2007 Year-End Tax Planning Tips

- By : P. Patel

Year-End Tax Planning Tips Due to uncertainty over the pending “extender” legislation, this year may prove to be more challenging than usual.We expect Congress to provide another one-year patch to assure that moderate incomes are not entrapped by the Alternative

Sale of Real Property from an Estate

- By : P. Patel

There are some special issues to consider when the seller of real estate is the estate of a decedent. Real estate held by a decedent’s estate is subject to liens for the payment of any New Jersey Transfer Inheritance Tax,

Anna Nicole Smith: A Model for Bad Estate Planning

- By : P. Patel

Anna Nicole Smith rose to fame as amodel for Guess Jeans and Playboymagazine. Now, her death has givenher newfound fame as a great model forterrible estate planning.Forget the fact that you can’t visit asupermarket without seeing gossip abouther life and

Will the Estate Tax Be Resurrected?

- By : P. Patel

When the unknowable meets the possibly very expensive, it pays to plan ahead A BURGEONING FEDERAL budget deficit may force the early expiration of a tax law that has cheered business owners for years. But experts say early planning may

10 Most Frequently Asked Questions and Answers for Stretch IRAs

- By : P. Patel

What is a stretch IRA? Stretching an IRA is simply the ability to have an IRA live longer than the account owner. A stretch IRA is an IRA that uses beneficiary designations to enable assets to continue to grow tax

Estate Planning for Families with Special Needs Children

- By : P. Patel

Families with special needs children must exercise extra care in making their estate plans. This is true whether their special needs child is still a minor or now an adult, and particularly so when the child is – or in

Selection of the Trustee of a Special Needs Trust

- By : P. Patel

There are obviously many important considerations to ponder when designing an estate plan for a beneficiary who has special needs. But the most important issue in the planning process is picking the person or persons who will be in charge

Asset Protection – Don’t Do It Yourself

- By : P. Patel

Jonathan Alper in the Florida Asset Protection Blog has a great post on how standard off the shelf LLC and estate planning forms by non-experts will generally not protect your assets from lawsuits. A well-conceived asset protection plan can fail

Watch Out: The NJ Inheritance Tax

- By : P. Patel

New Jersey imposes a transfer Inheritance Tax, at graduated rates, on property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent’s death occurs on or after January 1, 1985, property

Asset Protection Mistakes – 13 Tips

- By : P. Patel

These days, just about everyone should take care to protect their assets from possible lawsuits or other problems. Here are 13 things to watch out for: 1. Don’t keep money in a joint account, even with a spouse. 2. Don’t