At the beginning of next year the estate tax exclusion is being reduced from $5.12 million to just $1 million. At that time the maximum rate of the tax is going to change as well under currently existing laws. Right now we're looking at a 35% top rate; in 2013 it goes up to 55%. When you are calculating your total assets in an effort to assess whether or not you are in taxable territory you must include the value of your home. Using 2009 figures the median cost of a freestanding residence in … [Read more...] about As New Year Approaches QPRT May Provide Solution
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New Jersey Estate Planning Information
Addressing estate planning and elder law issues is something that every responsible adult is going to have to do, and the sooner you get started the better. If you procrastinate your family will be left behind to sort everything out on their own if you were to pass away unexpectedly. And if the resources are not there for them to maintain their quality of life a devastating family tragedy becomes all the worse. And, with regard to elder law matters such as the need for long-term care you could … [Read more...] about New Jersey Estate Planning Information
