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West Essex Tribune
December 9, 2004

December is the time to review your financial and estate planning situation to make moves to save money on taxes this year. Consult with your financial and tax advisors to see what moves are right for you. Before the end of the year, at the very minimum:

  1. Review your capital gains and losses. Generally if the net gains and losses are zero there are no taxes due on them so selling some investments may save taxes.
  2. Make gifts. Complete your annual gifts to reduce your estate tax. You may give up to $11,000 per recipient to as many people as you want. However, if you are concerned about Medicaid qualification, you should consult an attorney first.

West Essex Tribune
October 7, 2004

UTMAs are accounts at a bank, broker or mutual fund, in the name of a custodian for the benefit of a child. The custodian controls the account until the child is 21 years old. The income is taxed to the child saving taxes using to the child's lower tax brackets.

There are drawbacks to UTMAs.

West Essex Tribune
July 22, 2004

There are 6 Common Misconceptions about Domestic Partnerships that you need to know about. 

You should know:

  1. Your Domestic Partner has no right to inherit from you. Your Domestic Partner receives nothing on your death unless you have a Will naming him or her.
  2. Your Domestic Partner has no say in your funeral arrangements unless you have a Will naming him or her to make those decisions.

West Essex Tribune
May 13, 2004

You carefully investigate day care, camps, schools and baby sitters. You make sure your children are well cared for every time you are not there…or have you? If you do not have a Will you haven’t taken an essential step in providing for your children.

For parents of young children, the most important part of a Will is naming guardians--the people who will raise your children if something happens to you. You need to carefully consider parenting style, age, geographic location, religion, and many other factors to decide who is best suited for your children.

West Essex Tribune
February 5, 2004

New Jersey's new Domestic Partnership Law gives unmarried seniors and same sex couples who meet certain requirements some of the rights, benefits and obligations as married couples, including an exemption from New Jersey Inheritance Tax (although there may still be New Jersey and federal estate taxes). Under the new law, domestic partners can enter into an agreement spelling out their obligations to each other. If this affects you, you should consult with an attorney who is familiar with this new law.