Father Died Intestate

[holiday8]

My father recently passed away, intestate, in Essex county, NJ. He had around seven thousand dollars in a bank account. My brother sent me a paper which I have to sign and have notarized, as do all my siblings. I understand that, according to surrogate court, my brother should then divide the money amongst all the siblings. Several of my siblings are refusing to sign their papers, saying that my brother will keep the money for himself. My brother says that if everyone doesn't turn in their notarized papers, no one can benefit. Is this true? If so, what will happen to the money, if my brother cannot collect signatures from all concerned?

 

[dee_dub]

There are rules governing the distribution of an estate on intestacy. If you and your siblings are the closest relative, you are probably all entitled to an equal share of the estate. You didn't say what the paper your brother sent you was, but I guess he's applying to be the personal representative of your father's estate, which means he will be obligated to distribute the estate according to the rules. If any sibling doesn't get their fair share, they can apply to court for an order directing your brother to distribute the estate correctly. Alternatively, if there is serious concern he will abscond with the funds, one of your other siblings can apply to be personal representative instead.

 

[holiday8]

Thank you. My other concern, is that he will not get the signatures in a timely manner. The bank has given a deadline of a few months. What will happen if the money is not disbursed? My brother says it will go to the government. Is this true?

 

[dee_dub]

Without knowing what the letter actually says, the way it usually works is that if there is no bank account activity for a long time, the account is inactive and the bank is required to send the funds to the state. I'd be curious about the "few months" deadline - usually the period of inactivity is at least a year.

The state will then hold the funds for several more years to allow the rightful owner - in your case, the estate of your father - a chance to collect it. So your brother is partly right: it goes to the government, but this doesn't mean the estate will lose it.