Taxation of 401k withdrawals under the CARES Act
Essentially, the CARES Act eliminates the 10% early withdrawal penalty for certain distributions taken from retirement plans such as 401(k) and 403(b) plans, and IRAs.
Read the full post
Electronic Wills in New Jersey
On June 27, 2022 the Uniform Electronic Wills Act (S2923) was introduced in the New Jersey Senate. The Bill has been referred to the Judiciary Committee and a similar Bill […]
Read the full post
Are Wrongful Death Settlements Subject to Inheritance Tax in New Jersey
General Rule Not all amounts recovered in a wrongful death action are exempt from the New Jersey Inheritance Tax. Generally, wrongful death settlements recovered under N.J.S. 2A:31-1 are not subject […]
Read the full post
How to Best Choose a Taxable Year for an Estate
The ability to elect a fiscal tax year is a powerful planning tool that, when used wisely, can reduce overall taxes and facilitate the orderly administration of the estate.
Read the full post
Failure to Provide Discovery Can End Your Estate Matter
On appeal from the Superior Court of New Jersey, Chancery Division, Middlesex County, Docket No. 18-000394, the New Jersey Appellate Division upheld the trial court’s dismissal of petitioner’s various estate […]
Read the full post
New Jersey Inheritance Tax for Non-Residents
If you live outside New Jersey and you leave New Jersey property to someone at your death, New Jersey may impose a tax.
Read the full post
How Best to Use Drag-Along Rights in LLC Agreements
A drag-along provision allows the majority owner to force the minority owner into the sale transaction, regardless of what the minority owner wants.
Read the full post
How Best to Use Pre-emptive Rights in LLC Agreements
The pre-emptive right gives that member the option to buy additional units to preserve that member’s overall interest in the LLC.
Read the full post
Is An Unsigned Partnership Agreement Among Medical Doctors Valid?
Recently, the New Jersey Appellate Division held that an unsigned partnership agreement among medical doctors was not valid because it had not been agreed to by all members. The Case […]
Read the full post
Trustee Resignation in New Jersey: Lessons from the Gloria Mann Trust Case
How does trustee resignation in New Jersey work? Can a trustee simply sign a resignation letter and walk away? Sometimes. The rules governing trustee resignation in New Jersey depend not […]
Read the full post