Trusts and Estates
The Trusts and Estates Practice Group includes skilled Trusts and Estates professionals with more than 100 years of combined experience. We work with clients at every level of wealth accumulation, as well as their families, covering multiple generations. We work aggressively to assure that our client’s testamentary, lifetime giving and charitable giving goals are met in the most strategic and tax-effective manner possible.
Our broad range of estate, trust and elder care-related services includes:
- Sophisticated tax-efficient estate and gift tax planning and family wealth transfer planning.
- Tax and non-tax planning for the administration of estates and trusts, including advising fiduciaries of their rights and obligations.
- Analyzing, reviewing, structuring and drafting wills and trusts, life insurance trusts, revocable and irrevocable lifetime trusts and asset preservation trusts, living wills and powers of attorney.
- Structuring business succession arrangements.
- Structuring and drafting buy and sell agreements and other instruments used in business succession plans.
- Reviewing and analyzing life insurance policies and proposals, and other life insurance based products, including annuities.
- Structuring asset transfers to enable Medicaid qualification.
- Preparing and filing Medicaid applications.
- Guardianships
- Handling will contests and other judicial and administrative actions arising in the context of estate and trust administrations, including trust reformations.
- Special needs trusts and supplemental needs trusts.
- Lifetime and testamentary charitable gift planning using various strategies and techniques – including charitable annuities, private foundations, donor-advised funds, charitable lead trusts and charitable remainder trusts.
- Preparation of Federal and State gift and estate tax returns.
Our estate and trust clients include:
- Owners of closely held businesses
- High net worth individuals
- Entrepreneurs
- Charitable organizations and private foundations
- Corporate executives
- Professionals
While our Trusts and Estates Practice Group offers a full range of estate planning and estate administrative services, we also offer advice in the areas of elder law planning, planning for long-term care, and Medicaid entitlements and business succession planning.
The attorneys in this group have many years of experience in all of these matters, and can provide hands-on attention in this extremely important and sensitive area of the law. They deliver their services with the care, professionalism and compassion necessary to help our clients manage the difficult and emotional issues that must be addressed when dealing with matters of death and aging. All of the department’s attorneys are tax professionals who can recognize and manage the many complicated tax issues that arise in the estate planning and administration process.
March 28, 2022Martin D. Hauptman, Esq. to present Estate Trust Update
Martin D. Hauptman, Esq., partner in the Tax Law and Trusts and Estates departments as Mandelbaum Barrett will be presenting an Estate Tax Update to the New Jersey Living Well Club on Wednesday, April 13th, 2022....
February 4, 2022Tax Alert: New Jersey's Earned Income Tax Credit (NJEITC)
The New Jersey Division of Taxation is reminding taxpayers and practitioners that for the 2021 tax filing season, the New Jersey's Earned Income Tax Credit (NJEITC) is 40% of the federal credit, following three annual increases under a 2018 law. Additionally, legislation signed as part of last year's budget lowered the minimum age eligibility for the EITC from 21 to 18 and to those 65 and older without dependents. This means that for tax year 2021, New Jersey taxpayers could receive a refundable credit of up to $2,691 with qualifying dependents or $601 without dependents. The maximum credit available for workers without dependents is nearly tripled from previous years in thanks to provisions expanding the federal EITC in the American Rescue Plan. To be eligible for the NJEITC, a taxpayer must: (1) meet all qualifications for the federal earned income tax credit, except for the minimum age requirement; (2) be a resident of New Jersey who works or earns income; (3) have a qualifying child or be at least 18 years old; (4) meet the income limits for their filing status; and (5) have a valid social security number for themselves, their spouse and any qualifying child listed on the tax return....
