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.
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
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
Estate Planning in New Jersey
Estate Planning in New JerseyYou can save a lot of money and potential chaos and hard feelings among those closest to you by preplanning how you want your assets managed when you are incapacitated, and
Family Limited Liability Companies (LLCs)
As a proponent of Family Limited Liability Companies (LLCs) for asset management, creditor protection, and ease of gifting, I was pleased to read about the U.S. Tax Court’s decision in Mirowski v. Commissioner, T.C. Memo
The New Jersey Civil Union Act: Tax Benefits?
On February 19, 2007, following the New Jersey Supreme Court’s decision in Lewis v. Harris, New Jersey effectuated the Civil Union Act (hereinafter, “the Act”). The Act grants couples in same sex civil unions equal
New guidance on fixing a botched IRA stretch after it’s “too late”
To preserve the ability to stretch IRA distributions for a beneficiary, that individual must start taking withdrawals based on his/her life expectancy in the year after death. If those required withdrawals don’t start on time,
Living Trusts Are Revocable And Not An Asset Protection Tool
This great post comes from Jennifer N. Sawday of The California Estate Planning Blog. Her post is titled: Living Trusts Are Revocable And Not An Asset Protection Tool and describes a fundamental (and often misunderstood)
THE ABCs OF STRETCH IRAs
You can plan to have your heirs inherit your IRA assets. Can an IRA keep growing for a century or more? In theory, it can. Some people are planning to “stretch” their Individual Retirement
A Change in Domicile to Florida Can Help Minimize Taxes
The below article applies to New Jersey, as well as New York Retirees who have homes in both New York and Florida may be able to reduce or eliminate New York income and estate taxes,
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