Living Wills in New Jersey
Living Wills in New Jersey Anyone who cares about the feelings of their family members, or their own final health care treatment, should consider executing a Living Will. It has become an essential element in
Recent Case Allows Special Needs Trust After Death
A New York trial court recently approved a trustee’s petition to reform his deceased father’s trust in order to protect his disabled sister’s Medicaid benefits. In Matter of Newman (2008 NY Slip Op 50127, Jan.
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)
Mediating Probate Disputes
A lawyer involved in a probate dispute must be able to advise his or her client both about the client’s legal rights and remedies and about the client’s options for resolving the dispute. If the
Introduction to Special Needs Estate Planning
Special Needs Estate Planning focuses on the need to provide for the special needs of our loved ones with disabilities when we are no longer there to organize and advocate on their behalf. It is
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,
“Leave a Legacy” – Beneficiary Designation on your Retirement Plan
Published in the Robert Wood Johnson Foundation newsletter. By Parag Patel Esq. Your largest asset may be your retirement plan. But did you know that your retirement plan can be taxed TWICE at your death?
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
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
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