Transfer Tax Management – Q&A Overview of Taxes to Consider
Question 1: I am a New Jersey resident. What transfer taxes should I consider? Answer: In addition to the federal gift, estate and generation-skipping transfer taxes, New Jersey imposes estate and inheritance taxes. Question 2: What is a gift tax? Answer: The United States Government imposes a tax on gifts that you make during your life. If you give more than $12,000.00 per year to any one individual, you will pay a tax equal to 45% (2007-2009) of the value of the gift. Although you may avoid paying the tax by filing a Form 709 gift tax return and using a part of your $1,000,000.00 lifetime exemption, this will reduce your available estate-tax exclusion by an equal amount.

New Jersey Protected Assets – Questions & Answers
Question 1: Assuming that someone has won a money judgment against me in court, from what assets of mine does the judgment creditor satisfy the judgment? Answer: The three basic sources which a judgment creditor may satisfy the judgment (1) income, (2) tangible and intangible personal property and (3) real property. Question 2: What is considered income?

Limited Liability Company – Questions and Answers Tax Planning
Question 1: If I transfer an asset into a single-member LLC, will I have to pay any tax? Answer: No. The transfer is to yourself for income tax purposes, thus there is no capital gains on the transfer. Question 2: If I give membership interests to my children, will I have to pay gift tax?

How A Power of Attorney Functions in Estate Planning
A Power of Attorney (POA) is a legal document giving another person or institution the right to do certain legal acts or tasks for another person (the Principal). This document may be one of the most important in an Estate Planning.

International Planning - Questions and Answers Income Tax Planning with International Life Insuranc
Question 1: What is a Variable Universal Life Insurance Contract? Answer: A Variable Life Insurance Contract is a contract (1) that provides for the allocation of all or part of the amounts received under the contract to an account which, according to applicable law or regulation, is segregated from the general asset accounts of the company and (2) the amount of the death benefit (or the period of coverage) is adjusted on the basis of the investment return and the market value of the segregated asset account. IRC 817(d).