Consider the following hypothetical case. A parent dies, in 2023, leaving all his money to his daughter in the state of New Jersey. His sole assets are two brokerage account worth 2 million dollars each.
Here are my claims:
- There is no estate tax or inheritance tax due to New Jersey on the estate.
- Two copies of form L-8 needed to be filled out. One for each brokerage account.
Who is required by law to file out form L-8? Is it the broker?
If the assets are inside a living revocable trust would that get rid of the requirement to file form L-8?