Estate Planning and Life Insurance Trusts
By Parag P. Patel, Esq. Few people realize that, even though they may have a modest estate, their families may owe the government hundreds of thousands of dollars because they own a life insurance policy
How to Stretch Your IRA Into a Family Fortune
Your individual retirement account (IRA) can do much more than provide funds for your retirement — it can be stretched to provide millions of dollars in payouts to your children, grandchildren or others you
Stretch your IRA
How would you like to make your grandchildren millionaires? Would it put a smile on your face to insure that your great-grandchildren never have to think about money? Its easy … if you have the
Laws May Cause Issues for Owners In Civil Unions
LGBT business owners in New Jersey should assemble a team comprised of a lawyer, an accountant and a financial adviser who are familiar with the laws surrounding same-sex couples.
Probate Basics
The legal process of transferring of property upon a person’s death is known as “probate.” Although probate customs and laws have changed over time, the purpose has remained much the same: people formalize their intentions
President-elect Obama’s tax plan
Tax-Plan Highlights Here are some of the details of President-elect Obama’s tax plan. INCOME TAXMaintain current tax rates of 10% to 28% for most Americans. Reinstate top tax rates of 36% and 39.6% on joint
2008 Year End Estate and Trust Taxes and Planning: Before It’s Too Late!
Although year-end tax planning generally focuses on income taxes, a thorough year-end tax assessment should include reviewing your estate plan and estate tax situation as well. In 2008, the highest marginal estate tax rate is
10 Costly Mistakes to Avoid in Helping Families with Special Needs
This article examines the unique planning requirements of families with children, grandchildren or other family members (such as parents) with special needs. There are many misconceptions in this area that result in costly mistakes in
The Secret Stretch IRA
It may seem like a contradiction, but there is a way to leave a lot of money to your heirs even if you’re not rich. Individual retirement accounts (IRAs) were established to let you save
THE PROBATE PROCESS IN NJ
Probate is the process whereby a Will is proved to be valid by a Surrogate, who has the authority to determine the authenticity of such a document. It also involves appointing an individual for an
McCain & Obama’s Estate Tax Plans
From Wall Street Journal: Stayin’ Alive: How to Cheat The Estate Tax, by Tom Herman: The Obama Plan. Sen. Obama proposes a $3.5 million exclusion in 2009 and thereafter, with a top rate at 45%.
Estate Planning: More Than A Will
By Parag P. Patel, Esq.www.patellawoffices.com During our lifetime, most of us strive to create and build upon our net worth. We generate savings, purchase a home, and eventually invest in stocks, bonds, mutual funds, IRAs