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J Burns J Burns is offline
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Default Wills: "Pay all medical expenses" boiler plate?

On 5/14/15 7:53 PM, dpb wrote:
On 05/14/2015 5:44 PM, J Burns wrote:
On 5/14/15 6:06 PM, trader_4 wrote:

...

NJ? It's that everywhere. How could you possibly file an
inheritance tax return or anything to do with the disposition
of the assets of the estate, until you know the amount of all
the outstanding debts?

Medical expenses can be especially complicated. A payment under the New
Jersey Death act for medical and similar expenses is added to the
estate. A judgment may be awarded without specifying the amount.
Anything paid by no-fault insurance must be subtracted from medical
expenses. Whatever was paid or reimbursed by Medicare or other medical
insurance cannot be deducted. Whatever was paid before death cannot be
deducted.

It sounds like a lot for a lawyer to sort out, so the boilerplate tells
the executioner to get on the stick.


The "executioner" has already done his part...else't there wouldn't be
no estate.

What do you mean by an "inheritance" tax return, anyway, specifically?
An inheritance isn't taxable. You mean the final estate return?


http://www.state.nj.us/treasury/taxation/pdf/other_forms/inheritance/itrbk.pdf