New Jersey Bill Introduced To Increase The New Jersey Estate Tax Exemption To...
In January, a bill was introduced in the New Jersey Legislature to increase the New Jersey estate tax exemption from $675,000 to $1 million. The reasoning advanced by the sponsoring senators to...
View ArticleSix Months Remain Before Significant Tax Opportunities Expire
Over the past eighteen months, we have posted frequently to the blog about the valuable tax opportunities available to taxpayers in 2011 and 2012 in connection with gifting assets to younger...
View ArticleAfter the Fiscal Cliff — A Summary of the New Federal Gift and Estate Tax Law
Congress took the fiscal cliff negotiations over the brink but was finally able to reach a deal resulting in the American Taxpayer Relief Act of 2012 (“2012 Act”). The 2012 Act makes the estate and...
View Article2014 Estate And Gift Tax Update
The fiscal cliff drama heading into the start of 2013 fortunately was not repeated as the calendar turned to 2014. Having said that, as we now start 2014, it is important to highlight the following...
View ArticleEstate/Gift Tax and Residency Update – New York
There have been important new developments for New York taxpayers over the past two months, some of which may require your immediate attention. Increase in estate tax exemption. Governor Cuomo’s...
View Article2015 Estate And Gift Tax Update
On October 30, 2014, the IRS released Revenue Procedure 2014-61, which announced inflation adjustments to the applicable exclusion amount beginning in 2015. For an estate of any decedent dying during...
View ArticleParadox of Mental Incapacity in State Estate Tax: How Moving Your Elderly...
It is difficult enough for families to come to grips with having to care for an elderly parent that may no longer be able to live on their own. After coming to terms with this unfortunate reality, the...
View ArticleWho Gets the Little Red Corvette? We’ll Never Know. The Importance of Having...
Prince was not the first famous person to die without a Will. Others who died intestate include: Abraham Lincoln, Ulysses S. Grant, Howard Hughes, Martin Luther King, Jr., Sonny Bono and Pablo...
View ArticleThe Repeal of the New Jersey Estate Tax: Is it Now Safe to Move Back to New...
On October 14, 2016, Governor Christie signed into law a transportation funding bill that also included the repeal of the New Jersey Estate Tax. Here is what you need to know: The New Jersey Estate Tax...
View ArticleForeign Parents With U.S. Children: Trusts Play an Important Role
Anyone who has seen the current Broadway hit Hamilton knows that we are a nation of immigrants. Moreover, many U.S. persons who moved here from elsewhere have parents back in their home country. When...
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