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
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
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
These days, just about everyone should take care to protect their assets from possible lawsuits or other problems. Here are 13 things to watch out for: 1. Don’t keep money in a joint account, even
The stretch IRA concept is a wealth-transfer strategy that can help you extend the period of tax-deferred earnings on your retirement assets. After the owner of the IRA dies, the beneficiaries will also have the
American Bar Association Publishes Local Tax Attorney’s ArticleTax attorney Parag P. Patel, Esq. published an article entitled “Tax Law” in the October/November 2006 issue of American Bar Association’s GPSOLO magazine. The GPSOLO magazine is nationally
Consider the attorney’s:Education, Certifications and Memberships e.g. Special Needs Alliance (SNA); National Academy of Elder Law Attorneys (NAELA); American College of Trust & Estate Counsel (ACTEC); American Bar Association (ABA); and State Bar AssociationsTime/experience in
It’s no secret that retirement accounts come in all shapes and sizes … from the account that is strictly set aside to generate retirement income to an account earmarked for heirs. For those intending to
One of the best parts of my practice is when I have the opportunity to assist parents of a child with special needs. A concern of all parents, (but especially parents of special needs children)
By Parag Patel Esq. Non-US citizens (greencard holders or H-1 visaholders) are severely discriminated against by US estate tax laws. Since estate taxes are based on the size of your estate. It is estimated that
By Parag P. Patel, Esq. This article is for my clients who mistakenly believe that they do not need estate planning advice because they plan to leave all their assets to their spouse and will
By Parag Patel, Esq. Keep anything related to your tax return for at least three years after you file. Keep anything related to your tax return, such as W-2 and 1099 forms, and receipts and
