I recently attended a program where Bill Walton, the former NBA star and current NBA broadcaster, was the guest speaker. Mr. Walton, as a player for the UCLA Bruins, won the national collegiate basketball title in 1972 and 1973 under legendary coach John Wooden. Mr. Walton spent much of the […]
Dear “Ask The Attorney”: My lawyer did not date my will and said it doesn’t need one. Is that correct? I went to the bank and got a notarized statement that my will was made on that date, am I covered? Uncle Ed Our guest blogger is Gary R. Botwinick, […]
Estate Tax Changes – A Planning Opportunity.pdf
As previously discussed on this blog, in addition to the federal estate tax, the State of New Jersey imposes its own estate tax on inpidual estates larger than $675,000. In client meetings, we spend a lot of time discussing and developing solutions that revolve around the New Jersey estate tax. At the end of this discussion, clients usually say something along the lines of “isn’t there an easier way?” My answer is always simple: “yes, you can become a resident of a state without a state estate tax.” Now, for most people, leaving the state is not an option, but to be a resident of a state for estate tax purposes, you only have to reside in that state for 6 months and 1 day. So if you’ve ever considered a beach house in Florida or a ski cabin
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