Elder Law Blog from Price & Price Law in Southern New Jersey

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Posted on January 17, 2019

What is a Tax Waiver?

A tax waiver is a document that shows that taxes have been paid or taxes didn’t have to be paid.  When a tax return is filed with the state then the state will issue tax waivers saying that all of the taxes have been paid or they didn’t have to…

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Posted on January 10, 2019

What is a Personal Representative?

When someone passes away they leave behind their estate.  Since they can no longer manage their estate someone needs to step in and take over.  That person is referred to as a personal representative. The personal representative is the person who administers the decedent’s estate. The personal representative can take…

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Posted on January 3, 2019

What is an Estate Account?

The executor’s job is to collect the assets left behind by the decedent.  Assets held at banks and other financial institutions must be collected and placed in an estate account.  That is the account that holds all of the estate money that is going to be used to pay the…

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Posted on December 28, 2018

What is an Estate Identification Number?

An estate identification number (also called an EIN) is like a social security number for an estate.  This is how the government can keep track of income and assets of the estate for tax purposes (yes, income earned by an estate is subject to income tax).  You will need an…

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Posted on December 20, 2018

What is an Estate?

An estate is all of the money and property a decedent owned at the time of their death. It’s really that simple as far as a definition is concerned.  However, you have to be careful because the value of their estate may be less that you think.  The assets in…

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