Dave and Molly have been married for many years. They have an estate worth $1.5 million which includes their home, bank and brokerage accounts and life insurance. They have three adult children: Manny, Moe and Jack. Manny and Moe are successful businessmen who are financially secure. Jack, though, was born with Down’s Syndrome and is […]
The Purpose of Disclaimers and How to Use Them Although most individuals gladly welcome an inheritance, there are occasions in which one may want to forego part or all of one. The vehicle by which to do so is known as a disclaimer. A disclaimer is a post-mortem estate planning device which affords the estate […]
There are a variety of transfer taxes which affect a decedent’s estate. In the State of New Jersey, the estates of decedents are subject to two primary forms of death tax. The first is the New Jersey Transfer Inheritance Tax which is a tax on the heirs of an estate. The second is the New […]
When an individual dies there are a variety of taxes to which his estate and heirs are subject. These include federal and state estate taxes, federal and state estate income taxes, the generation skipping transfer tax, the gift tax and state inheritance taxes. For residents of the State of New Jersey, death triggers two taxes […]
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