Inheritance tax will be the last remaining “death tax” In New Jersey, as of January 1, 2018. On that date, the state’s estate tax will disappear. New Jersey Inheritance Tax   The “Transfer Inheritance Tax” is assessed against inheritances received by certain classes of people.  There are four classes: Class A beneficiaries: father, mother, grandparents, children,…

The Facebook “Hard Questions” blog recently addressed the issue of what should happen to people’s online identity when they die.  https://newsroom.fb.com/news/2017/08/what-should-happen-to-online-identity/ This is a wonderful article expressing the emotional and practical issues surrounding one’s online postings after death and how, at least one company is grappling with solutions, while waiting for the law to catch…

Can the terms of a Will be changed to make them “fair”?  Let’s say that a parent has died.  Under the terms of the parent’s Will, one of four children is disinherited.  The child and parent did not get along, and, for good reason.  The parent was a bit unreasonable in the eyes of all…

A Complimentary Presentation by: Robert J. Shanahan, Jr., Esq. New Jersey Attorney at Law, Concentrating in Estate Planning and Elder Law June 9, 2017, 1:00 p.m. Hunterdon County Senior Center, Route 31 County Complex 4 Gauntt Place, Building # 1, Flemington NJ 08822 (908)788-1359 Passing on personal possessions is an issue for everyone! Owners of…

There is growing confusion over when an executor must obtain a New Jersey Inheritance Tax Waiver to close a bank or investment account. My executor clients in Hunterdon County are reporting that banks are requiring tax waivers to close or transfer an account. In nearly every case, the bank is incorrect. What are New Jersey…

Remember Joan Rivers? “Can we talk?” Can we? Why Do You Do It? Why do people try to handle legal matters on their own, without a lawyer? You know what’s going to happen. They are going to wind up in some lawyer’s office later with a problem; a big problem; a problem that could have…

I know that you are only trying to help.   When a client comes in and tells you that their spouse has died, your first instinct is to help your client through a difficult time. You may open an estate account, move some assets into it. You may remove the deceased’s name from an account or…

I often receive calls from people who have just lost a loved one and want to know what to do. Often, these calls occur within two days of the event, and the callers are either “shell-shocked” or, understandably, upset.  They are very worried about how to pay bills, probating the last will, and moving/closing bank…

By: Robert J. Shanahan, Jr. Esq. Much has been said about the use of mediation as a tool to avoid long and costly trials in civil litigation over the past two decades. It has been proven as a useful tool in settling business and family law disputes, and even most small claims cases in our…

In New Jersey, and many other states, a surviving spouse has a right to one-third of a deceased spouse’s estate, despite provisions in the Will to the contrary. In other words, a you may disinherit your spouse in your last will, but he or she can assert the statutory elective share and still obtain one-third…