Affidavit for Non-Real Estate Investments - Resident Decedents {L-8}

(02/18) Form L-8 Affidavit for Non-Real Estate Investments: Resident Decedents Use this form for release of: New Jersey bank accounts; Stock in New Jersey corporations; A (02/18) PART II SUCCESSION: Check the box that shows how the assets pass to the beneficiary. Check Box a if the assets on the form pass directly to the beneficiary by operation of law. This means they were jointly held, POD, or Transfer on Death (TOD). (A copy of the will is not needed); Check Box b if the will states that these specific assets reported on the L-8 form pass to a particular named beneficiary. (Attach a copy of the will); Check Box c if there was no will (intestate) and all the beneficiaries in the entire estate are Class A beneficiaries as listed in Part I; or Check Box c if there was a will (testate), but there were no specific bequests and all the beneficiaries in the entire estate are one of the Class A beneficiaries listed in Part I (attach a copy of the will). Note: If at least one of the boxes does not apply, the L-8 cannot be used to release these assets. PART III TRUSTS/DISCLAIMERS: If any of the assets you wish to release pass into or through a trust, where the trust decides how the assets are distributed, you cannot use the L-8. Trusts can be set up by decedents either in their will, or separately from the will. For the purposes of the L-he/she reaches a specific age. In all other cases, a full return must be filed with the Inheritance Tax Branch, even if the assets all appear to be passing to Class A beneficiaries. NOTE: Assets that are owned by or in the name of a trust do not require a waiver or L-8, but must still be reported on any return filed. PART IV ESTATE TAX: This section determines whether the estate may be required to pay New Jersey Estate Tax. You must be able to answer , or c) to qualify to use this form. If the decedent died on or after January 1, 2017, but before January 1, 2018, his/her entire taxable estate must be under $2 million. If the date of death was before January 1, 2017, the entire taxable estate must be under $675,000. Even if you qualify to use this form, a return is still required if the gross estate is over $675,000. If the decedent died on or after January 1, 2018, then there is no Estate Tax. PART V PROPERTY: List all the assets in this institution for which you are requesting a release. If this is a bank, list each account in this bank separately. may enter If it was Paid on Death (e.g., POD Jane Doe and John Doe). If it was jointly held, enter the name. PART VI BENEFICIARIES: List the name of each beneficiary and his/her relationship to the decedent. The relationship must be one of the Class A beneficiaries listed in Part I of the L-8. NOTE: not correct relations to the decedent in this column. You must use terms such as SIGNATURE: This form is an affidavit and must be signed by the executor, administrator, or beneficiary, and the signature must be notarized. PART VII RELEASING INSTITUTION: A representative of the institution releasing the funds must verify that all questions have been answered and that the beneficiaries reported are allowed per Part I, before signing the form and releasing any assets. If you have any question as to whether you are permitted to release assets, please call the Inheritance Tax general information number at (609) 292-5033 and ask to speak to an Information Section representative. American LegalNet, Inc. www.FormsWorkFlow.com (02/18) Form L-8 Take or send the completed form directly to the bank or other financial institution holding the funds. Do not mail this form to the Division of Taxation. You will not receive a waiver. Name SSN: (Last) (First) (Middle) Date of Death (mm/dd/yy) / / County of Residence Testate (Will) Intestate (No Will) You must answer the following questions: I. ELIGIBLE BENEFICIARIES: Who is receiving the assets listed on the reverse side? Check all that apply: a. Surviving spouse; b. Surviving civil union partner when 2007; c. Surviving domestic partner when 2004; d. Child, stepchild, legally adopted child, or issue of any child or legally adopted child (includes a grandchild and a great grandchild but not a step-grandchild or a step great-grandchild); e. Parent and /or grandparent. Were you able to check at least one of the boxes above? Yes No If othis form may not be used and an Inheritance Tax return must be filed. If ,continue to Part II. II. SUCCESSION: How were the assets received? Check any that apply: a. The beneficiary succeeded to the assets by survivorship or contract; or b. The property was specifically devised to the beneficiary; or c. The property was not specifically devised, but all beneficiaries under the will or intestate heirs-at-law are Class A as described in a. through e. in Part I above. Were you able to check at least one of the boxes above? Yes No If Nothis form may not be used. NOTE: If there are any assets passing to any beneficiary other than a member of the groups listed above, a complete Transfer Inheritance Tax Return must be filed in the normal manner. It must list all assets in the estate, including any which were acquired by means of this form. III. TRUSTS/DISCLAIMERS: Do any portion of the assets listed on the reverse side pass into a trust or pass to the beneficiary as a result of a disclaimer? Yes No If Yes this form may not be used. IV. ESTATE TAX: a. Was on or after January 1, 2018; or b. Was on or after January 1, 2017, but before January 1, 2018, and his/her taxable estate less than $2 million as determined pursuant to Section 2051 of the Internal Revenue Code (I.R.C. 247 2051)*; or c. Was the date of death before January 1, 2017, and is his/her taxable estate plus adjusted taxable gifts $675,000 or less as determined pursuant to the provisions of the Internal Revenue Code in effect on December 31, 2001, (Line 3 plus Line 4 on 2001 Federal Estate Tax Form 706)? Check Yes ,lies. Yes No If No this form may not be used. *While this form may be used if the decedent died on or after January 1, 2017 but before taxable estate is under $2 million pursuant to Section 2051 of the Internal Revenue Code, a return must still be filed if the gross estate is over $2 million. To Be Valid, This Form Must Be Fully Completed On Both Sides American LegalNet, Inc. www.FormsWorkFlow.com (02/18) V. PROPERTY (Bank accounts, Brokerage accounts, Stock, Investment Bonds): A separate affidavit is required for each institution releasing assets. BANK ACCOUNTS/BROKERAGE ACCOUNTS: Must list the full balance as of the date of death. STOCK: BONDS: VI. BENEFICIARIES OF PROPERTIES LISTED IN V. ABOVE: Name(s) of Beneficiary Relation to Decedent (Must be c hecked in Part I) If the decedent died with a will, and the assets listed above pass to the beneficiaries through the will, a complete copy of the last will and testament, codicils, and separate writings must be submitted with this form. I hereby request the release of the property listed in Part V above. I certify that the beneficiaries of said property are listed in Part VI above and that this form is completed in accordance with its filing requirements. State of New Jersey County ofss. being duly sworn, deposes and says that the foregoing statements are true to the best of his/her information or belief. Subscribed and sworn before me this Signature: day of , . Deponent: Executor / Administrator / Joint Tenant / Heir-at-Law Notary Public Street Address Town/City State Zip This Form Must Be Signed by the Releasing Institution Before Mailing to the Division of Taxation VII. To Be Completed by Releasing Institution A bank, trust company, association, other depository, transfer agent, or organization may release the assets herein set forth only if the first, second, and fourth boxes (Parts I, II and IV) on the front of this form are checked YES, the third box (Part III) is checked NO and Part VI includes only those relationships permitted in Part I, items 1 through 5. Also, if the decedent died testate and the assets do not pass by contract or survivorship, a complete copy of the will, separate writing, and all codicils must be attached. The original of this affidavit must be filed by the releasing ins