QUESTION
Is it necessary to have estate waivers prior to transferring over monthly income/wages from business partnership?
Asked on Dec 01st, 2015 on Estate Planning - New Jersey
More details to this question:
Family member deceased since may 2014 has been getting monthly checks deposited in estate account and we have paid income taxes for 2014 and 2015 we would like to start having checks paid to benefactors as of January 1 2016 to avoid having to file yet another personal tax statement . estate and inheritance taxes are paid just waiting on waivers
1 ANSWER
2 Awards
you do not have to wait for the waivers, but before you pay out anything from the estate, get each recipient to sign a release that they have been paid. The release can be found on the State Judiciary website. this is proof that you have done your job as the person in chrage of the estate.
Answered on Dec 03rd, 2015 at 5:57 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship