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Nj Form O 71

Nj Form O 71

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hello and welcome to the canberra camp law office legal podcast this edition we're going to discuss uh the new jersey inheritance tax waiver so what is an inheritance tax waiver well a waiver um means it's written consent by the division of taxation to tr to release and permit the transfer of certain property in the name of the decedent so the waiver is again written uh consent by them because otherwise you know banks can't transfer money unless there's proof that the inheritance tax is paid so typically the attorney for the estate will prepare the inheritance tax return uh new jersey property uh such as uh real estate in new jersey bank accounts etc um you know unless they're uh um you know you know not you know less than a hundred dollars um you know there's there's a need for some type of waiver now if monies are held jointly by by spouses uh we can use a form called the l8 um however when it's not going to spouses or t

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