Varieties of Powers of Attorney
A power of attorney is a very important estate planning tool, but in fact there are several different kinds of powers of attorney that can be used for different purposes. Before executing this crucial document,
Structuring: A Tax Crime
One of the most frequent criminal charges our firm encounters is the illegal structuring of cash transactions to evade the IRS reporting requirements of Section 6050I. Usually the taxpayers who break this law are not
Estate Tax Pitfalls Seen In Court Case
Few things get people madder at their estate planners than fights over who must pay taxes when someone dies. A big source of trouble: the patchwork of state rules that apply. Most states say those
New offshore account disclosure law
To pay for the hiring incentives in the recently enacted “Hiring Incentives to Restore Employment Act” (the 2010 HIRE Act), Congress passed several offsetting revenue raisers, including a comprehensive set of measures to reduce offshore
NJ Inheritance Tax
Inheritance Tax, also referred to as the death duty, is the set of taxes which has to be paid by the heir on inheriting the estate of a deceased person. This tax is calculated after
Tangible personal property: plan well to avoid family disagreements
People who provide for their beneficiaries in their estate planning documents generally do a good job with their financial assets but are oftentimes remiss in providing detailed instructions regarding their tangible personal property (ie. household
New Jersey inheritance tax
If you live in New Jersey, then you’re lucky enough to live in one of the two states that collects both a separate state inheritance tax and estate tax (the other is Maryland). Currently the
Asset Protection for Physicians
Where physicians are most likely to lose wealth is through bad marriages, bad investments, bad tax planning, or a combination thereof.
Life insurance for disabled or special needs children
When a child is born, many people purchase a life insurance policy for him or her. The parent is typically the owner and beneficiary of the policy, and many of these policies are known as
The questions most frequently asked about probate in New Jersey.
1) How do I begin the probate procedure? The person that wishes to be appointed to represent the Estate will bring a certified copy of the death certificate and the original Will. While the Surrogate
Pennsylvania’s 2010 Tax Amnesty Program
Our firm recently successfully filed several client's state amnesty applications.
Medicare and Medicaid Basics
Medicare Medicare Part A covers up to 100 days of “skilled nursing” care per spell of illness. However, the definition of “skilled nursing” and the other conditions for obtaining this coverage are quite stringent, meaning