Understanding Basis
The original cost of an asset is only the starting point for determining basis.
Using Debt as a Tool in Estate Planning
The practice of estate planning is more than just the preparation of Wills, Trusts, Powers of Attorney, and Living Wills. We also consult with many clients regarding how to structure their wealth. This could include how to manage debt and use debt as a tool in estate planning.
Elizabeth Ketterson Interview
We are proud to announce that Elizabeth Ketterson, Esq. has been featured on “Get Real!” with Meg Hanington and Genevieve E. Thayer. “Get Real!” is a program that focuses on various topics related to business and finance. The complete Elizabeth Ketterson interview can be found at: https://rvntelevision.com/episode/getreal-with-elizabeth-ketterson-esq/. The focus of Elizabeth’s interview on “Get Real!” […]
Estate Planning for Americans with Assets in India
New Jersey is a very diverse state, and I have quite a few clients of Indian heritage. Accordingly, I thought I would share some advice regarding estate planning for Americans with assets in India: India does not have an estate or an inheritance tax; There is no treaty with respect to the US and India […]
Make a Gift Before 2021
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 […]
New Jersey Estate Tax—Permanent Repeal?
As many of you know, the new Democratic Governor of New Jersey, Phil Murphy, was engaged in a recent budget showdown with members of his own party. A last minute government shutdown was avoided, however, as the legislature and the Governor came to terms on a variety of tax increases and spending priorities. For more […]
Estate Tax Exemption Limit Changes for 2018
While the House and Senate are considering competing tax proposals, including a proposal to eliminate the federal estate tax, it is worth noting that the IRS has released Revenue Procedure 2017-58 which provides inflationary updates for a number of provisions in the Internal Revenue Code, including Estate Tax Exemption Limits. Assuming that the Republicans do not […]
Proposed Tax Policy By Republicans Would Enable Wealthy to Pass On A Massive Income Tax Deduction to Their Heirs Upon Death
As most of you know, I generally try to avoid political discussions and I really try to avoid commenting on proposed tax policy before it becomes law for the simple reason that most proposed law changes never get enacted. However, I feel compelled to talk about what I believe is a major flaw in the […]
Estate Tax Thoughts on a Trump Presidency
It is no secret that most Republicans and Donald Trump wish to get rid of the federal estate tax (or as it is commonly referred to “The Death Tax”). With Republicans in charge of the House, Senate and Presidency, I think we are very likely to see a full repeal. Many will counter that George […]