The proceeds of a wrongful death action can be taxed by the NJ Division of Taxation. Care must be taken in structuring settlement agreements to reduce the overall tax if […]
Read the full postThe SECURE Act made sweeping changes to IRA distributions affecting estate plans for decedents dying on or after January 1, 2020. What Changed? The new law changed the required minimum […]
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In the only private letter ruling addressing incomplete gift, non-grantor trusts (“INGs”) in 2020, the IRS ruled that the subject trust was a non-grantor trust under section 671 of the […]
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With proper planning you can take advantage of Qualified Small Business Stock and avoid recognition of significant gain on the sale of that stock. Not all stock sales are treated […]
Read the full postNew Jersey has no effective estate tax, which means that transfers on death are not subject to a tax based on the amount being transferred. However, New Jersey still has […]
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In New Jersey, the timing of a closing or other happening is generally not a material condition to the purchase and sale of real property. In other words, if the […]
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When someone dies, their will often directs the executor to distribute specific gifts of money to children, grandchildren, friends, charities, or other beneficiaries. At first glance, those cash gifts can […]
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Someone tells you: “When I die, the house will be yours.” Years later, that person dies. The will leaves the house to someone else. Can you enforce the promise? In […]
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While there may be several good ways to go about challenging a decedent’s last will and testament, in In the Matter of the Estate of Annie Rost, Superior Court of New […]
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