4 07, 2018

What is “Stepped Up Basis” and How Does it Affect Estate Planning?

2018-11-08T05:36:57-04:00July 4th, 2018|

Phrases like “stepped up basis” tend to make the average person’s eyes glaze over. Everyone wants to maximize wealth and minimize expenses such as tax obligations. And, they want to avoid unnecessary tax burdens for their heirs. But, that doesn’t [...]

17 02, 2018

Federal Estate Tax Exemption Increases, but Tax Planning is Still a Must

2018-02-17T14:12:48-04:00February 17th, 2018|

New Jersey residents got relief from state estate taxes earlier this year. After a multi-year step-down process, state estate taxes were wholly eliminated for those who died on or after January 1, 2018. Now, the federal government has raised the [...]

30 12, 2017

Understanding the New Jersey Retirement Income Tax Exclusion   

2018-02-02T22:10:32-04:00December 30th, 2017|

New Jersey has long provided state income tax exclusions for pensions and other retirement income. The state doesn’t tax Social Security benefits at all, and even provides a special exclusion for taxpayers aged 62 and up who are not eligible [...]

18 10, 2017

Avoid These 8 Common Estate Planning Mistakes

2018-02-02T22:10:33-04:00October 18th, 2017|

The most common and most significant estate planning error is failing to plan at all. About half of U.S. adults don’t even have a will, arguably the most basic estate planning document. Unfortunately, many of those who have taken basic [...]