NJ Executor Guide
The Executor’s First Week: Download Everything
Almost every painful hour later in an estate traces back to a document that was easy to get in month one and hard to get in month nine.
Why the clock is against you
Banks and brokerages typically keep only a limited window of statements available for self-service download — often a year or two. Records older than that usually still exist, but getting them turns into a request, a hold time, sometimes a fee, and always a delay.
Now notice what the New Jersey return actually asks for. Nearly every schedule wants a value fixed at the date of death: the full date-of-death balance of each account, the per-share value of each stock on that day, accrued interest to that day, the mortgage balance on that day. If the death was some months ago by the time you’re reading this, those statements are already aging out of easy reach — and they are the exact ones you cannot substitute.
In the estate I administered, this was the difference between an afternoon of downloads and weeks of chasing institutions for documents I could have had for free with a few clicks.
The download list, taken from the return itself
You don’t have to guess at what you’ll need. The IT-R and its schedules spell it out — so this is simply that list, pulled forward to week one:
| Get this | Because the return asks for it |
|---|---|
| Every account statement covering the date of death — checking, savings, CDs, money market, credit union, IRAs, mutual funds, brokerage | Schedule B-1 wants the full date-of-death balance of each account, and brokerage statements must be submitted with the return. |
| Statements showing all names on each account | The schedule asks for every registered owner and named beneficiary “as they appear on the most recent statement issued… prior to death” — which also decides the joint account question. |
| The deed, plus any appraisal, contract of sale or closing statement | Schedule A wants full market value at the date of death and a copy of the deed. |
| A date-of-death mortgage balance letter from the lender | Schedule D takes the balance on the date of death — not a later payoff quote. |
| Pension, annuity and policy contracts | Schedule C requires copies of such contracts, plans and policies where they pay out at death. |
| The will, all codicils, and any trust documents | Required with the return where the decedent died testate or maintained a trust. |
| The decedent’s last full year federal income tax return | Stated on the return as required. |
Download it, save it somewhere that isn’t only your laptop, and name the files so a stranger could find them. You are building the record that will answer questions months from now, possibly for people who don’t trust you.
Start the expense log on day one
Executors routinely forget that ordinary administration costs are deductible — and then can’t prove them. New Jersey’s own list of allowable administration expenses includes the small, forgettable ones: Surrogate’s fees, probate expenses, death certificates, the fee to notify creditors, appraisals of real estate and personal effects, the cost of the executor’s bond, court costs, collection costs, and telephone tolls.
Those are exactly the receipts people throw away. Keep a running log from the first filing fee: date, amount, what it was for, and the receipt. It costs nothing at the time and it is not reconstructable later.
Small doesn’t mean disallowed — undocumented does
A common instinct is to skip claiming minor amounts because they feel too trivial to bother with. That’s backwards. The governing rule for a debt is that it was owing and unpaid at death and paid from the estate — not that it’s large. A modest, well-evidenced claim with an invoice and a clear paper trail is ordinary. A large one supported by memory is the problem.
The reverse also matters: the instructions specifically note that the portion of medical bills paid or reimbursed by Medicare or other insurance shouldn’t be claimed. Documentation cuts both ways — it tells you what you can claim and what you shouldn’t.
Assume the return will be read
Plan as though a person will examine what you file, because in practice one does before waivers and the assessment issue — there’s no lottery to hope for. That sounds ominous but it’s freeing: it means the goal isn’t to slip anything past anyone, it’s to make review easy. A filing that arrives with its supporting documents attached and its numbers traceable tends to move once. One that arrives thin generates questions, and questions are where months disappear.
The record system, already built
The NJ Compliance Kit includes the document checklist, the expense log, and the deadline calendar — so the record builds itself while you work instead of being reconstructed at the end.
Open the free NJ calculator → See the NJ Compliance KitSee real pages from inside the kit → · Every kit carries a 30-day money-back guarantee — if it isn't the help you needed, email and I'll refund you in full. No forms, no questions.
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Frequently asked questions
What records should an executor gather first?
Statements covering the date of death for every account (checking, savings, CDs, money market, credit union, IRAs, mutual funds and brokerage), the deed and any appraisal or closing statement for real estate, a date-of-death mortgage balance letter, pension and annuity contracts, the will and any codicils and trusts, and the decedent's last full year federal income tax return. That list mirrors what the New Jersey inheritance tax return and its schedules ask for.
How far back can I download bank statements as executor?
It varies by institution, but self-service online access is usually limited to a relatively short window — often a year or two — even though the records themselves exist longer. Older statements typically require a written request and a wait. Since the return needs date-of-death values, downloading early is the difference between a few clicks and weeks of follow-up.
Are small executor expenses worth deducting?
Size isn't the test — documentation is. New Jersey's allowable administration expenses include modest items like Surrogate's fees, probate expenses, death certificates, the fee to notify creditors, appraisals, the executor's bond, court costs and telephone tolls. A small, well-evidenced claim is ordinary; a large one supported only by recollection is the risk.
Does every New Jersey inheritance tax return get reviewed?
Plan as though it will be. A return is filed and reviewed before the assessment and waivers are issued, so the practical goal is not avoiding scrutiny but making review straightforward — supporting documents attached and numbers traceable. Thin filings generate questions, and questions are where months are lost.
Why does the date of death matter so much for records?
Because most of the return is built on values fixed on that single day: the full date-of-death balance of each account, per-share values on that date, accrued interest to that date, and the mortgage balance on that date. A later statement or a payoff quote is a different number and generally can't be substituted.
What should I do about medical bills covered by insurance?
Only the portion the estate actually bears is claimable. The instructions specifically note that the part of medical bills paid or reimbursed by Medicare or other medical insurance should not be claimed as a deduction, so keeping the explanation-of-benefits paperwork matters as much as keeping the bill.