Elder Law & Estate Planning
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07
05, 2018
A person reviewing estate planning documents and tax forms, highlighting changes under Trump's tax law and their implications for elder law and wealth management.

Estate Planning Under Trump’s New Tax Law

May 7, 2018
From an estate planning perspective, the highest-profile aspect of the new tax law is that the federal estate tax exemption has been doubled. The jump from $5.5 million to just over $11 million ($22 million for married couples) is significant,…
01
05, 2018
Image showing a representation of Bitcoin, emphasizing the importance of including cryptocurrency in estate planning to avoid financial loss for heirs.

Will Your Cryptocurrency Die with You?

May 1, 2018
Cryptocurrency hasn’t exactly gone mainstream, but it’s no longer a rare, fringe holding. A recent survey revealed that nearly 8% of Americans own at least some Bitcoin or other form of cryptocurrency, and another 7.76% indicated that they planned to…
16
04, 2018
A couple reviewing estate planning documents, highlighting Charitable Remainder Trusts as a strategy in elder law to achieve philanthropic goals and secure financial stability for beneficiaries.

Benefits of a Charitable Remainder Trust

April 16, 2018
Even if you haven’t yet invested in estate planning, you’ve probably heard of Charitable Remainder Trusts (CRTs). When you visit your favorite non-profit’s website or receive a solicitation letter from your alma mater, you may see a pitch for the…
17
02, 2018
Image depicting estate tax planning essentials, highlighting the importance of strategic financial planning for families despite higher federal estate tax exemptions.

Federal Estate Tax Exemption Increases, but Tax Planning is Still a Must

February 17, 2018
New Jersey residents got relief from state estate taxes earlier this year. After a multi-year step-down process, state estate taxes were wholly eliminated for those who died on or after January 1, 2018. Now, the federal government has raised the…
30
12, 2017
A senior couple sitting at a table with financial documents, discussing their retirement income tax exclusion options in New Jersey.

Understanding the New Jersey Retirement Income Tax Exclusion   

December 30, 2017
New Jersey has long provided state income tax exclusions for pensions and other retirement income. The state doesn’t tax Social Security benefits at all, and even provides a special exclusion for taxpayers aged 62 and up who are not eligible…
04
12, 2017
Image showing 2018 tax planning changes, highlighting New Jersey's repeal of the estate tax effective January 2018, relevant to estate planning and elder law topics.

No New Jersey Estate Tax after December 31, 2017

December 4, 2017
In 2016, the New Jersey legislature repealed the state’s estate tax, but phased in the change. For those who passed away during calendar year 2017, there was a significant bump in the exemption. Prior to 2017, New Jersey estate tax…
18
10, 2017
A thoughtful individual reviewing estate planning documents to avoid common mistakes, emphasizing the importance of wills and provisions for disability.

Avoid These 8 Common Estate Planning Mistakes

October 18, 2017
The most common and most significant estate planning error is failing to plan at all. About half of U.S. adults don’t even have a will, arguably the most basic estate planning document. Unfortunately, many of those who have taken basic…
10
09, 2017
A concerned grandparent holding a savings jar, symbolizing the complexities of the kiddie tax when leaving an IRA to a grandchild.

Be Aware of the Kiddie Tax Before Leaving an IRA to Children

September 10, 2017
Grandparents may be tempted to leave an IRA to a grandchild because children have a low tax rate, but the "kiddie tax" could make doing this less beneficial.An IRA can be a great gift for a grandchild. A young person who inherits…
07
07, 2017
Senior couple reviewing IRS documents at home, exploring payment options and uncollectible status for managing back taxes.

Owe Back Taxes? The IRS May Grant You Uncollectible Status

July 7, 2017
Sometimes seniors find themselves owing past-due federal taxes they cannot afford to pay.  Although notices from the IRS can be especially frightening, there are solutions.If the sum owed is less than $50,000, the IRS will accept monthly payments over five…
27
06, 2017
A group of potential heirs and beneficiaries gathered in a family meeting, discussing estate planning and asset protection strategies to secure their financial future, addressing concerns such as debts and lifestyle risks.

The sun has risen again. How you and your family can benefit from a (legal) late portability election.

June 27, 2017
The concept of “portability” is still relatively new in the law of estate planning, having become available only after 2011. Since then, it’s been both a blessing (for its tax saving benefit) and a curse (because of rules that seemed…

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