Estate Taxation

          Individuals whose primary residence is in the State of New Jersey, who died prior to January 1, 2017 and who had assets worth more than $675,000 can be subject to the New Jersey Estate Tax.  Individuals whose primary residence is in the State of New Jersey, who died between January 1, 2017 and December 31, 2017 and who had assets worth more than $2,000,000 can also be subject to the New Jersey Estate Tax.  The New Jersey Estate Tax was eliminated altogether, for individuals dying on or after January 1, 2018.  The Federal Government imposes estate taxes on estates on excess of $11,200,000.


There is a great deal of responsible speculation about New Jersey re-instituting an estate tax.  Of course, not only do we not know whether or not the estate tax will be re-instituted, but, if so, what the assets threshold will be.  If and when the New Jersey estate tax resurfaces, this site will be updated to discuss it.


A flexible option that is available to address the possibility of a re-instituted estate tax is the inclusion of a credit shelter trust, funded through a disclaimer.  This option is discussed on this site under the heading, “CREDIT SHELTER TRUSTS”.