Kulzer & DiPadova, P.A.
76 E. Euclid Avenue, Suite 300
Haddonfield, New Jersey 08033-2342

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News, Articles & Resources

Category: Estates & Trusts

Should the new “SECURE Act” changes encourage taxpayers to use a Charitable Remainder Trust (CRT) as recipient of IRA benefits?

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In two recent Kulzer & DiPadova newsletters, we addressed a significant change to the law made by the Further Consolidated Appropriations Act, 2020 (H.R. 1865, P.L. 116-94), the yearend funding measure signed by President Trump on December 20, 2019.  The first article, dated December 30, 2019, summarized the SECURE Act,…

Despite Late Filing New Jersey District Court Abates $450,959.50 Late Filing Penalty

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In the just decided case of the Estate of Agnes R. Skeba v. United States; No. 3:170-cv-10231, the New Jersey District Court abated a $450,959.50 late filing penalty even though the federal estate tax return was filed nine months late. On March 10, 2014, the due date for the estate…

The Death of the “Stretch” IRA

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A distressing element of the 2019 SECURE Act (Setting Every Community Up for Retirement Enhancement Act, part of the Further Consolidated Appropriations Act, 2020 (P.L. 116-94, H.R. 1865)), the late 2019 spending measure to fund the government, is a provision that will create the need for dramatic changes to estate…

Secure Act: Major Changes for Retirement Planning

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On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020 (H.R.1865 P.L. 116-94)(“Appropriations Act”).  Division O of the Appropriations Act (https://www.congress.gov/bill/116th-congress/house-bill/1865/text) included the Setting Every Community Up for Retirement Enhancement Act of 2019 (“Secure Act”) which provides the most expansive retirement plan legislation since the…

Final Clawback Regulations Released

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On November 22, 2019, the IRS issued final regulations under a concept known as “clawback” of estate tax exemption.  “Clawback” of estate tax exemption arises due to the manner in which the estate tax is calculated and occurs when an estate tax exemption amount decreases.  When the Tax Cut and…

Van Riper v. Director, Division of Taxation: New Jersey Supreme Court Hears Important New Jersey Inheritance Tax Matter

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On October 8, 2019, the Supreme Court heard oral arguments in the case of Van Riper v. Director, Division of Taxation, 2018 WL 4761357 (App. Div. October 3, 2018). This case involves an inheritance tax dispute in which the New Jersey State Bar Association (NJSBA) filed an Amicus (Friend of…

When is an Inheritance a Part of Property to be Divided in the Divorce?

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A recent New Jersey divorce case has important implications for estate planners.  It holds that an inherited asset is not subject to equitable distribution in divorce.  Rosen v. Rosen, 2019, N.J. Super. Unpub. LEXIS 1509 App. Div. (July 3, 2019)                 Sometimes clients will ask their estate planner, if I…

WHEN CAN STATES TAX TRUST INCOME? THE U.S. SUPREME COURT PROVIDES LIMITED GUIDANCE

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U.S. Supreme Court provides guidance (although minimal) on the interstate income taxation of Trusts. North Carolina Department of Revenue vs. Kimberly Rice Kaestner 1992 Family Trust, 139 S. Ct. 2213, 588 U.S.  (June 21, 2019).     When an individual owns several homes and travels between them, spending time in…

Haas Presents Extreme CLE ’17

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K&D associate, Briele Haas, was among a group of speakers who took part in the Camden County Bar’s successful CLE program “Extreme CLE ‘17”, on March 24, 2017. Mrs. Haas presented the program on IRA’s and Estate Planning. The one-day event, which offered 16 programs, gave attorneys the opportunity to earn the…

New Jersey Estate Tax Repeal: What You Need to Know!

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Glenn A. Henkel authored the following article “New Jersey Estate Tax Repeal: What You Need to Know!” which has been featured in the March 2017 (Vol. 65, No. 7) issue of The Barrister, a monthly circular published by the Camden County Bar Association. Last October, Governor Christie signed legislation raising the state’s…

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