New Jersey Estate & Elder Planning Blog: Taxation & Estate Planning

Home -> Law Blog Directory -> Taxation & Estate Planning Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Taxation & Estate Planning

New Jersey Estate & Elder Planning Blog

Thoughts and comments on Business, Estate and Elder Law
By Deirdre R. Wheatley-Liss, Esq.

Post Frequency: 0.7/day

Last Entry: April 01, 2011 at 10:46:55

America's Billionaires are Giving it Away

Posted on August 05, 2010
2010 is the year of no estate tax. It only goes to follow that the wealthiest of all Americans are rejoicing that they need not share their wealth with others, and can go back to counting their coins without worry about the government asking for their share, right? Wrong...

The 14th Amendment is up for Debate? Seriously?

Posted on August 04, 2010
There is a lot of noise coming out of Washington this week that we need to re-examine the 14th Amendment to the US Constitution. What? Excuse me? I shook my head when I read these headlines, not seeing where this could possibly be coming from...

Checkup on Gov. Christie's 88 Campaign Promises

Posted on August 02, 2010
It is indisputable that Governor Chris Christie has been cutting a path through New Jersey's fabric since January. Whether a support, a detractor, or somewhere in between, this administration has and will continue to effect all New Jerseyans in material ways...

Protection for Seniors in new Financial Reform Act

Posted on July 29, 2010
The new sweeping Dodd-Frank Wall Street Reform and Consumer Protection Act singed into law on July 21 promises to be greatest change to the United States financial system since the Great Depression. With the press covering how the changes will impact Wall Street firms and advisors, not much notice has been given to some very specific provisions effecting seniors...

To access this complete feed in the blog feed reader login or register for free.

Your Online Afterlife

Posted on July 27, 2010
What happens to your Facebook chats, Flickr photos,LinkedIn connections, and Twitter witticisms when you die. Will your friends and family have access to your "digital memory"? The short answer: "No". in fact, getting friends and family access to your passwords, and thereby your social media identity, is most likely strictly forbidden in the privacy policies of the social media venues you frequent...

Holographic Wills and Undue Influence - Watcha talkin about Willis?

Posted on July 26, 2010
Actor Gary Coleman's life and death were tragic in many ways. Unfortunately, some of circus that engulfed his life followed after death due to confusing estate planning, as an article by Jun Li at Celebrity Justice highlights (quoting yours truly)...

Opposing Views on the Estate Tax / Death Tax

Posted on July 19, 2010
USA Today has two stories running today - one Our view on death and taxes: Loopy estate tax policy highlights D.C. dysfunction, and the other Opposing view on death and taxes: End the 'death tax'. Both totally miss the point that there is a tax as a result of death no matter which way you lean - an estate tax would be assessed immediately, or there will be capital gains taxes to pay for decades to come...

NJ Division of Taxation has a New Acting Director

Posted on July 14, 2010
The State recently announced that Michael H. Bryan will be the new Acting Director of the New Jersey Division of Taxation. Per the press release, Bryan is to lead the Division of Taxation in the direction of enhanced communication and support with taxpayers...

Montclair State University Planned Giving Advisory Council

Posted on July 12, 2010
I am delighted to have been asked to serve on the Montclair State University Planned Giving Advisory Council. Through some of my sons activities I have had the opportunity to spend numerous hours on the beautiful campus of this hidden gem of New Jersey...

Reverse Mortgages getting more competitive IF you are a savvy shopper

Posted on July 06, 2010
The Wall Street Journal recently ran "Reverse Mortgages Look Better" with the premise that the consumers position has changed from learning about reverse mortgages to shopping for the best product for them. Upfront fees on reverse mortgages have fallen substantially in recent months, giving homeowners interested in this product a new challenge: how to compare offers to find the best one...

The Progressive Underpinnings of the Estate Tax

Posted on June 29, 2010
Why is there an estate tax at all? An interesting article in The Nation "The Plutocracy Prevention Act" explores the ideological underpinnings of the enactment of the federal estate tax in 1916. A century ago this summer, Theodore Roosevelt gave his remarkable "New Nationalism" speech about the dangers of concentrated wealth and corporate power...

Are Americans Overtreated to Death by the Medical Establishment?

Posted on June 28, 2010
A truly valuable article from the AP today "Americans are treated, and overtreated, to death". The article stares down a hard question - When do we stop focusing on a cure and start caring about how we die? The statistics are disturbing: Americans increasingly are treated to death, spending more time in hospitals in their final days, trying last-ditch treatments that often buy only weeks of time, and racking up bills that have made medical care a leading cause of bankruptcies...

Estate Tax News from Washington

Posted on June 25, 2010
A new estate tax reform solution has been proposed by Sen. Bernard Sanders, Tom Harkin and Sheldon Whitehouse billed the Responsible Estate Tax Act. According to Steve Leimberg, this newest estate tax proposal is structured as follows: ....

Jailed Convicts v. Seniors in Nursing Homes - Who has the better deal?

Posted on June 14, 2010
I already tweeted this great post from South Carolina Nursing Home Blog, but it has been sticking with me. All seniors have done is work hard their whole lives, age, and not have planned to need to spend $10,000 a month on the care they need to stay alive - and for that they get institutionalized in a nursing home...

Reverse Mortgage Basics - A Tool to be Reconsidered

Posted on June 10, 2010
Are reverse mortgages great for every senior? No. However, they can be a very useful tool to many seniors that is often overlooked as the senior and their family have read and heard stories about bad experiences with reverse mortgages. A reverse mortgage itself is neither good nor bad - it is a tool that may or may not help fix a problem...

