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Wills & Estates

Estate Planning in NJ: What to Expect

Death is understandably not high on the list of most people’s favorite topics of discussion. But it is, of course, something all of us can expect to experience. And since we all have to admit that it’s coming, it is an important responsibility to plan ahead for the inevitable.

Estate planning is the process of determining what happens to your assets after your death, and regardless of the size of those assets, establishing a plan for your estate can provide crucial peace of mind to you and your family – and help to avoid the potential for conflict and estate litigation.

A Chance to Win a Free Last Will and Testament!

a presentation table with pens, forms, and business cards on display.

Gruber, Colabella, Liuzza and Thompson attorneys attended the Sussex County Chamber of Commerce Business Expo at the Crystal Springs Country Club.

The event was an opportunity for our firm and other local business to showcase what we can offer the local community of Sussex County and network. Everyone that had a chance to attend the event was offered the opportunity to win a FREE Last Will and Testament prepared by one of our experienced attorneys.

Estate Planning: Still a Must Do!

a book titled estate planning law and a gavel with glasses and a pen

New Jersey Estate Planning

As of January 1, 2018, there is no estate tax in New Jersey. This means that your heirs will not have to pay to New Jersey a tax based on the value of your estate.  Many people mistakenly believe that because the estate tax was alleviated that they no longer need to do any estate planning or even have a will. However, at minimum, an individual should have a Power of Attorney, Advanced Directive and a Last Will and Testament.

Say Goodbye to New Jersey Estate Tax

House and Money

New Jersey is one of only two states that collect both an inheritance tax and estate tax at the time of the transfer of assets upon an individual’s passing. However, on October 14, 2016, Governor Christie signed a bill increasing the exemption amount for payment of estate tax for one year and thereafter, for a total elimination of the estate tax.