New Jersey Senior Estate Planning Strategies
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New Jersey Senior Estate Planning Strategies

Estate Planning

New Jersey Senior Estate Planning Strategies

Estate planning is a process for seniors who want to assure that their assets are distributed according to their own wishes while, at the same time, minimizing the tax burden on their beneficiaries. In New Jersey, the specifics of state laws and regulations can significantly influence the strategies that seniors should consider. This blog explores key considerations and strategies for New Jersey senior estate planning, tailored to help you navigate the Garden State's unique legal landscape. Understanding New Jersey Estate Taxes and Laws One of the first steps in New Jersey senior estate planning is to understand the state-specific tax [...]

Rothkoff Law Group2025-01-15T18:18:42-05:00January 16, 2025|

Elder Law and Estate Taxes in New Jersey and Pennsylvania

Elder law and estate taxes are critical areas of financial planning that significantly impact seniors and their heirs in New Jersey (NJ) and Pennsylvania (PA). As individuals age, developing strategies that secure their future and ensure that their legacy is passed on to their heirs with minimal tax implications becomes imperative. This blog explores how elder law strategies can impact estate taxes in PA and NJ, offering valuable tips for minimizing tax liabilities for seniors and their heirs. Understanding Elder Law and Estate Taxes Elder law encompasses a range of legal matters affecting older adults, including guardianships, wills, trusts, estate [...]

Rothkoff Law Group2024-09-27T12:25:55-04:00September 26, 2024|

The Pennsylvania Inheritance Tax Explained

Who knew that the Commonwealth of Pennsylvania is one of only twenty United States jurisdictions which collect a state death tax? For the Pennsylvania resident decedent, regardless of whether the beneficiaries live in Philadelphia, Bucks, Montgomery, or Delaware Counties, or beyond the borders of the Commonwealth, the Pennsylvania Inheritance tax will likely impact any inheritance. In this blog, The Pennsylvania Inheritance Tax Explained, we answer eight of the most commonly asked questions. 1. I already filed the decedent’s taxes on April 15th. Why do I need to file a Pennsylvania REV-1500? Comparing income taxes to state death taxes is like [...]

Rothkoff Law Group2024-07-29T11:55:02-04:00September 30, 2016|