When you die without a will in New Jersey and have a currently living spouse, your spouse will inherit at least the first 25% of the estate, and not less than $50,000, according to State of New Jersey intestacy laws. The total amount they get depends on whether the deceased person has parents and how many descendants the deceased has. If you have no parents or descendants, the spouse will inherit all of your estate’s assets.
Spouses will also inherit everything if you have a spouse and descendants from you and that spouse, with the spouse having no other additional descendants. But if you die with parents and no descendants in addition to your spouse, your surviving spouse inherits the first 25% of the estate as long as it’s not less than $50,000 or more than $200,000, plus 3/4 of the remaining balance. However, if you die with children or other descendants from you and the surviving spouse and the surviving spouse also has descendants from previous relationships, your surviving spouse inherits the first 25% of the estate as long as it’s not less than $50,000 or more than $200,000, plus 1/2 of the remaining balance. If you die with only descendants who are not descendants of the surviving spouse, the spouse once again inherits the first 25% of the estate as long as it’s not less than $50,000 or more than $200,000, plus 1/2 of the remaining balance.
However intestacy laws determine how your estate should be passed on, estate administrators will likely have to obtain estate surety bonds to protect the interests of the estate and its beneficiaries.
Where can you instantly purchase an estate surety bond?
Colonial Surety offers the direct and digital way to obtain estate bonds, also known as executor bonds, administrator bonds, personal representative bonds, and probate bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!