It has been said that nothing in life is certain but death and taxes. This statement looks like it will continue to hold true; however, what is uncertain is what the estate tax will look like in the future. As many of you know, in 2001 President Bush changed the estate tax. However, his change […]
Asset protection planning is defined as the adoption of advanced planning techniques which will place assets beyond the reach of future potential creditors. It is not hiding assets, committing fraud or perjury, or engaging in fraudulent transfers. Today, asset protection planning is a concern for everyone. Many consider today’s social and economic environment both more […]
“…..but that has been my property for over thirty (30) years!” Does that statement sound familiar? The State of New Jersey has long recognized property rights to those who “take” control over property owned by others. This phenomenon is commonly known as claims for Adverse Possession or Prescriptive Easement. Unhappily, these situations are not all […]
As part of our long range plan for the law firm, last year we made a decision to substantially increase the sophistication and capacities of our firm in the area of tax, trusts and estates. As a result, we decided to completely reorganize and staff what used to be called our “Estate Planning and Elder […]
Pursuant to a New Jersey Statute passed in 2005, by January 1, 2008, every electronic voting machine in New Jersey is required to produce a paper record that will allow voters to verify that their votes were properly recorded. No vote will be recorded until the paper record is viewed and approved by the voter. […]
Ocean dunes have long been acknowledged as an established means for maintaining sandy beaches. Coastal experts, however, have various opinions as to whether these walls of sand truly protect the upland property owners against mother-nature’s ocean storms. Ocean dunes, nonetheless, receive great press. Year round property owners; for example, in Long Beach Island, New Jersey […]
Our regular readers know that I always recommend a person have a Will, Living Will and Power of Attorney. A Will distributes “probate assets”. However, if you currently own assets with another person or have an account that names another person as “POD”, “TOD”, “ITF” or otherwise establish a beneficiary, then such account is not […]
The 21st century is known by many as the “Technological Revolution,” with gadgets, gizmos and computers getting smaller, faster and better as each day passes. Recently, the New Jersey Supreme Court formally took into account the technology age when it adopted amendments to the court rules to deal with the special issues “E-discovery” presents. The […]
Over the last couple of years, the real estate closing has become more expensive and more burdensome thanks to the “Mansion Tax” and the filing requirements that go along with it. The Mansion Tax requires Buyers to pay a tax equal to 1% of the purchase price over $1,000,000.00. This became effective in July 2004 […]
Some of our business clients may have already experienced the effects of New Jersey’s Business Tax Reform Act of 2002, which went into effect last year. The new law has a substantial economic impact on all partnerships, limited liability companies (LLC’s), limited liability partnerships (LLP’s), and professional corporations, that derive income from New Jersey sources. […]