January 28, 2022New Jersey Department of Taxation Announcement: New deductions for college related expenses
The New Jersey Division of Taxation has advised that there will be three new deductions available for college related expenses in the 2022 tax year for taxpayers with gross income of $200,000 or less. Taxpayers will be able to deduct up to: (1) $10,000 of contributions made during the year to a New Jersey 529 plan account; (2) $2,500 of principal and interest paid on student loans issued under New Jersey College Loans to Assist State Students; and (3) $10,000 of tuition costs if the taxpayer, his or her spouse or dependent enrolls and attends a New Jersey institution of higher education....
December 3, 2021Martin Hauptman contributes to NJ.com article titled "My employer eliminated my life insurance. Can I deduct the loss?"
Martin Hauptman, a partner in the Trusts & Estates, and Taxation practice groups and chair of the ERISA and Employee Benefits practice at Mandelbaum Barrett has contributed to an article in the December 2nd, 2021 issue of NJ.com titled "My employer eliminated my life insurance. Can I deduct the loss?"...
February 16, 2021What Can a Special Needs Trust Pay For?
...
February 1, 2021Should a Special Needs Trust Buy a Home for a Beneficiary?
...
July 24, 2020Marc Comer Interviewed on Kramer's Millionaire Maker
...
March 27, 2020COVID-19 Resources
The past two weeks have ushered in unprecedented changes in our economy and society. In an effort to provide our friends and colleagues with up-to-date information about COVID-19, our attorneys have written a range of publications. These articles and alerts examine COVID-19's impact on a number of areas, including business and healthcare office closures, employment concerns, insurance issues, telehealth, and the rights of public school students during school closures....
March 24, 2020Tax and Estate Planning Alert
...
December 26, 2019Richard Miller Answers a NJ.com Readers Question on Inheritance Tax
Richard I. Miller answered a NJ.com readers question on "Can I avoid the inheritance tax for nieces and nephews?" Read what Richard had to say here....
July 24, 2019Join Mandelbaum Barrett and Sobel Co., LLC for Retirement Plans: The Pros and Cons of a Pre-Approved Plan Breakfast Seminar
Attention Business Owners: You don't want to miss this informative program on Retirement Plans: The Pros and Cons of a Pre-Approved Plan being held at Mandelbaum Barrett on September 25th from 8:30 a.m. – 10:00 a.m. Join Mandelbaum Barrett and Sobel & Co., LLC for our breakfast seminar that will cover retirement plans from the legal and accounting perspective. Learn about best practices if you sponsor a qualified plan, prototype pre-approved plans, new IRS Correction Procedures and common plan issues identified by auditors....
June 13, 2019Martin D. Hauptman appointed to a three year term as a Consultor to the Real Property Trust and Estate section of the New Jersey State Bar Association
Congratulations to Martin D. Hauptman, a partner in the Firm's #Trusts & #Estates practice group, who was appointed to a three year term as a Consultor to the Real Property Trust and Estate section of the @New Jersey State Bar Association. The Real Property Trust and Estate Law Section discusses developments in real #property, trust and estate law, including the creation and# administration of estates, #wills and trusts. Please join us in congratulating Martin on this achievement!...
26 MarMember Casey Gocel Named to NJBIZ Top 50 Women in Business
We are proud to announce that Mandelbaum Barrett Shareholder Casey Gocel has been named by NJBIZ as one of the Top 50 Women in Business....
23 OctJoin us for our 6th Annual Tax, Trusts and Estates Breakfast on December 4th!
Join Mandelbaum Barrett on December 4th for our 6th Annual Tax, Trusts and Estate Planning Forum at Mayfair Farms in West Orange New Jersey!...
October 8, 2018Steven Holt Answers NJ.com Reader's Question on Financial Responsibilities When a Spouse Dies
Steven Holt answered a reader's question on NJ.com about a recent widow's inheritence and what steps to take next. Click here to read more....
October 4, 2018Steven Holt Answers Reader Question on NJ.com About an Inherited IRA
Steven Holt, Chair of Mandelbaum Barrett's Trusts and Estate Practice Group, answered a reader's question on NJ.com about how much you can take from an inherited IRA. Click here to read the full article....
