Supplemental Needs Trusts

Supplemental Needs Trusts, also called a special needs trust, is a trust in the United States that is designed to provide benefits to, and protect the assets of, physically disabled or mentally disabled persons and still allow such persons to

Problems with Joint Tenancy Property

Could joint tenancy, one of the most common forms of holding title to assets, lead to an estate planning disaster for your heirs? Joint tenancy, often called “joint tenants with right of survivorship,” is a form of holding equal interests

The Expensive NJ Inheritance and Estate Tax

Inheritance and Estate Tax New Jersey imposes a transfer Inheritance Tax, at graduated rates, on property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent’s death occurs on or after

2008 New Year’s Resolutions: Keep your estate planning on the right track

Here are 10 things you can do in 2008 to keep your estate planning on the right track. 1) Last Will and Testament Make sure you have an up-to-date, professionally-prepared Will and/or Living Trust. Keep the original in a safe

2007 Year-End Tax Planning Tips

Year-End Tax Planning Tips Due to uncertainty over the pending “extender” legislation, this year may prove to be more challenging than usual.We expect Congress to provide another one-year patch to assure that moderate incomes are not entrapped by the Alternative

Sale of Real Property from an Estate

There are some special issues to consider when the seller of real estate is the estate of a decedent. Real estate held by a decedent’s estate is subject to liens for the payment of any New Jersey Transfer Inheritance Tax,

Anna Nicole Smith: A Model for Bad Estate Planning

Anna Nicole Smith rose to fame as amodel for Guess Jeans and Playboymagazine. Now, her death has givenher newfound fame as a great model forterrible estate planning.Forget the fact that you can’t visit asupermarket without seeing gossip abouther life and

10 Most Frequently Asked Questions and Answers for Stretch IRAs

What is a stretch IRA? Stretching an IRA is simply the ability to have an IRA live longer than the account owner. A stretch IRA is an IRA that uses beneficiary designations to enable assets to continue to grow tax

Estate Planning for Families with Special Needs Children

Families with special needs children must exercise extra care in making their estate plans. This is true whether their special needs child is still a minor or now an adult, and particularly so when the child is – or in

Selection of the Trustee of a Special Needs Trust

There are obviously many important considerations to ponder when designing an estate plan for a beneficiary who has special needs. But the most important issue in the planning process is picking the person or persons who will be in charge

Asset Protection – Don’t Do It Yourself

Jonathan Alper in the Florida Asset Protection Blog has a great post on how standard off the shelf LLC and estate planning forms by non-experts will generally not protect your assets from lawsuits. A well-conceived asset protection plan can fail

Watch Out: The NJ Inheritance Tax

New Jersey imposes a transfer Inheritance Tax, at graduated rates, on property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent’s death occurs on or after January 1, 1985, property