NJ Inheritance Return Forms Revised

New Jersey has had a Transfer Inheritance Tax for many years. There is no
Inheritance Tax if property in going solely to spouse, children, grandchildren. However,
an Inheritance Tax aiver must !e o!tained on all real estate. "our attorney will
prepare the Inheritance Tax Returns or #$% Resident &ecedent 'ffidavit Re(uesting
Real )roperty Tax aiver Form. 'fter the tax waiver is o!tained, your attorney needs
to file with the *ounty *ler+.
*urrently, the law imposes a graduated Transfer Inheritance Tax ranging from
,,- to ,.- on the transfer of real and personal property with a value of /011.11 or
more to certain !eneficiaries. The NJ Inheritance Tax Return was revised in Fe!ruary,
2113. The #$% Resident &ecedent 'ffidavit Re(uesting Real )roperty Tax aiver Form
was revised in 2114. There is a NJ 5state Tax on all estates over /.40,111.
' Transfer Inheritance Tax Return must !e filed and the tax paid on the transfer
of real and personal property within eight months after the death of either6
' R57I&5NT decedent for the transfer of real or tangi!le personal property located in
New Jersey or intangi!le personal property wherever situated, or
' N8NR57I&5NT decedent for the transfer of real or tangi!le personal property
located in New Jersey. No tax is imposed on nonresident decedents for real property
located outside of New Jersey and intangi!le personal property wherever situated.