October 3, 2018Shawna Brown Answers a NJ.com Readers Question on What Happens When Someone Who Owes Child Support Gets an Inheritance
What happens when someone who owes child support gets an inheritance? Shawna Brown, an Associate in the Firm's Elder Law Practice Group, answers a NJ.com reader's question on what happens when an ex-spouse has a judgment against them and receives an inheritance. Read what Shawna has to say here....
September 20, 2018Steven Holt Publishes Article for ROI-NJ on The IRS Tax Amnesty Programs
Steven Holt, Chair of Mandelbaum Barrett's Tax, Trusts & Estates Practices recently authored an article for ROI-NJ on the IRS Tax Amnesty Programs for those with undisclosed holdings overseas and issues a warning that the IRS increasingly wants to know about your money overseas. Read what Holt cautions here....
August 27, 2018Steven Holt Authored an Article for NJCPA on the Offshore Voluntary Disclosure Incentive Program
Steven Holt, Chair of Mandelbaum Barrett's Tax, Trusts & Estates Practices and Alan Glazner, Of Counsel to the Firm's Tax Practice, authored an article for NJCPA on the Offshore Voluntary Disclosure Incentive Program which is ending September 28th. We encourage tax professionals, accountants and other advisors who advise clients on tax matters to read this!...
13 AugTax, Trusts & Estates Chair Steve Holt Talks About Brand Value and Business Succession Marketing
Ever wonder the value of a strong brand in Business Succession Marketing and Planning? Check out Leon Grassi's latest DSM blog featuring a Q&A with Mandelbaum Barrett's Tax, Trusts & Estate's Chair Steven Holt. This is a must read for business owners!...
August 10, 2018Steven Holt Featured in a Q&A for Leon Grassi's DSM Blog on The Value of a Strong Brand in Business Succession Marketing and Planning
Ever wonder the value of a strong brand in Business Succession Marketing and Planning? Check out Leon Grassi's latest DSM blog featuring a Q&A with Mandelbaum Barrett's Tax, Trusts & Estate's Chair Steven Holt. This is a must read for business owners!...
July 24, 2018Steven Holt Answers NJ.com Question on a Deceased Parent's Unpaid Taxes
Steven Holt, Chair of Mandelbaum Barrett's Trusts and Estates Practice Group, answered a reader's question on NJ.com about unpaid taxes on a deceased parent's behalf and the statute of limitations that may apply....
18 MayLatest Nj.com article on Things to Think About Now for 2018 Tax Returns Featuring MS Attorneys Holt, Strober and Fox
Check out the latest NJ.com article highlighting many of the changes brought on by the Tax Cuts and Jobs Act and what you need to start thinking about now for your 2018 return! Our own Steven Holt (Chair, Tax, Trusts & Estates), Lynne Strober (Co-Chair Family Law) and Lisa Fox (Member, Tax, Trusts & Estates) give expert analysis on these changes and tips to consider. It is important to plan throughout the year so you aren't blindsided in April when tax time rolls around again....
13 FebTax, Trusts & Estates Update -- Special Edition: 2017 Tax Cuts and Jobs Act
As you know the 2017 Tax Cuts and Jobs Act created sweeping changes including repeals of credits and deduction, changes to education funding, incentive programs and rules covering charitable organizations, income earned by partnerships, etc… The attached newsletter is being published by our Tax, Trusts & Estates Department to highlight for clients the major changes....
13 Feb2017 Mandelbaum Barrett Year in Review
We are pleased to share our 2017 Year in Review which highlights some of the Firm's notable successes during the last year. We are thankful to our clients who have allowed us to continue doing what we love. We continue to expand our practice areas and bench to reflect our clients needs....
28 DecSteve Holt Answers NJ.Com Readers on the Taxability of 529 Accounts
Steven Holt, Chair of the Firm's Tax and Trusts and Estates Practice Group's was asked by an NJ.com reader about 529 accounts and what is taxable....
