New Jersey no longer has an estate tax, but it does have an inheritance tax. The inheritance tax rate is based on the relationship of the beneficiary to the person who died. Certain beneficiaries are exempt from inheritance tax, such as spouses, children, and charitable organizations.
You should also be mindful of federal tax obligations. Larger estates in particular may be subject to federal estate, gift, or GST tax.
A lawyer can help you navigate state and federal tax laws and minimize the impact on your estate.