Don’t Overlook Important Estate Planning Considerations During the Pendency of a Separation or Divorce

A recent New Jersey Appellate Division decision highlights the importance of updating your estate plan during an extended separation.  In the matter of the Estate of Pattanayak involved a dispute between the parents of Basabadatta Pattanayak and her estranged husband. The couple separated in 2012.  In 2014, they agreed to mediate the dissolution of the […]

Will the IRS Make Valuation Discounts Disappear?

Valuation discounting utilizing family-owned entities has been a popular estate and gift tax planning technique for several decades. New proposed Regulations to Internal Revenue Code section 2704, which tax professionals have been anticipating for years, were published in August, 2016. The proposed Regulations could significantly impact the continued ability to generate valuation discounts when transfers of family-owned entities are involved. Family […]

The Failure to Coordinate the Provisions of Your Current Will with Documents Referenced in that Will Can Have Costly Consequences

A recent decision of the New Jersey Superior Court, Chancery Division, highlights the importance of reviewing your estate plan to ensure that it meets your current objectives and that lifetime trusts or charitable foundation documents referenced in your estate plan remain in force. In a decision entitled In the Matter of the Estate of Muhammed […]

Take Advantage of Estate Planning Techniques that Thrive in a Low Interest Rate Environment

Current interest rates, which remain near historic lows, present several income, estate and gift tax planning opportunities. A number of estate planning techniques, including a grantor retained annuity trust (“GRAT”), an intra-family loan, an installment sale of a closely-held family business interest and a charitable lead annuity trust (“CLAT”), are more beneficial during periods of […]

Legislation Regarding Digital Assets Poses Planning Considerations

As technology and the use of social media become more prevalent, access to digital assets in the event of the account owner’s death has become an increasingly important estate planning consideration. Digital assets include a variety of media including social media pages, emails, and frequent flyer points. There have been many reported instances when family […]

Benefits of Planning With a Properly Drafted Trust

There are significant “non-tax” estate planning concerns that can be addressed through the implementation of a properly drafted trust. A trust can provide a measure of protection so that the assets you have accumulated over a lifetime are not dissipated by a creditor or divorcing in-law.

A Primer on the New Jersey Estate Tax

There have been a number of New Jersey legislators recently advocating for the repeal of the New Jersey Estate Tax or an increase in the applicable exclusion amount. The text of bill A120 clearly states the basis for the attack – “this archaically low threshold for New Jersey’s estate tax—less than the value of many […]