20 DecSteven Holt Answers NJ.Com Biz Brain Readers Question on Gift Taxes on a Deeded Home
Steven Holt, Chair of the Firm's Tax and Trusts & Estates Practice Groups recently answered a NJ.com BizBrain reader's question on gift taxes on a deeded home. Check out Steve's answer here....
3 NovJoin Us for Our 5th Annual Tax, Trusts and Estate Planning Forum on December 5, 2017
Join Us for Our 5th Annual Tax, Trusts and Estate Planning Forum on Tuesday, December 5th from 8:00 a.m. - 10:00 a.m. at Mayfair Farms in West Orange, NJ! Earn up to 1.5 CE credits and hear from our panel of experts regarding guardianships, special needs trusts, irrevocable trusts, latest tax law changes and more! To RSVP, email llynch@lawfirm.ms or call 973.243.7951. Seating is limited so RSVP today!...
10 AugSteven Holt Answers Nj.com Biz Brain Question on Property Tax and Mortgage Deductions
Steve Holt, Chair of the Firm's Tax and Trusts & Estates Practice Groups recently responded to a NJ.Com Biz Brain readers question on property tax and mortgage deductions! Read what Steve had to say....
18 JulCasey Gocel Named to NJ Biz Forty Under 40
We are proud to announce that our Member Casey Gocel, Esq. LL.M. has been named by NJ Biz as a Winner of their Forty Under Forty Award! We could not be more proud of Casey's accomplishments both professionally and within the community! According to NJ Biz, "These up-and-coming stars of the New Jersey business community have achieved professional excellence at a young age, representing the future of their industries and the state as a whole." Congratulations Casey and all of this year's winners!...
13 JulSteven Holt Answers nj.com Biz Brain Question on How the Federal Estate Tax is Calculated
Steven Holt, Chair of Mandelbaum Barrett's Tax and Trusts and Estates departments, answered a nj.com readers "Biz Brain" question on how the federal estate tax is calculated....
13 JulSummer 2017 Tax, Trusts & Estates Newsletter
Check out the latest news and developments in Tax, Trusts & Estates in the Summer 2017 Tax, Trusts & Estates Update!...
22 JunSteven Holt authors article for New Jersey Business Magazine on Irrevocable Trusts
Steven Holt, Chair of Mandelbaum Barrett's Tax Law Department, was recently featured in the May 2017 New Jersey Business Magazine with an article on Irrevocable Trusts....
19 JunShawna Brown Joins Mandelbaum Barrett's Elder Law, Trusts & Estates and Special Needs Groups
We are pleased to welcome Shawna A. Brown who has joined the Firm's growing Elder Law, Trusts & Estates and Special Needs Practice Groups as an Associate. She focuses her practice on estate administration and litigation, including contested and uncontested probate, administration and accounting proceedings. Prior to joining Mandelbaum Salsburg, Shawna was an associate at a New York City law firm where she counseled the Public Administrator of New York County in connection with estate administration. She earned her B.A. from Rutgers University and her J.D. from New York Law School. She is admitted in New York and New Jersey....
18 JunMember Martin D. Hauptman to Speak at the 2nd Annual Estate Planning Summer Institute
Member Martin D. Hauptman is one of the featured speakers at the 2nd Annual Estate Planning Summer Institute on July 21st & 22nd at the NJ Law Center. Part of the objective for attorneys participating in the institute is to refresh areas that can expand...
1 MarMember Richard Miller to Present at June 16, 2016 ICLE Seminar
Member Richard I. Miller, Chair of the Firm's Elder Law Practice Group, will be one of the featured faculty at the upcoming NJICLE seminar "Guardianships of Adult Incapacitated Persons". The seminar will be at the NJ Law Center on June 16, 2016 and will feature a...
To receive current news and events concerning our Trusts and Estates Practice Group, please provide your contact information.