A recent Forbes article took a look at the general effectiveness of asset protection trusts in light of a recent Alaska case in which a man who set up and funded an asset protection trust was unable to protect his assets from future creditors in bankruptcy.There are...
Let Our Attorneys Provide The Legal Help Your Family Deserves
Ridgewood Estate Planning Blog
Rumors of immediate changes to estate/gift tax unlikely
On Behalf of The Manna Helmy Law Group | Nov 23, 2011 | Inheritance And Estate Tax
As we have frequently mentioned on this blog, the current state of the federal estate tax and gift tax exemption is precarious. Through 2012, the lifetime combined exemption amount (for gift tax and estate tax) is set at $5 million, which is affording many people the...
Study argues rich are moving from NJ because of burdensome taxes
On Behalf of The Manna Helmy Law Group | Nov 18, 2011 | Inheritance And Estate Tax
According to a new study conducted by the chief economist of New Jersey's Department of Treasury, wealthy residents are being driven out of the state because of high taxes. This, in turn, is slowing the rate of recovery in the state. According to Bloomberg Economic...
Medicaid planning depends on federal, state and local law
On Behalf of The Manna Helmy Law Group | Nov 16, 2011 | Inheritance And Estate Tax
A recent article in Forbes pointed out that changes to the state's Medicaid program may have a significant effect on existing estate plans and estate planning going forward. The new Medicaid regulation reportedly went into effect in early September, and will allow the...
Conditions are favorable for estate planning
On Behalf of The Manna Helmy Law Group | Nov 11, 2011 | Estate Planning, Inheritance And Estate Tax, Trusts
At present, several factors are combining to make for wonderful conditions for wealth preservation in estate planning. Those factors are favorable tax laws, a struggling economy, and low interest rates. Taking advantage of the current estate planning environmentAt...
New Jersey has both estate and inheritance tax
On Behalf of The Manna Helmy Law Group | Nov 9, 2011 | Estate Planning, Inheritance And Estate Tax
When doing estate planning, it is important to remember that even those who are not liable for federal estate taxes, you still may be liable for state taxes at death. State taxes at death may be either estate taxes, inheritance taxes or both. Some states just impose...
Important documents of preventing family conflict, P.2
On Behalf of The Manna Helmy Law Group | Nov 4, 2011 | Estate Planning
In our last post, we began discussing the documents you should have in place if you wish to avoid the possibility of family conflict down the road in regard to your estate plan. Without these basic documents in place, family may be left guessing-and disagreeing-about...
Important documents of preventing family conflict, P.1
On Behalf of The Manna Helmy Law Group | Nov 2, 2011 | Estate Planning
Everybody knows estate planning can be a stressful thing for individuals. What is even more stressful, though, is the struggles and disagreements families go through because of inadequate estate planning. One of the things a good estate planning attorney should do is...
Reducing estate taxes not only for the wealthy
On Behalf of The Manna Helmy Law Group | Oct 27, 2011 | Estate Planning
Reducing estate tax liability is an integral aspect of estate planning, and an especially important task for clients with large estates. But tax planning isn't exclusively for those with estates exceeding the estate tax exemption amount. Those with smaller estates...
States increasingly limit Medicaid hospital stays
On Behalf of The Manna Helmy Law Group | Oct 25, 2011 | Medicaid Planning / Nursing Home Planning
USA Today reports that states are increasingly limiting hospital stays covered by Medicaid in an effort to control rising health costs for the program and balance budgets affected by the struggling economy. Some states have limited the number of hospital stays covered...