Resources

Dear Ask the Attorney: What assets are included in the New Jersey estate tax?  I know there is no inheritance tax on children, and that the estate tax exemption is $675,000.  Does that mean if you have $1,000,000 estate, the New Jersey estate tax is based on $325,000?  What is […]

Parsippany, NJ — The Parsippany-Troy Hills Library is sponsoring a free seminar on financial and estate planning. The seminar is entitled Protecting your New Family: A Guide to Ensuring a Healthy Financial Future. It will be held at the Main Library on Saturday, June 8, from 10am-12pm.

Dear Ask the Attorney:   My dad passed away without a Will.  He just has a condo that his wife lives in.  Can she simply get the condo if she can assume the mortgage?  My dad has five kids and most of us do not want the condo. T.B. Hi […]

While much has been written about the tremendous opportunity the current federal estate tax laws provide for individuals with assets over $5 million (including our August 2012 newsletter), little attention has been paid to individuals with estates of a lesser value who live in New Jersey. If you are one of those people, congratulations, New Jersey has the worst state estate tax regime in the country. Our great state not only has one onerous death tax, but two – the New Jersey Estate Tax and the New Jersey Inheritance Tax.