what is NJ L8 Inheritance form

L8 Inheritance form: Form L-8 (Affidavit & Self-Executing Waiver) This form may be used in most cases to transfer bank accounts, stocks, bonds and brokerage accounts, when the transfer or release is to a Class "A" beneficiary. You must file this form directly with each bank, financial institution, broker or transfer agent holding the assets. Form L-8 is used instead of a tax waiver (Form 0-1).

However, the Form L-8 cannot be used for:

• The transfer of real estate, or
• Decedents who die after December 31, 2001, but before January 1, 2017, with a taxable estate, plus adjusted taxable gifts, that exceeds $675,000 for Federal Estate Tax purposes under the provisions of the Internal Revenue Code in effect on December 31, 2001.
• Decedents who die on or after January 1, 2017, but before January 1, 2018, with a taxable estate that exceeds $2 million for Federal Estate Tax purposes under the provisions of the Internal Revenue Code in effect on January 1, 2017.

NOTE: If you are qualified and use Form L-8, you will not need or receive a waiver (Form O-1) from the Division.