SECURE Act Changes to IRA Distributions
The 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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IRS Rules Under Section 2511 that Transfers to Irrevocable Trust are Incomplete for Purpose of Federal Gift Tax
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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How to take Advantage of Qualified Small Business Stock (IRC 1202)
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 […]
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New 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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Making Time of the Essence in New Jersey Real Estate Contracts
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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What Happens When an Estate has Insufficient Cash to Pay the Gifts the Decedent Wanted to Make?
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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Are Promises to Make a Will Enforceable in New Jersey?
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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The Wrong Way to Challenge a Will
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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