As of 2016, each person has an aggregate $5.45 million exemption from the federal gift and estate taxes.
In general, the time limitation to file a lawsuit in the State of New Jersey is quite lengthy. For instance, an action related to a Breach of Contract matter would extend for six years from the date of the breach, whereas a Personal Injury matter may be filed two years after the cause of action accrued.
It is not uncommon for one child out of many to receive gifts from a parent during the parent’s lifetime.
Probate fees do not, on the whole, cause much consternation.
For good reasons family businesses often use a family name in their business names.
Can you unduly influence someone NOT to take an action? In nearly all Trust and Will disputes, an undue influence claim is brought to overturn a Trust or Will that was executed while the elder was unduly influenced.
If an Executor fails to properly administer an estate, it can have severe repercussions for the beneficiaries. An Executor has broad authority to control all aspects of an estate.
Beginning in late 2015, a new type of Roth Retirement Account, guaranteed by the government never to lose value, was offered to savers who earn less than $131,000 per year, individually, and less than $193,000 per year as a couple.
Class action law suits and Department of Labor enforcement initiatives have created a 401(k) fee state of mind for fiduciaries.
Two recent acts of Congress (including the rather interestingly named Protection of Americans from Tax Hikes Act) created new audit rules for partnerships.