Trust and Succession Law, including Louisiana Laws

Law Educator, Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,414 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

5,061 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,015 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,839 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

1,451 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Attorney

1,162 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Estate Law Questions
Hadavi... Can the heir I lend to use the property he is
Roy Hadavi... Can the heir I lend to use the property he is inheriting as security for the loan I make to him?… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
896 satisfied customers
My bank claims that I cannot designate an heir to receive
My bank claims that I cannot designate an heir to receive the contents of the safe deposit box, what is the best method to ensure that the next of kin would be guaranteed the contents in the event of … read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
119,576 satisfied customers
I am the executor and the sole heir to my grandmothers
I am the executor and the sole heir to my grandmothers estate in Salisbury, NC. I have to file a "final accounting " on Tuesday and need help. All she had to leave to me was her house and an old car. … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
Heir property inherited from grandparents and parents. All
heir property inherited from grandparents and parents. All had wills. The property is split 75% for my brother and 25% for myself. at this time he is incapacitated, what rights does his wife have with… read more
ScottyMacEsq
ScottyMacEsq
Attorney
Doctoral Degree
1,162 satisfied customers
I am an heir in an estate that is being probated in the
I am an heir in an estate that is being probated in the state of Oregon under the laws of intestate. The personal representative is now saying she wants to close out the estate and make the distributi… read more
jb156200
jb156200
Associate Attorney
Doctoral Degree
416 satisfied customers
On a petition to probate a will if addresses and counties
On a petition to probate a will if addresses and counties are incorrect is that Anything to look into?… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
My aunt is sole heir on her brothers estate we have been
My aunt is sole heir on her brothers estate we have been wondering if it is easier to just leave the house in her brothers name rather than going through probate, which can be very expensive, the hous… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
896 satisfied customers
I am the sole heir for my mother's estate, the Executor for
I am the sole heir for my mother's estate, the Executor for her will, and the Trustee for the Trust her estate is in. The main item in the Estate is a Co-Op apartment. Because the Trust means there wi… read more
jb156200
jb156200
Associate Attorney
Doctoral Degree
416 satisfied customers
Is a federal law y. Is there a federal that forces the heirs
is there a federal that forces the heirs of a trust to be paid fifteen percent? I was just told this by someone who said they were able to force their father to pay them fifteen percent of his portion of the trust, despite his father, as trustee, choosing to not distribute until after his death? … read more
jb156200
jb156200
Associate Attorney
Doctoral Degree
416 satisfied customers
If a person does not specifically name persons as heirs in
If a person does not specifically name persons as heirs in their will, how is it … read more
Marsha411JD
Marsha411JD
Doctoral Degree
20,096 satisfied customers
FOR LEGAL ADVICE CONCERNING HEIR PROPERTY IN MARYLAND THAT
I AM LOOKING FOR LEGAL ADVICE CONCERNING HEIR PROPERTY IN MARYLAND THAT IS INTESTATE. MY GREAT-GRANDFATHER BOUGHT IT DECADES AGO … read more
Michael Bradley
Michael Bradley
JD
1,131 satisfied customers
My husband is an heir to the property we are currently
My husband is an heir to the property we are currently living in. The administrator of estate has scheduled appraisal for today at 10 a.m however my grandmother just passed away and we are not able to… read more
ScottyMacEsq
ScottyMacEsq
Attorney
Doctoral Degree
1,162 satisfied customers
Should heirs named in a will get inventories of estate, Wv,
Should heirs named in a will get inventories of estate … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
There are 4 heirs no will 3 brothers signed waiver stating
There are 4 heirs no will 3 brothers signed waiver stating "waives service of Notice of Administration" to assign sister PR. One waiver listed a brother as dead because deceased was a jr. son is the I… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
My wife is an heir in a Horry County will that will soon be
My wife is an heir in a Horry County will that will soon be probated. We do not trust the personal representative to dispose of all the assets in an open manner. We wish to see a full accounting of al… read more
Expert James
Expert James
Doctoral Degree
11,537 satisfied customers
As executor and sole heir of an estate, in New York State,
As executor and sole heir of an estate, in New York State, what is the process after the person has died? … read more
Dwayne B.
Dwayne B.
Juris Doctor
28,499 satisfied customers
There are 8 heirs to my mother's estate. if one of the heirs
There are 8 heirs to my mother's estate. if one of the heirs pays the taxes on her properties do those properties become his? … read more
RobertJDFL
RobertJDFL
Attorney
Juris Doctorate
1,451 satisfied customers
If a house is heir property. No will, haven't been probate
hi If a house is heir property. No will , haven't been probate she died 20 years ago. one of her son been living in the house for 20 years. He still occupies it. Can the others heirs move in? The hous… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,061 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x