Legal Updates

Scam Alert: You Don’t Need a Certified Deed

All of us want to make sure we keep important original documents. Problems certainly can arise if one loses bonds, stock certificates or their Will.  However, one document which can be lost without any negative repercussion is a Deed. When an individual takes title to a home, his or her deed is recorded in the […]

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Trick or Treat: Estate Tax Exemption to Increase

Trick or Treat: Estate Tax Exemption to Increase

Just in time for Halloween, the Internal Revenue Service has announced that the exemption from the federal estate tax will increase to $5,430,000, effective January 1, 2015.  Pursuant to the Fair Tax Act of 2013, this exemption, known as the applicable exclusion amount, is adjusted for inflation on an annual basis.  Initially set at $5,250,000 […]

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Inherited IRAs Not Exempt from Bankruptcy Protection

Inherited IRAs Not Exempt from Bankruptcy Protection

On June 12, 2014, the United States Supreme Court issued a decision holding that Inherited Individual Retirement Accounts (Inherited IRAs) are not exempt from creditors in a bankruptcy proceeding.  In Clark v. Rameker, Trustee, Justice Sonia Sotomayor, writing the majority opinion, stated that the change in the status of such accounts upon the death of […]

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Big and Bad News for IRA Owners

Historically, individuals who have invested in IRAs have had the ability to roll over each IRA on an annual basis.  Known as the one-rollover-per-year, the IRS’ own Publication 590 has detailed that each individual IRA can be rolled over once in any twelve month period.  However, that has just changed. In 2008, Alvan Bobrow rolled […]

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Government Sets Obstacle for the Disabled

Earlier this year, the Social Security Administration released a substantial revision to its Program Operations Manual System (POMS) which has a dramatic impact upon those who are classified as disabled and receive needs based government benefits such as Supplemental Security Income (SSI), Medicaid and Section 8 Housing.  Specifically, POMS SI 01120.201 has been modified to […]

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Unexecuted Will Admitted to Probate

Capehart Scatchard’s Thomas D. Begley, III obtained a significant decision in the Superior Court of New Jersey when he successfully argued that an unexecuted Will of a Burlington County resident be admitted to probated. In February 2012, SalvatoreVarsaci consulted with an attorney to revise his Will.  The Will was drafted and sent to him for […]

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Appellate Court Discusses Rambo – No, Not the Movie

A recent Appellate Division case tells an interesting tale of human tragedy, mixing in criminal and estate administration law.  Roy Rambo graduated from dental school in 1977.  Along with his wife, Linda, a dental hygienist, he established a dental practice in Warren County.  Apparently, the practice did fairly well, since they amassed joint assets of […]

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