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…
Tag: estate tax
Estate Tax Exemption Increases for 2021
There is a federal estate tax that applies to those estates that are worth a significant amount. The exemption from the federal estate tax has increased continuously since 2002. Prior to 2002, the exemption from the federal estate tax was…
Seek Legal Advice before Gifting Assets
If significant assets are transferred to a child, then there will be a tax and estate planning ramifications from the transaction. The transfer of funds may prevent the parent from obtaining Medicaid assistance to pay for needed long-term care. In…
Law Office of Donald B. Mark 