http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php Type description here... en-us Wed, 13 Jan 2010 20:28:18 -0600 Wed, 13 Jan 2010 20:28:18 -0600 http://blogs.law.harvard.edu/tech/rss Warning: Your Decision Does Matter Fredrick P. Niemann, Esq., NJ Estate Plan Attorney When creating an estate plan, especially in your will and/or trust, an important decision is who to name as your fiduciary. A fiduciary is a fancy legal term for the person who will take care of your property for you if you are unable to do it yourself, such as the executor of an estate, the trustee of a trust, or an ... <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1247852400 NJ Probate http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1247852400 Fri, 17 Jul 2009 09:46:59 -0500 In a recent legal memorandum, the IRS stated that it can assess, under IRC Sec. 6695A, a gross valuation misstatement penalty against an appraiser for preparing erroneous estate- and gift-tax appraisals after May 25, 2007.&nbsp; The Pension Protection Act of 2006 (P.L. 109-280) added IRC Sec. 6695A to the tax law.&nbsp; Generally, it states that if (1) a person prepares an appraisal and knows, or reasonably should have known, that ... <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1245856751 Estates http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1245856751 Wed, 24 Jun 2009 11:22:22 -0500 Widows and widowers who don’t want to sell their house right away will get a tax break under a new law. The law gives surviving spouses two years to sell their house and receive the full $500,000 capital gains exclusion that married couples are entitled to. Couples who are married and file taxes jointly can sell their main residence and exclude up to $500,000 of the gain from the sale from their gross income. Single ... <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1244582100 Estates http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1244582100 Wed, 24 Jun 2009 11:22:07 -0500 Once you've taken the step to create a will and get your estate plan in order, you need to figure out what to do with the will itself. It is important to keep track of the location of your current will as well as any old wills. Where to keep a will The safest place to keep the original copy of your will is in a bank safe deposit box. If you keep the will at ... <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1244581500 Wills http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1244581500 Wed, 24 Jun 2009 11:21:36 -0500 Gift Tax Returns - The same general rules applicable to income tax returns apply to annual gift tax returns. That is, a 3-year statute of limitations applies to the initiation of an audit. The IRS has issued regulations describing substantiation requirements to ensure the protection of the statute of limitations for gift tax purposes. At this time, we have no cases or rulings on these new requirements. It is possible that the IRS could challenge ... <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1243443900 Estates http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1243443900 Wed, 24 Jun 2009 11:20:40 -0500 For more information about probate and estate administration, estate tax planning or estate/trust litigation, click here : If a spouse dies, then the surviving spouse may elect to take a one-third share of the deceased’s estate. This is called an elective share. Basically, a spouse can’t be disinherited. The surviving spouse has a right to the elective share. The only way that a surviving spouse can be completely disinherited is through a prenuptial agreement, where both spouses ... <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1242410700 NJ Probate http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1242410700 Wed, 24 Jun 2009 11:19:57 -0500 What is Probate? Probate is the court process for gathering a decedent's assets, paying taxes and claims, and distributing assets to the beneficiaries. Generally probate is only necessary when a person dies with assets in his or her own name alone. Assets in a living trust, jointly held or with a beneficiary designation do not have to go through probate. Probate has a bad reputation. Sometimes rightfully so, but not always. <br clear="all"> http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1241621810 NJ Probate http://www.probateattorneyinnewjersey.com/documents/newjerseyprobateblog.php?entry_id=1241621810 Wed, 24 Jun 2009 11:18:06 -0500