Last month the Treasury Department proposed rules that could dramatically impact estate tax planning. Specifically, the Treasury Department is planning to limit, or even eliminate, the use of "valuation discounts" for closely-held companies, LLCs and other assets. The...
Estate Tax
An unusual approach to estate tax planning
On behalf of Michael A. Manna & Associates | Jan 3, 2016 | Estate Tax
Many New Jersey families are interested in ways to reduce their estate tax obligation. While there are a number of ways to reach that goal, some are more creative than others and can benefit multiple members of the same extended family. An example lies in a practice...
A bypass trust can reduce estate tax obligation
On behalf of Michael A. Manna & Associates | Dec 11, 2015 | Estate Tax
Many New Jersey families are looking for ways to reduce their estate tax burden. One option for married couples lies in using a bypass trust to hand down retirement savings. In order to make use of this tool, it is important to understand how these trusts work and how...
How insurance policies can trigger estate tax
On behalf of Michael A. Manna & Associates | Oct 16, 2015 | Estate Tax
When creating an estate plan, many New Jersey residents consider whether life insurance is a useful tool. Life insurance can provide wealth to the loved ones left behind, and can make it far easier for them to maintain their quality of living as they adjust to their...
Estate planning across the decades
On behalf of Michael A. Manna & Associates | Jul 9, 2015 | Estate Tax
As a New Jersey resident ages, he or she will have different estate planning needs. Understanding those needs can help ensure that a proper estate planning approach is put to use, and that one's needs are being properly addressed. While there is no such thing as an...
Family-owned businesses and estate tax planning
On behalf of Michael A. Manna & Associates | Jul 1, 2015 | Estate Tax
For many generations, families in New Jersey and across the nation have turned to their family business as a means of passing down wealth from one generation to the next. Through careful planning, families can use their businesses as a means of portability, giving...
How to avoid estate tax and give to charity
On behalf of Michael A. Manna & Associates | Jun 26, 2015 | Estate Tax
Many New Jersey families have amassed a considerable amount of wealth. When considering estate planning options, many of these families are looking for ways to minimize their estate tax obligation while also allowing their wealth to have a positive impact, both...
Could the estate tax soon be a thing of the past?
On behalf of Michael A. Manna & Associates | May 2, 2015 | Estate Tax
The estate tax, also commonly referred to as the "death tax," is a popular subject among many in New Jersey, even though very few Americans are at risk of being subjected to the tax. People tend to hold strong opinions on the matter, and it is a prime example of a...
Moving beyond the old model of estate tax planning
On behalf of Michael A. Manna & Associates | Apr 1, 2015 | Estate Tax
In decades past, individuals who were seeking estate planning guidance were told that there are three basic places where one can leave their assets upon death: family, charity or taxes. This approach defined the overall estate planning process for many years, but it...
Get an early start on estate tax planning
On behalf of Michael A. Manna & Associates | Feb 26, 2015 | Estate Tax
Many New Jersey residents have worked hard to build a strong base of wealth. Retaining as much of that wealth as possible becomes a priority for many families. Understanding the proper steps required to do so can be a challenge, as there are a wide range of rules in...
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