NJ estate tax
Have client with assets of 1.2 million. She is leaving 738k to charities, which leaves her with 462k.
a. with NJ ceiling at 675k, will her estate still be charged estate tax before the charities get their money?
or
b. will the charities get their money and then the estate would not pay any estate tax because she would be under the NJ threshold?
Thank you,
Douglas
Permalink Submitted by Bruce Steiner on Wed, 2014-06-11 20:39
No estate tax, since 462 is less than 675. Bruce Steiner, attorney, NYC, also admitted in NJ and FL.