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Category: Estate Planning

02Jun

Changes for the Gift Tax and Estate Tax

Posted by markelderlawon June 2, 2023June 2, 2023in Estate Planning
grandparents watching granddaughter color at table

Prior to 2023, the maximum amount that a person could gift without filing a gift tax return was $16,000 per person.  If an individual transferred gifts worth more than $16,000 to one person in a year, then the person who…

Read More Changes for the Gift Tax and Estate Tax

06May

Increase in Exemption from Federal Estate Tax

Posted by markelderlawon May 6, 2022May 6, 2022in Estate Planning
elderly man getting tax services

The federal government has an estate tax that applies to estates that are worth a significant amount.  New Jersey used to have an estate tax but it was phased out.  In 2017 the exemption from the New Jersey estate tax…

Read More Increase in Exemption from Federal Estate Tax

08Apr

IRS Increases Annual Exclusion for Gifts

Posted by markelderlawon April 8, 2022in Estate Planning
parents and children smiling

If you provide too much money as a gift to someone during a year then you may have to file a gift tax return with the IRS.  The gift tax return is known as Form 709.  If the total gifts…

Read More IRS Increases Annual Exclusion for Gifts

04Feb

No Contest Provision in Will

Posted by markelderlawon February 4, 2022in Estate Planning
Elder care client signing Will

Many Wills include a provision that provides for the forfeiture of a beneficiary’s rights to receive an inheritance if he or she contests the Will.  According to a New Jersey Supreme Court decision that was rendered approximately 40 years ago,…

Read More No Contest Provision in Will

29Oct

Life Estate Is Not Subject to a Medicaid Lien

Posted by markelderlawon October 29, 2021in Estate Planning
senior man hiking in Fall elder care

According to N.J.A.C. 10:49-14.1 (n) (1), the State of New Jersey is not allowed to impose a Medicaid lien against a life estate. According to both federal and state law, the State of New Jersey is required to impose a…

Read More Life Estate Is Not Subject to a Medicaid Lien

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Recent News

  • Changes for the Gift Tax and Estate Tax
  • National Elder Law Month 2023
  • Changes in Medicare Part B Premium for 2023
  • Medicare Changes Daily Co-pay
  • Medicaid Income Cap 2023
  • Medicaid Changes the Maximum Spousal Support for a Healthier Spouse

Tags

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Categories

  • Estate Planning
  • Life Insurance
  • Long-Term Care
  • Medicaid
  • Medicare
  • Nursing Homes
  • Social Security
  • Trusts

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Law Office of Donald B. Mark
64 Warwick Road
Stratford, NJ 08084
(856) 435-0620

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  • Practice Areas
    • Financing Long-Term Care
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