Trusts & Estates
The Refunding Bond and Release
Posted in Probate Litigation, Trusts & Estates
What is a Refunding Bond and Release? If you are beneficiary of an Estate, at some point you will be asked to sign a Refunding Bond and Release prior to receiving your bequest from an Estate. The logical question that will arise is what exactly you are being asked to… Continue reading
Types of Guardianships in New Jersey
Posted in Probate Litigation, Trusts & Estates
If you are considering seeking a guardianship of an individual or have been named as an interested party to such an application, it’s crucial that you understand the types of guardianship that exist in the State of New Jersey. This knowledge will empower you to make informed decisions. In general,… Continue reading
What is Undue Influence in the Context of a Will Contest?
Posted in Probate Litigation, Trusts & Estates
During a Will contest, a party challenging a Will may assert that the Will was the product undue influence being exerted over the decedent by the party who benefited by the disputed Will. The question arises: What is what is undue influence and how can it be demonstrated? This blog… Continue reading
Don’t Let the 2024 Estate Tax Basic Exclusion Amount Make You Complacent
Posted in Trusts & Estates
The Internal Revenue Service recently published Rev. Proc. 2023-24, setting forth inflation adjusted items for 2024. For decedents dying in 2024, the basic exclusion amount for federal estate tax purposes has been increased to $13,610,000. While many individuals may feel comfortable that their estate will not be affected by a… Continue reading
Exploring Current Popular Topics in Estate Litigation in Pennsylvania
Posted in Litigation, Trusts & Estates
Estate litigation in Pennsylvania encompasses a range of legal issues arising from the distribution and administration of an individual’s assets upon their death. As the legal landscape evolves, certain topics emerge as popular areas of dispute within estate litigation. In this blog post, we will explore some of the current… Continue reading
How Do I Get a Guardianship
Posted in Trusts & Estates
The purpose of this article is to discuss the general process for being appointed the guardian of a loved one or other family member. The process can be simple or complicated depending upon a multitude of factors. This article will discuss the general process; whereas future articles will explore issues… Continue reading
Important Estate Related Proposals and Changes for 2022
Posted in Trusts & Estates
This year has brought several interesting changes and important proposals that can affect many estate plans. We have held seminars covering two major issues: the IRS Proposed Regulations affecting qualified retirement plans and IRAs; and the Administration’s proposed changes to the Federal Estate and Gift Taxes. If you did… Continue reading
The Annual Exclusion for Gift Taxes has Increased to $16,000 – What Issues Should I Consider?
Posted in Trusts & Estates
In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. Although there is near-universal acceptance of the importance of gifting, there are several issues you should consider before making any gifts. The manner in which gifts are made can have a major impact on… Continue reading
Do Not Forget the Importance of Gift Provisions in a Power of Attorney
Posted in Trusts & Estates
Gift provisions in a power of attorney can limit both agents and guardians, and restrict their ability to make gifts if a need arises. For this reason, powers of attorney should be carefully drafted to include appropriate gifting authority. A recent New Jersey Appellate Division case underscores the importance of… Continue reading
Don’t Forget New Jersey Taxation of IRAs, 401(k)s and 403(b)s
Posted in Trusts & Estates
The federal tax treatment of IRAs, ROTH IRAs, 401(k)s, and 403(b)s has been the subject of countless books, articles, seminars, and commentary. But, there is precious little regarding the New Jersey state income taxation of these accounts, which is often vastly different. Understanding New Jersey taxation rules is important, not… Continue reading
