Estate Planning

Nice Article on the Basics of ILITs

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The Basics of ILITs

A colleague of mine, David Saltzman, has written a nice article on the Basics of Irrevocable Life Insurance Trusts.  As he points out, setting up a life insurance trust is a great way to minimize your estate tax liability and it can be especially important in New Jersey. Dave is a great resource and knows […]

Estate Planning

Pennsylvania Same Sex Married Couples No Longer Have to Pay Inheritance Tax

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Same Sex Couple

On May 20, 2014, declared that Pennsylvania’s laws banning same sex marriage was unconstitutional.  Besides the practical implication that same sex couples in Pennsylvania may now get married, it also means that when one spouse dies, the survivor can now inherit tax free. Previously, only a heterosexual surviving spouse could inherit assets of the deceased spouse […]