Estate Planning – Changing as We Age (Part 4)
Last week I was telling you why the New Jersey probate process can be easy but the tax waiver system designed to protect the State’s ability to collect estate and inheritance tax can tie up your money for years. That’s because the law requires financial institutions to freeze ½
Estate Planning – Changing as We Age (Part 3)
Last week I was talking about what we call senior estate planning and something called a tax waiver. New Jersey probate – the process of administering an estate after someone dies – is easy in some respects but not so easy in others. Let’s go back to Jack and
Estate Planning – Changing as We Age (Part 2)
Last week we were talking about how estate planning and what’s in your legal documents need to change as you age. Our hypothetical couple, Jack and Diane, have reached their 60’s. The focus of their plan needs to shift to what we call senior estate planning. One of the
The Bank Told Me I Need a Tax Waiver (Part 2)
Last week we were discussing George’s problem in helping his mother gain access to one of his dad’s accounts after his dad recently passed away. The bank won’t permit her to tap into the account without a tax waiver. The tax waiver protects New Jersey’s interest by insuring that it’s estate