Letter to Your Spouse
By Parag Patel, Esq. In addition to your estate planning, it’s a good idea to have a non-binding letter to your spouse, children and other heirs outlining where the important documents are kept and who
$3.5 Million Federal Estate Tax Exemption for 2009 Could Mean Higher State Death Taxes
If the federal exemption is greater than the state exemption, the difference may become subject to state death taxes.
Obama to Keep 2009 Estate Tax Level
President Obama wants to freeze the current estate tax level to $3.5 million which is the estate tax exemption amount for 2009.
Ten Things to Do to Prepare a Will for Probate
If you are the executor of a will there are many things you must do to get that will ready for probate. Probate means the process by which the deceased’s assets are gathered; outstanding debts,
Estate Planning When a Spouse is Confronting Health Issues (Estate Planning for the Healthy Spouse)
When one spouse is a resident of a nursing facility or medical institution (the “institutionalized spouse”), but the other spouse continues to live in the community (the “community spouse”), the community spouse may take a
A great time for GRATs
The rate is the lowest it has been since the inception of the 7520 rate in May 1989.
2009 Tax Update
A few things have changed with the coming of a new year—below are some tax items to be aware of. Estate and gift taxes: The basic federal estate-tax exemption increased to $3.5 million from $2
HOW IS MY NJ ESTATE DISTRIBUTED WITHOUT A WILL IN NJ?
New Jersey law provides how your Estate will be distributed if you do die without a Will. The property referred to in this section deals with assets in the decedent’s name alone. A)If you die
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.