IRS Open House on Saturday June 5

Posted on June 02, 2010
Local IRS offices will be open on Saturday June 5 to help individuals and small business owners resolve tax issues at a time that is convenient for them. NJToday.net reports: 'In New Jersey, nine IRS offices will be open June 5 from 9 a...

Pre-Paid Funerals - Buyer Beware?

Posted on May 24, 2010
Over the weekend the Wall Street Journal ran When Prepaid Funeral Plans Are Wealth Killers subtitled "Long Pitched to People of Lesser Means, the Controversial Deals Are Going Upmarket—and Now May Carry Bigger Risks". Prepaid funerals at the heart are just what they say - you pay now for your funeral upon your death...

What's Cooking with the Estate Tax

Posted on May 20, 2010
Senators in Washington are stirring the pot about what to do about the federal estate tax, but as NASDAQ reports, no consensus is near. Options in play: Do nothing - The federal estate tax return in 2011 with a $1 million per person exemption and a 55% rate...

User's Guide to Health Care Reform

Posted on May 18, 2010
AARP has put out a comprehensive and user friendly Guide to Health Care Reform that everyone should take a look at. Regardless of what you think about the new health care legislation, the fact is that it will effect you - as an employer, a parent, a student, a worker or a retiree...

Some States Provide a Fix for Deaths in 2010

Posted on May 10, 2010
Now that May of 2010 is upon us and there is still no federal estate tax finality, we can begin to look at the situations that families are facing where loved ones have passed since January 1. A key issue is that their estate planning documents (wills or trusts) may not make sense in 2010 where there is no estate tax...

State Death Tax Chart

Posted on May 06, 2010
In doing some client research I came across a great resource "State Death Tax Chart" published by the law firm McGuire Woods. State death tax can be relevant no matter where you live, because it could apply to: Real estate you own in another state The consequences for beneficiaries who reside in another state Where you may want to consider relocating your residence to Questions about a parents estate who lives somewhere else in the country The chart is updated through March 2010.

New Incentives to Retire Early - Government will offset Employers Paying Continued Health Care Costs

Posted on May 04, 2010
The Obama Administration reports today that they will subsidize employers who are providing medical benefits to "early retirees". The issue is that Medicare kicks in at age 65. Given the costs of private health insurance, older, and sometimes most highly compensated, employees are delaying their retirement because they can't afford to fully privately pay health care until age 65...

2010 Tax Basis Rules and Medicaid Planning - What happens to my Life Estate?

Posted on May 03, 2010
The estate tax changes in 2010 are not only playing havoc with estate plans, but asset protection planning for those concerned with long term care costs as well. I came across this informative article "Which Pre-2010 Medicaid-Oriented Transfers of Homes Get a Step-up in Basis under the Modified Carryover Basis Rules?" by Massachusetts attorney Brian E...

Best Nursing Homes Ranked 2010

Posted on April 26, 2010
US News and World Reports has ranked the best nursing homes in America for 2010. Unfortunately, not an single one in the Top 12 is in New Jersey. However, the data gathered to produce the Honor Roll of Nursing Homes is all available online for you to search rankings of all senior care facilities in your area...

Caring for the Caregiver

Posted on April 22, 2010
The caregiver cares for the ill and needy, but who cares for the caregiver? Family Fortress Estate Planning Blog has an interesting post this week about "Help For Caregivers: 10 Steps Toward Taking Care of Yourself". A staggering statistic: The number of people serving as caregivers has exploded in recent years, and according to PR Newswire the number of caregivers now tops 65 million people (29% of the population of the US...

Consider Becoming an Organ Donor in New Jersey

Posted on April 20, 2010
April is Donate Life Month and New Jersey is asking residents to consider becoming organ donors. National 'Donate Life Month' is the perfect time to consider the difference you can make in the lives of others through organ donation,' said Health and Senior Services Commissioner Alaigh...

New NJ Case - Life Care Contract Deemed to be a Gift for Medicaid

Posted on April 16, 2010
A basic question in determining Medicaid eligibility is "Did you make a gift in the past 5 years?" If the answer is "Yes" a penalty period will be assessed before a person qualified for Medicaid. A key distinction is that a transfer for fair market value is not a gift...

Quick Highlights of Health Care Legislation

Posted on April 12, 2010
The new health care legislation is massive - over 2000 pages. It will be years before many questions are answered, but has an immediate effect on all of us. I got this summary of quick highlights from Steven Kaplan, CPA, JD, LL.M at Sax Macy, Fromm & Co...

47% American Households Pay No Taxes - Something is Wrong with this Picture

Posted on April 07, 2010
A lead story in my Yahoo news today is "Nearly half of US households escape fed income tax". "This can't be right" I am thinking as I open the link, but boy was I wrong. According to the Tax Policy Center "About 47 percent [of American Households] will pay no federal income taxes at all for 2009...

NJ Taxpayers May Have Extended Tax Filing Date of May 11

Posted on April 06, 2010
A silver lining has been offered by the IRS to some of us who have been battered by spring storms and flooding. New Jersey taxpayers in 12 counties have an additional 4 weeks to file their taxes to address the severe flooding those counties have faced...

Previous | Next

Related Law Bulletins

Eminent Domain in New Jersey Seminar on April 17 in New Brunswick
Eminent Domain in New Jersey will be presented by Lorman Education...

New Jersey Eminent Domain Seminar Update
The Eminent Domain in New Jersey Lorman Education seminar schedule...

More testimony for New Jersey eminent domain reform
“There’s no such thing as a perfect bill…Everyd...

Delaying New Jersey's Eminent Domain Reform
“Don’t cripple eminent domain”  in the New ...

New Jersey Legal Update - Podcast # 57
This week's New Jersey Legal Update podcast will address federal l...