New Jersey previously imposed two death taxes – estate tax and inheritance tax. However, as of 2018, the estate tax was completely repealed, leaving only the lesser-known inheritance tax. Inheritance taxes are based upon the beneficiary’s relationship to the decedent. New Jersey categorizes beneficiaries into “classes.” The specific class that a beneficiary falls into …
Inheritance Tax
Inheritance Tax Inheritance tax is exactly what it sounds like: tax paid on your inheritance. Depending on what your relationship is to the decedent, you could owe the State taxes. This is different from Estate Tax, which New Jersey recently did away with. You can read all about that here. We’ll talk a little more about …
Plan now so you don’t have to worry...
Plan now so you don’t have to worry about the future. Estate planning isn’t just about money – it’s about developing a plan that will ensure that personal and financial decisions can be made during your lifetime, and that your wishes are carried out after you’re gone. Whether you need basic planning, such as a …
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What can I do to protect everything...
There are so many questions that can come up when thinking about how to prepare for the later stages of life for ourselves and our loved ones. To assist you throughout the process, we’ve compiled a list of the top 6 FAQs from our clients. 1. What is Estate Planning? Here, at Wolfe Ossa Law, …
How Estate Planning Can Reduce Your...
There’s something relieving about planning for your future — especially if you can seek support to make it that much easier. Like that one time you tried to Google “how to write a will” and still didn’t know what to do next and gave up all together. The next time you thought about it, you …
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The Forgotten Estate Planning Docum...
Power of Attorney & Advanced Health Care Directive Power of Attorney and Advanced Healthcare Directive (also known as the Living Will) are two of the essential estate planning documents. People are often familiar with Wills, but do not understand the significance of the Power of Attorney and Advanced Healthcare Directive. Clients sometimes hesitate to have …
