Probating a Will

It is important to create a comprehensive estate plan, and there are certain measures that one can take to avoid probate if done correctly. Probate is the legal process whereby a last will and testament is determined to be valid and authentic by a court of law. Under New Jersey State Law, the will is […]

New Jersey Credit Shelter Trust and Estate Taxes

Over the last few years, both New Jersey and federal estate tax laws have changed. Currently, a decedent’s estate only needs to pay federal estate tax if the gross value of the estate exceeds $5,490,000. In New Jersey, estates with a value in excess of $2,000,000 have to pay the state’s estate tax. As of […]

Debts of an Estate

When a parent passes away, oftentimes their spouse or adult children are left to settle the estate. While debt may be the last thing on the mind of someone that loses a loved one, it is an important issue that may arise upon their passing. Many people have similar questions when it comes to estate […]

POLST and Advance Directives: You Need Both!

In December 2011, New Jersey Governor Chris Christie signed legislation that enables patients to indicate their wishes regarding life-sustaining treatment through the practitioner/physician orders for life-sustaining treatment (POLST) form. POLST is a medical order that is completed by a physician or an advance nurse practitioner (APN) and is intended for patients with life-limiting illnesses. The […]

Self-Settled Trusts Available for Individuals with Disabilities

By adding two words (“the individual”) from the Special Needs Trust Fairness Act of 2015 to an existing statute, special needs individuals are now able to create their own self-settled special needs trust. President Obama signed the 21st Century Cures Act approving the change and opening the door for individuals who previously could not open […]

New Jersey Makes Changes to Uniform Trust Code

Effective July 17, 2016 New Jersey officially enacted the revised Uniform Trust Code. The act, which was introduced by state Senators Christopher “Kip” Bateman and Peter J. Barnes, III, applies to “express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the […]

New Jersey Estate Tax

In New Jersey, any estate larger than $675,000 is subject to the New Jersey Estate Tax.

A New Jersey estate tax return, Form IT Estate, must be filed if the decedent’s gross estate plus adjusted taxable gifts exceeds $675,000 within 9 months of date of death. The New Jersey estate tax is either the maximum […]

IRS Estate Tax Exclusion

For 2016, the IRS estate tax exclusions are as follows:

the estate tax exclusion amount for deaths in 2016 is $5.45 million the annual exclusion for gifts is $14,000 the applicable exclusion amount for lifetime gifts is $5.45 million […]

View Map and Driving Directions