<link rel="stylesheet" href="//fonts.googleapis.com/css?family=Exo:100,200,300,regular,500,600,700%7CRaleway:300,regular,600,700%7COpen+Sans:300,300italic,regular,italic,600,600italic%7CMontserrat:300,300italic,regular,italic,600,600italic">December 2009 - Tax, Estate Planning & Probate Law Center

Pointers on the Yearly Gift Tax Exemption

When you give money or property to another person as a gift, you may have to pay a gift tax. The tax is paid by the donor. The person receiving the gift does not have to pay the tax The

2009 Year-End Estate Planning News

The year 2009 was marked by many changes affecting estate planning and related areas on the local, national and international levels, against a backdrop of continuing uncertainty as to how—or if—the federal estate and gift tax applicable exclusion amounts and

Year-End Checklist for 2009

Consider the following before 2009 is over: Make year-end annual exclusion gifts of $13,000 ($26,000 for a married couple). Make year-end IRA contributions. Create 529 Plan accounts before year-end for children and grandchildren, and consider front-loading the accounts with five

Year End Estate Planning Tips – Make Annual Exclusion Gifts

This year the annual gift tax exclusion is $13,000 per person and in 2010 the exclusion will remain the same.

Foreign Account Tax Compliance Act – Traps for the Unwary

For anyone who has clients or family members that live and work abroad, the new Foreign Account Tax Compliance Act (FATCA) is a real problem. Although this Act is supposed to punish Americans who hide assets abroad to avoid their

The Need for Long Term Care Planning

One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Depending on location and level of

Conservatorship or Legal Guardianship: Which is the Right Choice?

Conservatorship concerns only the conservatee's financial matters when they need assistance.

New Jersey Transfer Inheritance Tax : How the Tax Works

New Jersey also has an inheritance tax. An inheritance tax means that when a New Jersey resident dies his or her assets will be taxed on the basis of who inherits those assets No Tax on Most Inheritances For most

What is an Irrevocable Life Insurance Trust (ILIT)?

Many people aren’t aware that all of the proceeds from life insurance policies that they own at death will be included their estate for estate tax purposes. This is because if the policy owner can withdraw the cash value and