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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Understanding Portability for Estate and Gift Tax

Portability of estate and gift tax enables a surviving spouse to inherit any unused portion of their deceased spouse’s federal estate and gift tax exemption. So, if one spouse doesn’t utilize their full exemption, the surviving spouse can effectively double their exemption amount with regard to estate tax liability. For married couples, portability offers a […]

Author: Marc J. Comer

May 29, 2026

Pet Trusts in New Jersey and New York: A Practical Estate Planning Tool

For many of us, pets are more than companions—they are members of the family. Yet they are often overlooked or inadequately provided for when it comes to estate planning. A pet trust offers a legally enforceable way to ensure that your animal continues to receive proper care if you become incapacitated or pass away. As […]

Author: Marc J. Comer

May 26, 2026

When Decanting Can be Used to Amend an Irrevocable Trust in New Jersey

One of the options possible for modifying an irrevocable trust is known as “decanting”… Despite what the name suggests, it is possible to modify an irrevocable trust. One of the options is known as “decanting,” where the trustee transfers some or all of the principal and undistributed income of the trust to another trust for […]

Author: Scarinci Hollenbeck, LLC

March 10, 2021

COVID-19 Highlights Importance of Understanding the Guardianship Process

COVID-19, unfortunately, is now among the examples of causes for the need to appoint a guardian... It is always advisable for individuals to express their own wishes regarding whom they want to manage their affairs if they become unable, which is traditionally done through a power of attorney. However, situations may arise when someone needs […]

Author: Joel N. Kreizman

January 22, 2021

A Primer on Estate and Inheritance Tax for New Jersey

When someone dies, the people left behind are often stunned and shocked by the taxes they have to pay. They hear all kinds of scary terms like “estate tax” and “inheritance tax,” and they don’t know what the difference between the two is, or even if there’s a difference at all. People fear what will […]

Author: Scarinci Hollenbeck, LLC

March 7, 2017

Estate Planning Regulation Impacts Small Business And Estate Tax Planning Strategies

The government lost estate and gift tax cases that attracted headlines. The government lost estate and gift tax cases that attracted headlines. In response, the Department of Treasury (“Treasury”) proposed new regulations in early 2016 that would amend definitions in the 1992 regulations that were problematic in the court cases. In addition, Treasury it added […]

Author: James F. McDonough

January 10, 2017

IRS Raises Estate & Gift Tax Exemption for 2017

Those getting their estates in order will be pleased to hear that the IRS raised the estate, gift and generation skipping transfer tax exemption to $5.49 million per person effective January 1, 2017. What the changes mean Individuals who own assets worth more than $5.49 million at their death could have to pay a 40 […]

Author: Scarinci Hollenbeck, LLC

December 16, 2016

Will Execution, Witnesses & Notaries – State Law Does Matter

Where state law matters in proper will execution We expect that as time passes, people become more sophisticated and aware of what must be done to execute a valid will. Unfortunately, this is not so. In certain states, execution of a will is complete when it is signed by a second witness. Some states require […]

Author: James F. McDonough

October 18, 2016

Split-Dollar Arrangements Not Subject to Gift Tax

In a Groundbreaking Tax Court Decision in Estate of Morrissette v. Commissioner, the Court Deems Split-Dollar Arrangements are not Subject to Gift Taxes A recent Tax Court decision has potentially groundbreaking results. In Estate of Morrissette v. Commissioner, the Court ruled that the economic benefit regime applies to this split-dollar arrangement because the only economic […]

Author: James F. McDonough

May 9, 2016

Will Spendthrift Language In A Trust Always Be Respected or Not?

Will Spendthrift Language In A Trust Always Be Respected? The unequivocal answer to the question is: it depends. The grantor’s purpose for including spendthrift language in a trust is to protect the trust assets set from the beneficiary’s creditors and to prevent the beneficiary from selling or assigning his or her interest in the trust. […]

Author: James F. McDonough

February 24, 2016

New Changes for Gift Tax Laws in 2016

2016: new changes for gift tax laws All gifts may be subject to IRS gift taxes, and some of those rules are becoming more stringent next tax year. According to a Motley Fool report, a prime example of a gift tax law that has become more strict is when gifts are given between U.S. citizens and […]

Author: James F. McDonough

February 11, 2016

The U.S. Tax Court Creates New Estate Planning Channel for Older Individuals

New estate planning channel for older demographic? A recent decision by the U.S. Tax Court affirmed the estate planning opportunity for older individuals that was perceived by some as being safely available in the Fifth Circuit where the Tax Court’s McCord decision, that was adverse to the taxpayer, was reversed. According to a Law 360 […]

Author: James F. McDonough

December 28, 2015

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