New Jersey Statutes 3B:8-6. Other property to be included in augmented estate
Terms Used In New Jersey Statutes 3B:8-6
- Decedent: A deceased person.
- Domestic partner: means a domestic partner as defined in section 3 of P. See New Jersey Statutes 3B:1-1
- Estate: means all of the property of a decedent, minor or incapacitated individual, trust or other person whose affairs are subject to this title as the property is originally constituted and as it exists from time to time during administration. See New Jersey Statutes 3B:1-1
- Intestate: Dying without leaving a will.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- Testate: To die leaving a will.
There shall also be included in the augmented estate:
a. The value of property owned by the surviving spouse or domestic partner at the time of, or as a result of, the decedent‘s death to the extent that the property is derived from the decedent by means other than by testate or intestate succession without a full consideration in money or money’s worth; and
b. The value of the property described in subsection a. hereof which has been transferred by the surviving spouse or domestic partner at any time during marriage or domestic partnership without a full consideration in money or money’s worth to any person other than the decedent which would have been includable in the spouse’s or domestic partner’s augmented estate if the surviving spouse or domestic partner had predeceased the decedent.
Income earned by included property prior to the decedent’s death is not treated as property derived from the decedent.
Amended 2005, c.331, s.11.