Life’s Certainties: Death and Taxes

Author: Wolfe Ossa LawCategories: Estate, Trust, Wills

  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 However, as of 2018, the estate tax was completely repealed, leaving only the lesser-known inheritance tax.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

Author: Wolfe Ossa LawCategories: Elder Law, Estate, Probate Law, Wills

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 …