Qualified Domestic Trust (QDOT)

What is a QDOT?

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QDOTs

A QDOT (Qualified Domestic Trust) is a trust for the benefit of a surviving non-citizen spouse that defers the federal estate tax following the death of the first spouse. A Qualified Domestic Trust defers the federal estate tax because it qualifies for the unlimited marital deduction. A QDOT usually defers the federal estate tax until […]

Capital Gains Tax

Make a Gift Before 2021

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Give a Gift before 2021 | The Pollock Firm LLC

I try very hard not to be political in these blog posts. I also try not to speculate on what the government may or may not do as they frequently compromise in an unpredicted manner. However, I would be remise if I didn’t talk about the fact that Joseph Biden is ahead in most of […]

Special Needs Planning

New Law Could Require Changes To Your Special Needs Trust Plan

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Special Needs Trust as Beneficiary of an IRA

The new law specifically allows retirement money that is paid to a Special Needs Trust for a disabled person to be paid out over the lifetime of the disabled person. Whereas, retirement money paid to most adults that is not disabled must be withdrawn over ten years. Accordingly, it may actually be MORE tax efficient now to name a Special Needs Trust as beneficiary of an IRA.

Pet Trust

2019 Animal Law Symposium

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2019 Animal Law Symposium

We are pleased to announce that Kevin A. Pollock has recently been added to the speaking panel for the 2019 Animal Law Symposium.  Kevin will be speaking about estate planning for pet owners, including the creation of pet trusts. He will also be discussing relevant income tax laws and NJ Inheritance tax laws that pertain […]