Category: Inheritance

Tips for Maximizing Your Inheritance Value

Leaving behind, gifting, or transferring sizeable assets to family members through your estate plan could leave them subject to significant taxes. However, there could be major discounts associated with transferring real estate investments of equal value. For real estate investments in which the investor gives less than 50% of the asset, lack of voting rights[...]

What to Do When You Want to Leave Behind Different Amounts for Your Children When You Pass Away?

The most common estate plan today will leave assets equally to all of your children. In some situations, however, equal distribution is not desired nor does it make sense for your family members. Parents frequently have logical reasons for leaving behind differently-valued inheritances for their children. For example, a younger child may still have a[...]

What Makes Trust Assets Different from a Typical Outright Inheritance?

There are many different reasons why you may choose to pass on assets to your loved ones in a trust. Most people will also leave behind a will that outlines the transfer of their property but a trust has multiple benefits. [caption id="attachment_5305" align="alignright" width="413"] Last will & testament[/caption] First of all, you have greater control[...]

Top Tips for Giving or Receiving an Inheritance

Giving and receiving are hot topics during this time of year, and you’ve probably done your fair share of both this holiday season. Of course, the nice thing about gifts around a tree is that you have some sense of what to expect when the big day comes around. Unless your loved ones are especially[...]

For Wealthy Parents, Inheritance is the New “Birds and Bees”

If you polled parents about the conversation they least want to have with their children, most would probably tell you divorce or “the birds and the bees.” CNBC reports that for wealthy people, though, the answer is a little different: inheritance. Like anyone else, rich parents want to leave their kids in as strong a[...]

Estate Planning Attorneys Are Humans Too… Or Should Be

It’s no secret that lawyers have a reputation for being “sharky.” In fact, a lot of us came up through law school at a time when the legal field tried very hard to fight back against that stereotype — an effort that continues even now. As a result, many of today’s attorneys are actually determined[...]

Do You Need A Lawyer To Create A Will?

Sure, you can create a will without a lawyer. There are even a number of downloadable documents online, and software programs available from your nearest electronics store, to help you do it. However, a recent article in the ABA Journal showcases why the do it yourself approach is not such a good idea. The article[...]

If You Don’t Plan Ahead, New Jersey Has An Estate Plan For You, And You’re Not Going To Like It

In New Jersey, if a person passes away without a will or trust, his or her estate assets are distributed according to what is known as intestate succession. It’s an estate plan of sorts, and for most people, not a very good one. Certain assets are not subject to New Jersey’s intestate succession laws. These[...]

Estate and Inheritance Taxes in New Jersey

For those looking to avoid estate and inheritance taxes, New Jersey is currently not the ideal state for an individual to spend his or her last days. Additionally, the effects of unpaid estate and inheritance taxes could linger long after the owner’s death. New Jersey is one of only two states that impose an estate[...]

Dying in New Jersey

Despite the fact that the federal government has rolled out a generous federal estate tax law, certain states still levy estate taxes on amounts much lower than the federal threshold. As a recent article explains, New Jersey is one of those states. (In the article states with an "estate tax" are one color, and those[...]