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: 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…
Medicaid Does Not Allow Gifts of $15,000 Per Year
If a person provides gifts within five years of the Medicaid application, then the County Board of Social Services will presume that those gifts were provided for Medicaid planning. The individual who provides gifts within five years of the application…
Law Office of Donald B. Mark 