repeal of the NJ estate tax

Repeal of the NJ Estate Tax – Should married couples update their wills?

Posted Leave a commentPosted in Basis, Diclaimer, Estate Tax, New Jersey, Revocable Grantor Trust, Revocable Intervivos Trust, Uncategorized, Will

Effective January 1, 2018, New Jersey repealed its estate tax.  The question then become how does this affect you and do you need to do anything about it?  For most people the change is a positive one because it means their heirs pay less taxes and they do not need to do anything to update […]

Disclaimer Trust

What is a Disclaimer Trust?

Posted 1 CommentPosted in Diclaimer, Estate Planning, Estate Tax, Federal Estate Tax, Gift Planning, Gift Tax, New Jersey

A Disclaimer Trust is a special type of trust often created under a Will (or as a sub-trust of a revocable living trust).  In order to understand Disclaimer Trusts, you first need to understand what a disclaimer is and what happens when you make a disclaimer so that you can understand the purpose and mechanics of Disclaimer Trusts. […]

7 Simple Ways to Minimize the Pennsylvania Inheritance Tax

7 Simple Ways to Minimize the Pennsylvania Inheritance Tax

Posted Leave a commentPosted in Capital Gains Tax, Charitable Trust, Estate Administration, Estate Planning, Federal Estate Tax, Inheritance Tax (相続税), Pennsylvania

It’s been a little while since I have written an article on the Pennsylvania inheritance tax.  However, before I discuss ways to minimize the PA inheritance tax, it is important to understand that the tax rate is affected by who receives money upon your death. As a refresher, Pennsylvania has an inheritance tax on most […]