18:26-5.3 Property includible in estate of decedent

TRANSFER INHERITANCE AND ESTATE TAX  
SUBCHAPTER 5. TRANSFERS SUBJECT TO TAX
N.J.A.C. 18:26-5.3 (2014)
§ 18:26-5.3 Property includible in estate of decedent

   (a) Moneys recovered under New Jersey Death Act (N.J.S.A. 2A:31-1 et seq.).

1. Any sum recovered under the New Jersey Death Act representing damages sustained by a decedent between the date of injury and date of death, such as the expenses of care, nursing, medical attendance, hospital and other charges incident to the injury, including loss of earnings and pain and suffering are to be included in the decedent's estate.

2. Where an action is instituted under the New Jersey Death Act and terminates through settlement by a compromise payment without designating the amount to be paid under each count, the amount so recovered is first applied toward the payment of funeral expenses, the expenses of care, nursing, medical attendance, hospital and other proper charges incident to the injury and is includible in the estate of the decedent.

(b) Unpaid dividends--Stock, which on the date of death is quoted "exdividends" or "dividends" payable to the holder of record on the date prior to the date of death, constitute a part of the estate and are to be included in a decedent's estate.

(c) Accrued unpaid income--The amount of any accrued unpaid income on mineral and oil deeds or leases as of the date of death is considered an asset of the estate of a New Jersey decedent and includible in the estate.