♠ Posted by Marc J. Soss in estate plan,estate planning,florida estate planning,NJ estate planning,same sex estate planning,same-sex couples
A
recent New Jersey Tax Court ruling, unpublished opinion, emphasizes the
importance for same-sex couples to not put-off marriage for estate planning
purposes. New Jersey has both an estate tax and an inheritance tax, and
taxpayers must pay the higher of the two taxes. The estate tax impacts estates
of more than $675,000. Notwithstanding a 31-year relationship, registration as
a same-sex domestic partner under New Jersey's Domestic Partnership Act (DPA), and
a marriage scheduled to take place with 6 days of his death, the New Jersey Tax
Court Judge ruled that the survivor did not qualify...