A New Jersey power of attorney lets you name someone (your attorney-in-fact) to handle your finances and legal affairs. To keep working if you later lose capacity, it has to say so, and it must be in writing, signed and acknowledged before an officer such as a notary or New Jersey attorney. Medical decisions are handled by a separate document, a health care proxy (proxy directive).

7 min read

Estate Planning

New Jersey inheritance tax: who pays, rates and tax waivers

New Jersey still has an inheritance tax, but the estate tax ended for deaths on or after January 1, 2018. Whether inheritance tax is owed depends on who inherits: spouses, children, grandchildren, parents and stepchildren (Class A) and charities (Class E) pay nothing, while siblings and children-in-law (Class C) and most others (Class D) can owe 11% to 16%. The tax is due within 8 months of death.

6 min read

Estate Planning

Writing a will in New Jersey: legal requirements and tax basics

In New Jersey, anyone 18 or older and of sound mind can make a will. A standard will must be in writing, signed by you, and signed by two witnesses, and adding a notarized self-proving affidavit makes probate easier. New Jersey has no estate tax for deaths since January 1, 2018, but it still has an inheritance tax that can apply to gifts to people other than close family.

6 min read

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