How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29778
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

In New a P.O. D. Account outside the dead persons

Customer Question

In New a P.O. D. Account outside the dead persons estate? For taxes upon death in new jersey
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

NJ taxing authorities reported on this page

Exemptions From Transfer Inheritance Tax

  • All transfers having an aggregate value under $500;
  • Life insurance proceeds paid to a named beneficiary;
  • Charitable transfers for the use of any educational institution, church, hospital, orphan asylum, public library, etc.;
  • Transfers for public purposes made to New Jersey or any political subdivision thereof;
  • Federal civil service retirement benefits payable to a beneficiary other than the estate, executor, or administrator;
  • Annuities payable to survivors of military retirees; and
  • Qualified employment annuities paid to a surviving spouse, civil union partner, or domestic partner.

So far banking and investment accounts with POD provision are NOT excluded.

Expert:  Lev replied 1 year ago.

I appreciate if take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.
I am here to help you will all tax related issues.