Legal Tip of the Week – 05/5/17!

In an interesting overlap between trust and inheritance tax laws, a recent NJ case shows us that transfers to trust are not exempt from inheritance taxes when the Grantor(s) retains benefits or strings of control.  As some of you may already know, the State of NJ does not have a gift tax for gifts made […]

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Legal Tip of the Week – 4/21/17!

Have you ever heard of Revocable Living Trusts and wondered who needs these types of trusts?  The term “trust” is often used by many professionals in the wrong context, causing a lot of confusion among clients who don’t know exactly what these trusts do and how they can benefit an individual or a family.  In my opinion, […]

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Legal Tip of the Week – 3/10/17!

Multi-generational families have diverse estate planning needs. Young parents in the 30s and 40s who need Basic Last Wills and Testament to name Guardians for their minor children and simple Powers of Attorney to designate financial or health care agents in the event of incapacity often find themselves worrying about their own aging parents, typically […]

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Legal Tip of the Week – 2/24/17!

In the past year, I have seen several situations where a very young spouse (also a parent of young children) passes away unexpectedly.  Families who were reasonably affluent prior to the death of their loved one sometimes come into a more wealth due to life insurance payout(s).  From an estate planning perspective, it is a good […]

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Legal Tip of the Week – 2/17/2017!

This week’s legal tip is about the New Jersey estate tax repeal. Some sources have postulated that the New Jersey estate tax may not end up being repealed in 2018 as originally planned. As you may already know, Governor Christie signed a bill to increase the NJ estate tax exemption from $675,000 to $2 million […]

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Legal Tip of the Week – 2/10/17!

Time and again I get the same type of call – an elderly individual tells me that their spouse was admitted to a facility several years ago, which they were paying for privately, but now the money has run out.  They tell me they need someone to help file a Medicaid application for their ill-spouse, […]

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Legal Tip of the Week – 2/1/17!

Individuals of different net worth have one thing in common: they are all protective of their retirement assets, no matter the amount.  Most of these individuals also realize the importance of naming a spouse as the primary beneficiary of these retirement accounts, so the spouse can roll them over into his or her name and […]

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Legal Tip of the Week – 1/24/17!

Asset Protection comes in many flavors but when it comes to protecting your primary residence, it may be difficult to have your cake and eat it too.  A lot of people think that putting a home into an irrevocable trust is the easiest solution.  However, not many people think through the mechanics of setting up […]

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Legal Tip of the Week – 1/20/2017!

A question was posted recently in a financial column[1] asking what options a beneficiary of an estate has when the Executor is so overwhelmed with her responsibilities that she seems paralyzed into inaction.  The questioner said that it had been 8 months since the Executor was charged with the responsibility, but that nothing seemed to be getting […]

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