Private Client Group counsel Fred Schoenbrodt (Florham Park/Princeton) provided advice to an NJ Money Help reader on state estate tax planning techniques for an estate with a value exceeding the New Jersey estate tax exemption amount.
The reader asked, “My parents did their wills online and they’re very simple, but they have an estate that’s over the $675,000 New Jersey limit. How can I tell if they should do more estate planning than an online will?”
Fred advised that there is rarely a one-size-fits-all approach to estate planning but, “In most cases, a couple with a combined estate that exceeds the $675,000 New Jersey estate tax exemption should have some state estate tax planning built into their wills.”
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