Current estate tax law demonstrates why it is so important to consult with a New Jersey estate administration and planning attorney. A deceased individual’s estate is entitled to an exemption from Federal Estate Tax currently in the amount of $12,060,000.00. However, since a surviving spouse pays no Federal Estate Tax…
A recent appellate New Jersey employment law decision in the case of In the Matter of F.S., Police Officer (S9999U), City of Jersey City outlines the procedures for appeals by applicants who were removed from a list of eligible candidates for civil service law enforcement or firefighter positions for psychological…
Except in the case of spouses, civil union partners and domestic partners, when a New Jersey resident dies owning a jointly held asset, whether it is real estate, stocks, bank accounts, etc., the entire value of the asset will be taxed as if it belonged to the decedent. If the…
A holographic will is a will that is handwritten, signed and dated by the testator (the person whose will it is). Under New Jersey estate planning Law, holographic wills can be probated and will serve to ensure that the Testator’s assets are bequeathed according to the Testator’s wishes. In fact,…
Many financial accounts provide the account holder with the option to designate beneficiaries. If a beneficiary is designated on a financial account, upon the death of the account holder, the assets to the account do not pass according to the provisions of the decedent’s Last Will and Testament, but instead…