Call To Schedule An Appointment
Cherry Hill856-673-0048

New Jersey heirs: After you inherit, what's next?

When someone passes away in New Jersey or elsewhere, surviving family members are often left with collections of stamps, furniture and stacks of old magazines that have accumulated over many years. Collectibles can be difficult to sort through for heirs in terms of monetary and sentimental value. However, modern technology can help with inventorying and determining the value of one's inheritance. Nevertheless, deciding which family members receive what is an ongoing problem.

When faced with this problem, the initial task is to create an inventory of items. Taking pictures, getting dimensions and documenting everything are wise first steps. It is important to gather all of the information and centralize it in a single place. Free software and applications enable one to easily complete this task, which can even be accomplished with a smartphone.

Keeping a backup file in a separate place ensures the information will always be available. Once the inventory is created, it can be distributed among the heirs. The heirs should mark an "X" next to the items they are interested in. Possessions with no interest expressed can be sold or donated.

This may be a peaceful and practical solution for New Jersey heirs. Some families have used this method as a way to deal with assets. This system also helps families determine if an item is valuable and makes it easier to assess worth. Once the value of items is determined and all heirs decide what they want, selling or donating the rest may make sense. Ultimately, however, those that make a concerted effort to plan their estate may make it easier for heirs once the time comes to divide up the possessions accumulated.

Source: Huffington Post, "How to divide an inheritance when a relative dies," Mitch Lipka, April 25, 2012

No Comments

Leave a comment
Comment Information
Law Offices of Nancy M. Rice
Representing clients in Ocean City and communities throughout New Jersey.


Rice & Quattrone, PC
1236 Brace Road, Suite F

Phone: 856-673-0048
Fax: 856-673-0052
Map & Directions

Rice & Quattrone, PC
Linwood Professional Plaza
2021 New Road, Unit #9
Linwood, NJ 08221

Phone: 609-398-3447
Fax: 856-673-0052
Map & Directions

Cherry Hill Office

Contact the firm

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy