Increased Estate and Gift Tax Exemption Set to Expire at the End of 2025
In 2017, the gift and estate tax exemptions increased sharply based on a law passed in Congress. This meant that many estates that previously would have been subject to taxation no longer were. Since then, Americans have drafted wills, established trusts and implemented gift-giving strategies based on the higher exemption amounts. However, the law that […]
Who is Subject to Inheritance Tax in New Jersey?
While the estates of all Americans are subject to federal taxation if the value transferred to heirs exceeds the statutory exemption amount, not many states have separate inheritance taxes. However, New Jersey is one of those jurisdictions, so it is important for Garden State residents to understand when an inheritance tax is applied as you […]
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